On July 8, 2025, the Albanian Financial Supervisory Authority, in partnership with the World Bank, launched the quantitative impact study (QIS) to prepare for the introduction of Solvency II framework to align the country’s insurance sector with European standards. A hybrid workshop brought together regulators and insurance companies to kick off the data-driven assessment that will guide Albania’s gradual transition to Solvency II.

Solvency II is the European Union’s regulatory framework for insurance companies, designed to strengthen financial stability and consumer protection through risk-based supervision. The QIS will assess how Albanian insurers would perform under these new rules. Results from the study will inform transitional measures and support a phased approach to compliance.

The launch follows months of technical preparation under the Albania Financial Resilience and Development Project, supported by the Swiss State Secretariat for Economic Affairs (SECO) through the Finance for Development (F4D) Umbrella Program. Prior capacity building workshops equipped participants with the tools and knowledge to tackle key Solvency II components, including the Standard Formula, technical provisions, and quantitative reporting templates