SIGAL (insurance company)

SIGAL UNIQA GROUP AUSTRIA
Insurance company
Industry Financial services
Founded 1999
Headquarters Tirana, Albania
Area served
 Albania, Kosovo, Macedonia
Key people
 Avni Ponari (CEO)
Products Life and non-life insurance
Website Official website

SIGAL UNIQA Group AUSTRIA is a group of 7 insurance companies and 1 private pension fund that operate successfully in Albania, Kosovo and Macedonia. Part of SIGAL Group are the following companies: SIGAL UNIQA Group AUSTRIA (Non-Life, Albania), SIGAL Life UNIQA Group AUSTRIA (Life, Albania), SIGAL UNIQA Group AUSTRIA Kosova (Non-Life, Kosova), SIGAL Life UNIQA Group AUSTRIA Kosova (Life, Kosova), UNIQA Skopje (Non-Life, Macedonia), UNIQA Life Skopje (Life, Macedonia), SIGAL UNIQA Group AUSTRIA Reinsurance and the Management Company of Private Pension Fund SIGAL Life UNIQA Group AUSTRIA.[1]

SIGAL UNIQA was founded in 1999 and leads the Albanian insurance market for both non-life and life insurances and well as for private pensions as it holds overall more than 30% of the market.[2][3]

SIGAL UNIQA is the first insurance company in Albania that attracted foreign investments. In October 2003 The Albanian-American Fund of Enterprise became the first shareholder of SIGAL by acquiring 13.3% of shares. Thanks to this agreement A.A.E.F provided financial and management support not only to SIGAL but also to the entire insurance market in Albania and in the region where it operates.[4]

Since March 2007 SIGAL is part of UNIQA Group AUSTRIA, the company that operates in 21 European countries, one of the biggest financial groups in Europe, awarded with “A” by “Standard& Poor’s”, with 24.6 Billion Euro under management and more than 7.5 Million clients. UNIQA Group AUSTRIA is the biggest stakeholder of SIGAL UNIQA Group AUSTRIA as it holds 68.64% of shares. Based on this, more than 80% of SIGAL UNIQA’s capital is foreign investment.[5]

At the international level, SIGAL UNIQA Group AUSTRIA has been continually awarded by Finance Central Europe as “The Best Insurance Company in Albania”, SEE News listed SIGAL UNIQA among Top insurance companies in the region and Business Initiative Directions awarded SIGAL UNIQA with the ‘International Star for Quality’[6] SIGAL UNIQA Group AUSTRIA offers more than 40 products in the life insurance, non-life insurance, reinsurance, and private pensions being so the only insurance company that offers all classes of insurance.

References

  1. ↑ http://www.xprimm.com/KOSOVO-SIGAL-UNIQA-obtains-license-to-operate-a-life-insurance-company-articol-2,10,118-1185.htm
  2. ↑ http://amf.gov.al/news.asp?id=1347
  3. ↑ http://www.insurope.com/network-members/members/sigal-uniqa-group-austria
  4. ↑ http://www.aaef.com/current-investment-portfolio/
  5. ↑ http://www.uniqagroup.com/gruppe/versicherung/uniqa-group/uniqa-in-europa/albanien/Albania.en.html
  6. ↑ http://sigal.com.al/home/03_aboutus/03_vleresime_nderkombetare/
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