Sigal Holding demonstrates strong growth & performance in 2009


Although year 2009 was a difficult year for the world economy and therefore also for the Albanian economy, it appears that Sigal Holding, which operates in Albania, Kosovo & Macedonia, has managed to escape the decline in markets and perform higher than expectations. SIGAL Holding which is an insurance company grew by over 21% in 2009 grew by 21 percent. At the AGM, attended by Director General, Mr Avni Ponari & also directors of departments and branches of SIGAL uniq GROUP AUSTRIA Albania (Non-Life), Life uniq SIGAL Austria Group (Life), uniq ad Skopje (Non-Life) and SIGAL uniq GROUP AUSTRIA Kosovo (Non-Life), performance in 2009 was analysed. Premiums increased by approximately €32 million. This increase has occurred in three markets of three states, in Albania, Kosovo and Macedonia

According to the annual report, "SIGAL uniq Austria Group, which operates in Albania, to market non-life insurance saw a growth in premiums of 20.6%, while domestic market growth was also impressive at 9:04%. Most notable was the growth in the market of life insurance where an increase in premiums of 89.39% was witnessed. This led to an increase of 39.79% in the life assurance market. Uniq ad Skopje, in Macedonia which operates in the market of non-life insurance grew by 9.71%. Kosovo SIGAL uniq Austria Group, which operates in the market of non-life insurance for Kosovo grew by 15:56%. Meanwhile, another important indicator for 2009 was in the Company reserves, which increased by 34% compared to 2008. Damages paid by the Holding company grew by 14%, equating to €8.6 million.

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