The Albania Financial Services Authority published its statistical update on insurance market developments for January to May 2025, showing gross written premiums of ALL 10,075 million, up 7.60% year on year, and 609,763 insurance contracts, up 9.29%. Gross paid claims totalled around ALL 3,304 million, down 5.59% versus the same period in 2024. Non-life insurance continued to dominate premium volumes with a 90.58% share, compared with 9.38% for life insurance and 0.041% for reinsurance; compulsory insurance accounted for 59.98% of total gross written premiums and voluntary insurance for 40.02%. Motor insurance represented about 75.79% of gross paid claims at ALL 2,504 million, up 2.22% year on year, while compulsory motor premiums reached around ALL 6,043 million, up 13.03%, with increases across domestic MTPL, Green Card and border insurance products. Voluntary insurance premiums were around ALL 4,033 million, up 0.37%, with voluntary non-life premiums down 2.65%; life insurance premiums rose 11.61% to around ALL 945 million. The bulletin also reports average claim amounts for selected motor products and notes that paid claims include Compensation Fund claims reported by the Albanian Insurance Bureau.
Albania Financial Services Authority 2025-06-27
Albania Financial Services Authority reports gross written premiums up 7.60% to ALL 10,075 million in January to May 2025
The Albania Financial Services Authority released its insurance market update for January to May 2025, noting a 7.60% increase in gross written premiums to ALL 10,075 million and a 9.29% rise in insurance contracts. Non-life insurance dominated with a 90.58% share, while motor insurance accounted for 75.79% of gross paid claims, totaling ALL 2,504 million. Compulsory motor premiums increased by 13.03% to ALL 6,043 million, with voluntary insurance premiums up by 0.37%.