Insurers collected about 18.34 billion leks in premiums from January to August, up 2.44% from the same period a year earlier. Claims payments rose 9.04% to about 5.96 billion leks.

The number of insurance contracts increased 6.14%, while the number of claims paid rose 6.39%.

Motor insurance remained the largest segment, accounting for 68.78% of the non-life market. Compulsory motor insurance premiums reached about 11.52 billion leks, up 4.01%, while claims payments rose 9.16% to 3.88 billion leks.

Voluntary insurance claims payments increased 14.15% to about 1.64 billion leks, while premiums reached 5.23 billion leks.

Life insurance premiums rose 6.19% to about 1.60 billion leks, while claims payments increased 14.71% to around 260 million leks.

AMF said market growth was driven by motor, health and accident insurance, as well as insurance products linked to lending.

Claims activity remained broadly stable in recent months, both in terms of payments and the number of cases, the regulator said.

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Gross written premiums rose to about 27.1 billion leks, up 10.5% from 2024, while the number of insurance contracts increased 5.1% year on year to 1.68 million.

Non-life insurance continued to dominate the market, accounting for 91% of total premiums, while life insurance made up 9%. Reinsurance remained marginal. Mandatory insurance represented 62.4% of total premiums, compared with 37.6% from voluntary policies.

Gross claims paid in 2025 stood at around 8.6 billion leks, down 0.8% from the previous year. Motor insurance remained the largest segment, with claims payments of 6.5 billion leks, or more than 76% of the total.

Premiums from mandatory motor insurance rose 12.2% year on year to about 16.9 billion leks. Within this segment, domestic MTPL insurance recorded growth in both premiums and contracts, while Green Card insurance saw higher premiums but fewer contracts. Border insurance posted a slight decline in both volume and contract numbers.

Voluntary insurance generated revenues of about 10.2 billion leks, up 7.9% from 2024, while the number of contracts increased by 10%. Property and liability insurance accounted for roughly 4.2 billion leks, led mainly by fire and property damage coverage.

Accident and health insurance premiums reached about 1.4 billion leks, up 3.7%, while life insurance recorded strong growth, with gross written premiums rising 17.6% to around 2.4 billion leks.

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The expansion reflects rising demand for insurance products, AMF said, adding that the number of contracts rose by 5.12% to 1,384,414.

Non-life insurance continued to dominate the market, accounting for 91.65% of total premiums, while life insurance represented 8.32%.

The figures show the market remains heavily oriented toward property and accident coverage rather than long-term life insurance products.

Compulsory motor third-party liability insurance (MTPL) posted strong growth of 13.97%, supported by a 7.47% increase in the number of contracts. Border insurance declined slightly by 1.47%.

Voluntary insurance products also grew, with written premiums up 6.79% to 8.493 billion lek. Property and liability insurance contributed significantly, particularly fire and natural disaster coverage, which rose by 4.53%.

Life insurance registered notable growth of 13.87% during the period.

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Gross written premiums reached 17.9 billion lek, up 9.53% compared with the same period in 2024, while the number of insurance contracts rose 6.12% year-on-year to over 1.1 million.

The market remains dominated by non-life policies, accounting for 91.57% of total premiums, while life insurance represents 8.40% and reinsurance just 0.026%.

Mandatory policies made up 61.84% of the market, with voluntary insurance covering the remaining 38.16%.

Meanwhile, gross claims paid declined by 2.27% to 5.47 billion lek. However, within motor insurance, claims rose 2.59% to 4.2 billion lek, underlining stronger dynamics in this segment.

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Speaking on the panel “Resilience to Risks in the Digital Transformation Era”, Kaçi shared Albania’s experience as an emerging market facing challenges but also opportunities from digitalisation, noting that new technologies are expanding public access to insurance products.

She stressed the need for investment in technology infrastructure, stronger supervisory capacities, greater consumer trust, and consolidation of the regulatory framework to support innovation and sustainable market development.

Kaçi said the AMF is working to align national legislation with the EU acquis, including transition to the Solvency II regime, and to develop operational resilience plans in line with the EU’s Digital Operational Resilience Act (DORA).

The high-level panel, which included regulators and industry representatives from around the world, was moderated by Clement Cheung, chief executive of Hong Kong’s Insurance Authority.

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Cautioning  that users risk total loss of funds when dealing with unauthorized platforms, the financial regulator said in a statement on Wednesday that Netherex is a platform operating without a license, registration, or recognition to offer investment or virtual assets in the country.

According to AMF, under the national laws on capital markets and technology-based financial markets, no entity may offer trading or promote investment services in securities or trading in digital units and/or virtual currencies, within the territory of the Republic of Albania, without being licensed, registered, or previously recognized by the Financial Supervisory Authority.

