The insurance market in Albania grew by 8.9% during 2023.
According to the data published by the Financial Supervision Authority, the gross written premiums reached a total value of 22.9 billion ALL or about 220 million euros.
The market remains oriented towards Non-Life insurance, which brought 92% of the total volume of premiums, while Life insurance about 8%.
From the point of view of market division by type of insurance, compulsory and voluntary, the gross written premiums of voluntary insurance occupy 38.94% and the gross written premiums of compulsory insurance occupy 61.06% of the total market.
But which is the largest and most trusted insurance company in Albania?
The AMF data speak clearly: In Life and Non-Life Insurance, in mandatory and voluntary ones, SIGAL UNIQA Group Austria remains the largest and most trusted insurance company in Albania.
In Non-Life Insurance, 26%
In Life Insurance, 44.37%
In Property Insurance, 42.30%
In Accident and Health Insurance, 47.81%
In Private Health Insurance, 45.07%
In Motor Insurance, 21.14%
In Compulsory Insurance, 21.10%
In Voluntary Insurance, 36%
It could not be otherwise as the Albanian-Austrian company offers the best insurance products, is there for customers when they need it, respects every contract in accordance with the law, is a leader in direct claims payments, occasional offers and the opportunity for anyone to insure property, health or vehicle regardless of income.
Out of 8 companies operating in the non-life insurance market in Albania, the company that is part of the Austrian giant “UNIQA Insurance Group” remains at the top of the market, owning 27.5% of it. This figure has been constant since the establishment of the company in February 1999.
Even in terms of damages paid, SIGAL UNIQA Group Austria maintains the first place in the market as during 2023 it has paid its customers about 15 million Euros in damages.
During the past year, according to the figures of the AMF, SIGAL UNIQA Group Austria turns out to have paid over 23% of the total damages paid by the 12 insurance companies in Albania.
SIGAL UNIQA Group Austria, founded in Tirana in February 1999, is one of the largest insurance groups, first in Albania and then in Kosovo and North Macedonia.
It operates successfully in the three countries through its 8 companies: 3 Non-Life Insurance, 3 Life Insurance, 1 Reinsurance Company and 1 Private Pension Fund.
Since March 2007, SIGAL UNIQA is part of “UNIQA Insurance Group”, one of the most well-known insurance and finance names in Austria and Europe, spread over 17 different countries.
“UNIQA” counts over 16 million customers while it has been evaluated by “Standard & Poor’s” with “A”.
SIGAL UNIQA Group Austria’s portfolio is reinsured in the world’s largest markets as the company cooperates with big names such as: ‘UNIQA Re’, ‘Munich Re’ or ‘Hannover Re’, offering an extra guarantee to over 1.2 million customers her.
SIGAL UNIQA’s pace of progress has led many professional publications in the insurance field to appreciate it with many awards. Most recently it was “See News”, which ranked it among the Top 50 largest insurance companies in Southeast Europe.
SIGAL UNIQA Group Austria, we live better together
Web: www.sigal.com.al
E-mail: [email protected]
Whatsapp: 068 606 2829
