50% decrease in claims paid for Green Card - AFSA: Insurance companies spent a total of 2.6 billion lek on claims
Insurance companies have spent less money on covering damages to vehicles involved in accidents, but not only, in January-April 2025. According to the latest data from the Financial Supervisory Authority, insurance companies have paid 2.6 billion lek in damages in the first four months of this year, about 4% less than in the same period a year ago.
In fact, companies have paid a larger number of claims, but the claims have been small and as a result the payments have not been very costly.
But which insurance product has had the greatest impact on this decline?
Insurance companies have compensated fewer citizens in the period January-April for products related to non-life insurance. Specifically, the amount of claims paid in non-life activity decreased by 3.6%. The total impact was also affected by the decrease in claims payments from the Compensation Fund.
The largest share of gross claims paid belongs to motor insurance with almost 2 billion lek, or 74.61% of the total. However, in the first four months of 2025, there was a 2.5% decrease in gross claims paid for motor third-party liability. Insurance companies have paid less money for the Green Card. Official figures speak of a 50% decrease in payments for damages caused to vehicles with Albanian license plates traveling outside the territory of Albania.
In terms of the number of claims paid, about 96% belong to non-life activity and only 4% are registered in life activity.
According to the Institute of Statistics (INSTAT), during the period January-April 2025, the number of road accidents also decreased by 17.4%, compared to the same period a year earlier.
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