Albania

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Location map
author: OCHA/ ReliefWeb


Location:
- Southeastern Europe, bordering the Adriatic Sea and Ionian Sea;
- Neighbours: Greece, Montenegro, Kosovo, Serbia, Macedonia.

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.

Macro indicators
* 2018 estimates
Surface:28,748km2
Population*:2.9million
Pop. density*:99.8people/km2
GDP*:13.4EUR billion
GDP/capita*:4,648.9EUR

European Union:
Official candidate

Currency: Lek
Code: ALL
Since: 1926


Insurance market portfolio
* 2018 estimates
TOTAL LIFE*:6.8%
TOTAL NON-LIFE*:83.2%
Overall Property*:12.4%
Overall Motor*:68.4%
MTPL*:63.6%


Sources:


 


Statistics

Abania 1Q2019 Market Portfolio

Albania 1Q19 Insurance Companies Ranking


See all statistics

Latest news

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.

ALBANIA: Insurance Market Grew 8.5% in H1

Albania's insurance market grew by 8.5% in the first half of 2011. According to data published by Albania's Financial Supervisory Authority, the premium volume of the Albanian insurance market totaled 4.3 billion Leks in the period between January and June 2011.




ALBANIA: Changes to Formula of Insurance company, INSIG Privatization

After several failed attempts for the privatization of Albania's state-owned insurance company, the Albanian government decided to change the privatization formula this week, daily Panorama reports. The changes in the form and formula for the privatization of INSIG come as a result of reportedly positive signals for its sale.

TRIGLAV is strengthening its presence in Albania, by buying the majority stake of ALBSIG

The end of last week had scheduled the signing of the agreement regarding the acquisition of the Albanian insurance company ALBSIG by the Slovenian insurance group TRIGLAV. So far, TRIGLAV held 9.9 percent of the ALBSIG shares, but "this figure will be increased to at least 50% in the next period", according to Slovenian publication FINANCE.

UNIQA acquires another 23% of the Albanian insurance company SIGAL

The UNIQA Group will acquire another 23% of the shares of the Albanian insurance company SIGAL, that will increase its share in the Albanian market leader to 68.7%. The agreements with the former shareholders were signed on Wednesday, 11 November 2009, in Tirana, according to UNIQA officials.