Albania’s insurance market continues to expand. In the first eight months of the year, insurance companies collected around ALL 18.3 billion in gross written premiums. According to data from the Albanian Financial Supervisory Authority (AFSA), this represents an increase of 2.4% compared with the same period last year.
The increase was even more pronounced in claims. Insurance companies paid around ALL 6 billion in claims, 9% more than a year earlier. The market continues to be dominated by non-life insurance, which accounts for more than 91% of the total.
Within this segment, compulsory motor insurance continues to hold the largest share. Motor insurance premiums reached ALL 11.5 billion, up 4%, while claims paid for road accidents increased by more than 9% to ALL 3.9 billion.
Fire and natural disaster insurance also recorded higher payouts. Claims paid in this category increased by 14%.
Meanwhile, life insurance grew by 6.2%, exceeding ALL 1.6 billion in premiums. The number of claims paid in this segment increased by nearly 23%, partly driven by insurance products linked to bank loans.
The post Insurance Market Grows, Premiums Reach ALL 18.3 Billion and Claims ALL 6 Billion in Eight Months appeared first on Euronews Albania.
