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

Jona Puci, Albana Demi and Bleona Seferaj
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Jona Puci: Canadian Institute of Technology, Tirana, Albania
Albana Demi: Aleksander Moisiu University, Durres, Albania
Bleona Seferaj: Canadian Institute of Technology, Tirana, Albania

Journal of Financial Studies, 2023, vol. 14, issue 8, 110-119

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.

Keywords: Insurance market; ROA; company size; capital volume; liabilities; liquidity; fixed assets; profitability. (search for similar items in EconPapers)
JEL-codes: C12 C23 G22 L25 M21 (search for similar items in EconPapers)
Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:fst:rfsisf:v:14:y:2023:i:8:p:110-119

DOI: 10.55654/JFS.2023.8.14.8

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