| Business Profile
SIGAL sh.a was founded on February 22, 1999, after the liberalization of the insurance market in Albania and was later renamed SIGAL IG, by a group of local investors, headed by Mr. Avni Ponari, a well-known personality in the insurance market as well as in a number of businesses with a great impact on the country’s economy.
Thanks to the excellent strategy, business model, financial management by its managers and the hard work of its employees, SIGAL sh.a grew rapidly, gaining a dominant and powerful positioning, transforming it into the largest insurance company in the country and leading with about 30% of the insurance market.
SIGAL sh.a is the first company to attract the attention and capitalization potential of foreign investors, initially through the Albanian-American Enterprise Fund, which purchased 13.3% of the company’s shares and then the Austrian insurance giant throughout Southeast Europe, UNIQA Group Austria.
Today, SIGAL IG is the leading, most successful, largest and most trusted insurance company in the region, recognized as such by its network of clients and partners. SIGAL IG has become a regional insurance group, with 8 Life and Non-Life insurance companies, Reinsurance and Pension Fund. SIGAL IG is the only company that offers all classes of insurance with 42 products, with around 2,000 employees and agents, and over 1,200 offices where it operates and develops its activity in 3 countries: Albania, Kosovo and North Macedonia.
SIGAL is the largest and most trusted Insurance company.
Since 2007, SIGAL is part of one of the largest financial groups in Austria, UNIQA Insurance Group which is the biggest shareholder by owning around 87% of shares. UNIQA GROUP is one of the leading companies of insurance market in Austria and in Central and Eastern Europe. Over 20,000 employees serve to 10 million customers in 18 states, by which 15 Central and Eastern Europe countries.
The Austrian giant of insurances, with a history of over 200 years of experience in the insurance market owns 32 billion euros in assets and over 7 billion euros in premiums each year.
By 21% of the market, UNIQA is the second biggest company in Austria. In 2016, UNIQA Group launched its challenging programme of last decades titled “UNIQA 2.0”, which consisted of an 500 million of euros investment to enhance the company’s processes and products to be re-oriented according to the customer’s needs and expectations by compassing its activities and operations to digital transformation of the company.
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