Around 112 thousand new insurance contracts in 2025 - AFSA: The insurance market also increases its performance in premiums collected
Although at a slow pace or with occasional fluctuations, a greater insurance culture is being cultivated among Albanians from year to year. This is noticeable in the increase in the volume of collections from insurance companies and the number of contracts concluded.
Official statistics show that the number of Albanians paying for insurance has increased. The latest data from the Financial Supervisory Authority shows that income from gross written insurance premiums reached a value of almost 18 billion lek, about 9.5% more than in the first eight months of 2024.
If we refer to the number of contracts, 18.7% more were signed in January-August than in the same period of the previous year. Specifically, in January-August 2024 there were over 97 thousand contracts, while in 2025 it reached 112 thousand.
The market remains oriented towards Non-Life insurance, which brought in 91.57% of the total premium volume, while Life insurance has 8.40% and reinsurance with a negligible percentage. From the perspective of market division by type of insurance, compulsory and voluntary, gross written premiums of voluntary insurance account for 38.16% and gross written premiums of compulsory insurance account for 61.84% of the total market.
Non-life insurance continues to dominate due to the large volume of premiums generated by auto insurance.
From January 1st of this year, the implementation of the new vehicle insurance scheme, bonus-malus, began, which determines a new calculation of the insurance premium based on risk factors. The new regulation foresees an increase in the price of the insurance premium for individuals who are young, who have little experience in driving a vehicle with a high engine power registered in the Tirana district, who will have a history of accidents, while for those who will not commit accidents there is a reduction in the price of the insurance premium.
Given that the accident history prior to this year has been erased and 2025 is considered to have zero previous accidents for drivers, 2026 will be the year that will bring significant changes to the insurance market, as new insurance prices will be set then.
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