Albanians do not insure their property against fires - We rank among the last in Europe. AMF: 6% drop in premiums from this policy
Despite the fact that Albania is one of the most vulnerable countries in Europe from earthquakes and other disasters, Albanians continue to fail to take any measures to insure their property against natural disasters.
The latest data from the Financial Supervisory Authority shows that gross written premiums from fire, natural disasters and other property damage insurance fell to 1.1 billion lek in the first five months of the year. Insurance companies' income from this policy has decreased by 6.48% compared to the same period last year.
On the other hand, claims paid for insurance against fire, natural disasters and other property damage have shown an even greater decline. According to official statistics, insurance companies have paid only 177 million lek in claims in the first five months of 2025, about 53% less than in January-May 2024.
Specifically, premiums written from fire and natural disaster insurance amounted to 891 million lek, while income from other property damage insurance reached 230 million lek.
According to Xprimm's annual report, Albania and Montenegro are last in the region and Europe in terms of insurance against fire and other damage that may occur to property.
According to the National Civil Protection Agency, 24 fires have been reported in the last 24 hours. Meanwhile, a few days ago, a 4.4 magnitude earthquake was recorded in Albania, which was accompanied by a series of aftershocks.
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