Together with SIGMA and Intersig – both focusing on the non-life business – Vienna Life is the third VIG insurance company operating on the Albanian market.
It is noted that with its dynamic growth and its low product density in life insurance, Albania offers an attractive market environment for VIG. The Group’s market share in Albania is 22%, the Return on Equity is around 20%.
Vienna Life will focus on risk products such as credit protection and term insurance and will also promote saving products such as traditional life insurance as well as pension solutions. In addition to life insurance, health solutions will make up a significant part of its portfolio.
“We’ve always believed in the potential of the Albanian market. Our local presence goes back to the year 2007 – almost 20 years in which we’ve continuously expanded our product- and service-portfolio in the non-life business and thereby managed to position ourselves under the top players. With the entry into the local life insurance market, we significantly strengthen our positioning and now cover the entire spectrum of insurance solutions, addressing retail and corporate customers”, commented Christoph Rath,
Country responsible VIG Board member for Albania.
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