We paid 4.6 billion lek for car insurance - AMF: In 4 months, all products experienced an increase in premiums
Insurance companies' revenues from the money Albanians pay for car insurance reached 4.6 billion lek at the end of the fourth quarter. The latest data from the Financial Supervisory Authority shows that companies have collected 14.26% more premiums than last year.
Most of the revenue comes from domestic MTPL insurance, while border and green card insurance account for a smaller share.
Specifically, domestic MTPL insurance, i.e. motor vehicle insurance for liability to third parties in cases where the insured is involved in an accident and is liable for material, property or health damage, in January-April 2025 saw an increase of almost 14%, thus bringing the total gross written premiums to 3.8 billion.
For all vehicles registered in Albania that travel abroad, Green Card had an increase of 17.40% in the volume of gross written premiums and a 22.37% increase in the number of contracts compared to the same period a year ago.
From February 1st of this year, all cars traveling to Montenegro benefited from a discount on the insurance price for the "Green Card". From the €400 premium for 1 year, they now pay only €50, while the premium for 15 days continues to be €15.
Meanwhile, as of April 1, Albanian citizens also gained the opportunity to travel to North Macedonia with a 1-year "Green Card" insurance policy, at a reduced price of 50 Euros. Meanwhile, there have been requests for such a discount to also apply to vehicles traveling to Greece.
On the other hand, the border insurance product, for vehicles with foreign license plates circulating within the territory of Albania, has seen an increase of 6.18% in gross written premiums, while the number of contracts increased by 4.71%.
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