Uniqa Group Strengthens Market Position in SEE Region

Published: November 21, 2011; 12:51 · (Vindobona)

The Austrian insurance company expands its market leadership in Albania and is ranked on number two in Kosovo.

Uniqa Group Strengthens Market Position in SEE Region / Picture: © Vindobona.org

The Uniqa group could extend its market position in South Eastern Europe since the insurance company has entered the market. Currently, Uniqa operates in 21 markets and sees “excellent growth opportunities in the markets Albania, Kosovo and Macedonia”.

Wolfgang Kindl, CEO of Uniqa International comments: “We have proved that people in that region have confidence in us. This confidence is justified, which became obvious in Albania. Here, we could expand our market leadership in the first quarter of 2011 clearly.” Uniqa International realizes 40% of the premium income of Uniqa group.

The insurance company also refers to „satisfying results“ in Kosovo, where Uniqa reached a market share of 12.9% in the first half of 2011. Premium income amounted to € 5.0m, which is a rise by 11.1%. The market share grew by 0.2 percentage points. Meanwhile, the insurance group is ranked on number two in the local insurance market. In September, Uniqa managed to receive the license for the life insurance segment.

In Macedonia, Uniqa aims to expand its market share through offering new insurance service. Here, the company achieved a rise in premiums by 14.5% in 2010. Average market growth amounted to 4.8%. Uniqa is represented in the segments of life insurance and property insurance, the market share is currently 6.6%. In the property insurance segment, Uniqa´s market share accounts for 7.1%.

In Albania, the market share could grow further by 2.9 percentage points to 36.1%. In the life insurance segment, Uniqa´s share reached 50.7%. Premiums could be raised by 20.1%. Regarding the property and health insurance segment, market share is 34.1%.

Due to a low insurance density and high growth perspectives, Uniqa expects that the markets in Albania, Macedonia and Kosovo offer strong future growth opportunities.