Albanians spent an average of 108 euros per capita on insurance in 2024

2025-08-22 07:28:00, Ekonomi CNA

The insurance premium per capita increased for the fourth consecutive year last year. According to data from the Financial Supervisory Authority (AMF), this indicator, also expressed as the density of insurance in the country, reached 10,634 lek (about 108 euros), an increase of 11.6% compared to the previous year.

The growth of the insurance premium per capita slowed significantly from the level of almost 25% in 2023. However, the strong growth in 2023 was mainly due to the revision of demographic data, following the Population Census, which showed a significant decrease in the total population.

The decrease in the total population, however, seems to have continued to have an impact last year, considering that gross written premiums increased by only 7%, less compared to the average premium level per capita.

Although insurance density in Albania is at the highest levels ever recorded, it is estimated that it still remains among the lowest in Europe.

The insurance density indicator continues to show large differences between Tirana and other regions of the country. AFSA statistics show that Tirana is the only region with average premiums per capita above the national average, at approximately 20,011 lek for the past year or 88% more than the national average. For Tirana, gross written premiums per capita increased by 6% compared to the previous year.

Tirana is also the only region with a relatively balanced premium structure, with compulsory motor insurance accounting for around 51% of gross written premiums. This can be explained by the concentration of voluntary products, such as business or property insurance, in the capital.

In the rest of the country, compulsory motor insurance accounts for between 84% (in Durrës) and almost 97% (in Kukës and Berat) of gross written premiums. The figures clearly show that, outside the capital, the insurance market in Albania is almost entirely a compulsory car insurance market.

After Tirana, the second region in terms of gross written premiums is Durrës, with approximately 7885 lek per capita.

Third is Vlora, with insurance premiums worth 7,819 lek per capita, Gjirokastra, with approximately 7,697 lek per capita, and Korça, with 7,506 lek per capita.

At the bottom of the ranking, with a significant difference from the other regions of the country, is Berat, with approximately 3384 lekë per capita. This amount is 32% of the national average and less than 17% of the maximum level, which is recorded in Tirana.

According to data from the Financial Supervisory Authority (AMF), last year gross written premiums reached a total value of 24.5 billion lek or about 249 million euros./ Monitor