Albania

Location:
Southeastern Europe, bordering the Adriatic Sea and Ionian Sea, between Greece in the south and Montenegro and Kosovo to the north

Climate:
mild temperate; cool, cloudy, wet winters; hot, clear, dry summers; interior is cooler and wetter

Natural hazards:
destructive earthquakes; tsunamis occur along southwestern coast; floods; drought

Macroeconomic data (xls)






Currency: Leka

1 EUR = 140.14 Lek - ALL (December 31st, 2014)
1 EUR = 140.20 Lek - ALL (December 31st, 2013)
1 EUR = 139.59 Lek - ALL (December 31st, 2012)
1 EUR = 138.93 Lek - ALL (December 31st, 2011)
1 EUR = 138.77 Lek - ALL (December 31st, 2010)

Sources:
Albanian Financial Supervisory Authority (AFSA)
Albanian Insurers Association
Bank of Albania

Insurance statistics

1H2017Market Portfolioxlsx
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1Q2017Market Portfolioxlsx
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FY2016
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3Q2016Market Portfolioxlsx
3Q2016
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FY2015
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3Q2015
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FY2014
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3Q2014
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1H2014Insurance market overview pdf
1H2014Market Portfolioxlsx
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FY2013Insurance market overview pdf
FY2013
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3Q2013
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3Q2013Market Portfolioxlsx
1H2013Insurance market overview pdf
1H2013
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FY2012Insurance market overview pdf
FY2012
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3Q2012Market portfolioxlsx
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1H2012Insurance market overview pdf
1H2012Market portfolioxlsx
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1Q2012Market portfolioxlsx
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FY2011Insurance market overview pdf
FY2011Market portfolioxlsx
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3Q2011Market portfolioxlsx
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1H2011Insurance market overviewpdf
1H2011Market portfolio and rankingsxlsx
2010
Insurance market overviewpdf
2010Market portfolio and rankingsxlsx
1H2010Insurance market overviewpdf
1H2010Market portfolio and rankingsxlsx
1H2009
Albanian insurance market overview pdf
1H2009 Market portfolio xls
1H2009 Life insurance rankingsxls
1H2009
Non-Life insurance rankings xls
2009Albanian insurance market overview pdf
2009Market portfolioxls
2009Life insurance rankingsxls
2009Non-Life insurance rankingsxls

1H2017 Market Portfolio

1H2017 Insurance Companies Rankings

See all statistics

ALBANIA, FY2011: GWP over the EUR 60 million threshold

Albania's insurance market grew in local currency 2.3% in 2011 compared to the previous year (excluding reinsurance written premiums), according to data published by Albania's Financial Supervisory Authority (AFSA). In European currency, insurance premium revenues were about EUR 60.01 million. At the same time, the number of insurance contracts was of 1,306,602, up by 77.5% compared with year 2010.
The total insurance premium volume rose slightly to 7.1 billion ALL in the period January - October 2011, up 4.5% compared to the same period in 2010. The liberalization of tariffs regarding the compulsory vehicle insurance has contributed to the sluggish growth of the Albanian insurance market.

Exchange of experience in Tirana between supervisory authorities from 10 countries

Albanian Financial Supervisory Authority (AFSA) in cooperation with the Hungarian Financial Supervisory Authority (HFSA), held on October 10th-11th, in Tirana, the second regional meeting with the Insurance Supervisors from Central Europe, Eastern and South-Eastern Europe countries (CESEE). The meeting had a wide presence from homologue supervisory authorities from Albania, Austria, Hungary, Macedonia, Moldova, Montenegro, Poland, Romania, Serbia and Slovakia.

Albanian market grew by 5% in 1H/2011

The first six months of this year marked a 5% increase for the Albanian insurance market, the total volume of underwritings reaching about EUR 30.4 million, according to preliminary results released by the Albanian Financial Supervisory Authority.

New acquisitions in Albania for VIG

VIG signed last week an agreement to acquire a majority share in the Albanian insurance company INTERSIG. As a result of this transaction, subject to official approval, VIG will acquire 75% of the shares plus one share of the company from private ownership. The parties have agreed not to disclose the purchase price.

ALBANIA: Insurance Market in Albania Is Becoming Less Concentrated

The top three insurance companies that operate in Albania accounted for 58% of the insurance market for the first five months of this year, down from 60% they occupied a year ago. Sigal Uniqa Group Austria continued to be the company with the biggest share of the market, respectively 35%, followed by Sigma Vienna Insurance Group with 13.6% and Interalbanian with 9.7%.

ALBANIA: Compulsory Vehicle Insurance in Albania Liberalized

Albania's Parliamentary Committee on the Economy approved on Tuesday changes to the law on compulsory auto insurance, which were aimed at liberalizing the market, Tv Klan reports. According to the changes, insurance companies in Albania will be allowed to set prices independently based on the market.