“Any investment in such platforms may lead to the complete and irreversible loss of funds,” the AMF warned.

The financial regulator also emphasized that it cannot protect investors engaged with unregistered operators, urging the public to consult the AMF’s official registry of licensed entities before engaging in any financial transaction.

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This meeting takes place within the framework of the project that Financial Supervisory Authority is implementing with funding from the US Department of the Treasury, with the main focus on improving standards for protection against cyber security risks and improving the infrastructure of the Authority’s information technology systems, financial education and consumer protection in the field of insurance.

During the meeting, Kaçi highlighted the significance of this cooperation for strengthening supervisory capacities, financial education and increasing consumer awareness, as well as particularly appreciated the recommendations of experts in the field of Information Technology.

The senior leaders of OTA positively assessed the cooperation so far and expressed their readiness for further technical assistance for the Authority. /r.e/a.f/p.s./

Data from the Financial Supervisory Authority (AMF) show that insurance companies scored net profits of 894 million lek or 7.6 million euros in the first six months of this year.

The insurance market further improved in the second quarter following a 13% decrease in its earnings during the first quarter of this year.

The life insurance portfolio marked the highest increase in the first half of this year, with companies reporting net profits in the amount of 86 million lek, almost eight times higher compared to the same period a year ago.

Net premiums earned increased by 12%, primarily due to increased market volume and gross written premiums.

Insurance companies reported net profits of 808 million lek, up by 21% year-on-year, for the non-life insurance policies.

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This draft regulation defines the supervisory role of the Authority towards the Albanian Security Bureau, which must report according to the definitions, deadlines and content of new legal requirements.

Based on the legal changes, some of the points for which the Bureau has the obligation to report to the Authority have been added, including financing, investment and administration of the minimum value of the Compensation Fund, documentation for approval of the Bureau governing bodies, report and opinion of the actuary in relation to claims’ provisions, etc. The novelty of the law, reflected in this draft regulation are also the standardized forms, according to which the Bureau will report to the Authority.

Some of the innovations are related to the reporting and administration of the minimum value of the Compensation Fund, where according to legal changes there is set a minimum fund of 150 million ALL.

Also, the draft regulation defines the modalities of establishing and reporting the Green Card Fund. This fund is collected by the Bureau and is used in cases of accidents with international insurance police, occurring within the territory of Albania.

Pursuant to the legal changes, the draft regulation reflects as a separate article the manner of calculation and maintenance of reserves for damages subject to the Compensation Fund and the deposit in the Authority of the reports of the authorized actuary./p.s./

Mete gave an overview of the main developments during the unusual year 2020, marked by the effects of the pandemic and the continuing impact of earthquake damage at the end of 2019, while mentioning some of the measures taken by the Authority in order to guarantee financial stability.

At the beginning of his speech, the CEO pointed out that although the initial impacts of the pandemic were significant, the markets under the control of the Authority appeared resilient, while the indicators of the first quarter of this year suggest their return to normal.

According to preliminary data, the insurance market has increased by 12.5% ​​of income for January-March 2021, compared to the same period a year earlier, while the investment fund market has increased by 2.4% of net asset value for the first quarter of 2021, compared to the last quarter of last year, – said Mete.

He further presented some of the main measures taken by the Authority in order to maintain the financial stability of the markets and the continuity of the activity of the entities under supervision.

The decision to suspend the distribution of dividends, as well as the action plan with a sense of recovery for 2 insurance companies influenced the improvement of the financial indicators of the insurance companies, especially in a difficult year where there was a decrease of 5.73% of premium income.

The insurance market increased its capital by ALL 1.85 billion compared to a year ago. The solvency ratio for Non-Life insurance companies increased significantly, by 67%, from 106% in 2019 to 173% in 2020. The insurance market also marked improvements in the ratio of covered assets of provisions. Currently, this indicator for the Non-Life market is at the level of 131.6%, while for Life 130.2%.

Referring to the treatment of damages after the two earthquakes at the end of 2019, Mete said that last year about 3 billion ALL were paid in damages, while 90% of the practices were closed through compensation payments.

Insurance companies have generally handled earthquake damage correctly. It turns out that only 6 cases have been appealed so far in court out of a total of 6295 claims for compensation in connection with the two earthquake events.

Mete stated that with the adoption of new laws for the supervised markets, the Authority remains committed to completing the entire regulatory framework to make them fully enforceable. He also mentioned some of the main directions of the Authority’s activity during this year and onwards, with a focus on improving supervisory practices, progress towards basic international principles in insurance, deepening the use of technology and modernization of reporting systems, etc./p.s./