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Towards the improvement of financial performance of the insurance sector in Albania

Author

Listed:
  • Jona Puci

    (Canadian Institute of Technology, Tirana, Albania)

  • Albana Demi

    (Aleksander Moisiu University, Durres, Albania)

  • Bleona Seferaj

    (Canadian Institute of Technology, Tirana, Albania)

Abstract

This paper explores the impact of a company’s performance on the economy, with a focus on Albanian insurance companies and their importance in the non-banking financial sector. The paper aims to analyze the profitability of these companies by examining various internal factors such as company size, capital volume, liabilities, liquidity, growth rate, and fixed assets, with a specific focus on their return on assets (ROA). To achieve this objective, the paper uses quantitative methods to study the relationship between these variables. The sample comprises 10 companies in the Albanian insurance market, including both life and non-life insurers, studied between 2014 and 2021. The results show that only company size has a positive impact on profitability, while not all other variables were significant, irrespective of their direction. Ultimately, the paper demonstrates that a company’s good performance can positively affect the economy in which it operates.

Suggested Citation

  • Jona Puci & Albana Demi & Bleona Seferaj, 2023. "Towards the improvement of financial performance of the insurance sector in Albania," Journal of Financial Studies, Institute of Financial Studies, vol. 8(14), pages 110-119, May.
    • Handle: RePEc:fst:rfsisf:v:8:y:2023:i:14:p:110-119
    DOI: 10.55654/JFS.2023.8.14.8
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    More about this item

    Keywords

    Insurance market; ROA; company size; capital volume; liabilities; liquidity; fixed assets; profitability.;
    All these keywords.

    JEL classification:

    • C12 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General - - - Hypothesis Testing: General
    • C23 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Models with Panel Data; Spatio-temporal Models
    • G22 - Financial Economics - - Financial Institutions and Services - - - Insurance; Insurance Companies; Actuarial Studies
    • M21 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Economics - - - Business Economics
    • L25 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Firm Performance

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