The Albania Financial Services Authority published its Statistical Bulletin for January 2025, reporting gross written insurance premiums of ALL 1,976 million, an 11.37% increase from January 2024, alongside 124,025 concluded insurance contracts, up 18.75%. Gross claims paid reached about ALL 687 million, up 12.95% year on year, with motor insurance accounting for ALL 515 million or 75.07% of total claims. Non-life insurance continued to dominate premium volume at 90.38%, compared with 9.54% for life insurance and 0.079% for reinsurance. Compulsory insurance represented 60.56% of premiums, including compulsory motor insurance premiums of about ALL 1,197 million, up 14.58%, with premium growth across domestic MTPL, Green Card and border insurance products and rising contract numbers. Voluntary insurance premiums totalled about ALL 779 million, up 6.78%, while life insurance premiums fell 10.50% to around ALL 189 million; the bulletin also reported higher average motor claim sizes, including domestic MTPL rising to ALL 154,000 from ALL 135,000 and Kasko to ALL 386,000 from ALL 178,000. The publication notes that paid-claims figures include compensation fund claims reported by the Albanian Insurance Bureau and provides a downloadable Excel report with more detailed market and product breakdowns.
Albania Financial Services Authority 2025-02-26
Albania Financial Services Authority publishes January 2025 insurance statistics with gross written premiums up 11.37% and claims paid up 12.95%
The Albania Financial Services Authority's January 2025 Statistical Bulletin reports an 11.37% increase in gross written insurance premiums to ALL 1,976 million and an 18.75% rise in concluded insurance contracts. Non-life insurance dominated with 90.38% of premium volume, while compulsory insurance accounted for 60.56% of premiums. Motor insurance claims reached ALL 515 million, representing 75.07% of total claims, with notable increases in average claim sizes.