The Insurance Industry in Albania, Key Trends and Opportunities to 2017

Date: 2015-09

Albania has a small but developing insurance industry, which is recovering from the effects of the global financial crisis in 2009 and 2010. Three life and nine non-life insurance companies were operative by the end of 2012 in Albania. In 2012, due to the influence of mandatory motor insurance, 83.2% of the industryโ€™s overall written premium was generated by the non-life segment. The Albanian insurance industry registered a slight decline during the review period (2008โ€“2012) at a compound annual growth rate (CAGR) of -0.5%. However, the large uninsured population in the country provides the industry with forecast-period (2012โ€“2017) growth potential.

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