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SIGAL UNIQA Group AUSTRIA .
SIGALUNIQA Group AUSTRIA
.
Information
• Premium per capita in Central and Eastern Europe: EUR 175.9 (US$ 228.6)• Premium per capita in Europe: EUR 1,509.5 (US$ 1,962.4)
Total Albania Kosovo Macedonia
Population (in million) 7.1 3.2 1.9 2.0
GDP 2007 (in US$ billion) 21.1 10.6 2.9 7.6
GDP / capita 2007 (in US$) 2,972 3,312 1,526 3,800
GDP average annual growth
2007 = 6.0% 4.2% 5.1%
2007 - 2011 = 6.1% 3.1% 5.5%
Premium volume 2007 (million EUR) 198.5 47.9 50.8 99.8
Premium / capita 2007 (EUR) 28.0 15.0 26.7 49.9
Premium average annual growth
last 5 years (2002 – 2007) 8.7% 15.0% 10.6% 5.3%
last 3 years (2004 – 2007) 11.2% 21.6% 7.5% 8.8%
Market(s) annual premiums (5 years)
2004 2005 2006 2007 2008Total € 154,630,300 € 160,612,800 € 175,162,500 € 198,465,100 € 223,581,400
Albania € 32,517,000 € 32,357,500 € 36,619,700 € 47,836,400 € 57,266,100
Kosova € 38,286,800 € 43,963,900 € 48,734,400 € 50,811,100 € 56,315,300
Macedonia € 83,826,500 € 84,291,400 € 89,808,400 € 99,817,600 € 110,000,000*
54% 52% 51% 50% 49%
25% 27% 28%26%
25%21% 20%21%
24%26%
€ -
€ 50,000,000
€ 100,000,000
€ 150,000,000
€ 200,000,000
€ 250,000,000
2004 2005 2006 2007 2008Macedonia Kosovo Albania
Premium structure 200811%
68%
1%
19%1%
Total
Life, PA & Health Motor Marine & AviationProperty & Liability Credit & Guarantees
12%
64%
1%
21%2%
AL
Life, PA & Health Motor Marine & AviationProperty & Liability Credit & Guarantees
14%
62%
2%
22%0%
MK*
Life, PA & Health Motor Marine & AviationProperty & Liability Credit & Guarantees
3%
85%
1%10% 1%
KS
Life, PA & Health Motor Marine & AviationProperty & Liability Credit & Guarantees
Remarks
• The insurance markets have grown substantially in the recent years• Insurance premiums growth higher than GDP growth• Considerable growth potential in the future• GDP growth will especially stimulate the further development of Non
Life insurances• Compulsory insurance lines also an important factor driving growth
(liabilities, accidents/health, transport)• New products and improved sale channels are necessary for the
development of Life insurance• The development of Life insurance is also dependent on the
government policies (fiscal) and investment markets
• SIGAL Holding has been establishedas an investment company in 2007and is the sole shareholder of the‘SIGAL’ companies
• Currently UNIQA International owns46% of the shares in SIGAL Holding,with an option of acquiring aminimum of 75% within 31st March2010
SIGAL Holding
SIGAL AlbaniaNon Life Ins. & Reinsurance
SIGAL KosovoNon Life Insurance
SIGAL MacedoniaNon Life Insurance
SIGAL LifeLife Insurance
SIGAL
February 1999 SIGAL Albania (Non Life) established and registered in Tirana
2002 SIGAL Albania becomes the market leader with 30% market share (US$ 8.0 million)
October 2003 The Albanian American Enterprise Fund (AAEF) becomes the first ever foreign investorin the Albanian insurance market by acquiring 13.3% of the shares in SIGAL Albania
October 2003 Completed the acquisition procedures of an existing insurer, SIGAL Kosovo Branchbegins operations in Kosovo
August 2004 SIGAL Macedonia is authorized by the Macedonian Supervisory Authority and beginsoperations
September 2004 SIGAL Life is established in Albania and authorized to exercise Life insurance
February 2006 SIGAL Albania is authorized to exercise inward reinsurance, thus becoming aninsurance and reinsurance company
December 2006 Annual premium income € 19.2 million, Equity € 11.4 million
March 2007 SIGAL Holding established and registered in Tirana, consolidating the shareholdingstructure of the four SIGAL companies
March 2007 Signing of the SIGAL – UNIQA Agreement
December 2007 UNIQA acquires 45.8% of SIGAL Holding shares
December 2008 Annual premium income € 27.7 million, Equity € 19.2 million
SIGAL annual premiums (5 years)
71.1%
59.0%
52.6%
58.1%
58.8%
27.9%
26.3%
26.7%
22.6%
22.0%
1.0%
14.7%
20.7%
19.3%
19.2%
€ 0 € 5,000,000 € 10,000,000 € 15,000,000 € 20,000,000 € 25,000,000 € 30,000,000
2004
2005
2006
2007
2008
Albania Kosova Macedonia
2004 2005 2006 2007 2008Total € 14,339,200 € 15,980,600 € 19,340,600 € 23,445,500 € 27,663,700
Albania € 10,192,500 € 9,434,700 € 10,174,400 € 13,615,900 € 16,264,300
Kosova € 4,009,700 € 4,194,700 € 5,160,000 € 5,304,800 € 6,085,400
Macedonia € 137,000 € 2,351,200 € 4,006,200 € 4,524,800 € 5,332,000
SIGAL premium development• Total EPI 2008: € 27.7 million – average 20% annual increase
– Albania: € 16.3 million– Kosovo: € 6.1 million– Macedonia: € 5.3 million
SIGAL premium structure 2008
11%
61%
6%3%
15%4%
Total
Life, PA & Health MTPL Motor PDMarine & Aviation Property & Liability Credit & Guarantees
16%
48%7%
4%
21%
4%
AL
Life, PA & Health MTPL Motor PDMarine & Aviation Property & Liability Credit & Guarantees
3%
82%
4%
5%6%
KS
Life, PA & Health MTPL Motor PDMarine & Aviation Property & Liability Credit & Guarantees
6%
78%
6%
10%
MK
Life, PA & Health MTPL Motor PDMarine & Aviation Property & Liability Credit & Guarantees
SIGAL – Key figures 2008Employees 244
Head Offices 112
Branches 132
Agents 592
Gross premium € 27,663,687
Net premium € 24,405,225
Net profit (after tax) € 3,442,307
Equity € 19,206,092
Gross premium / Equity 1.44
Net premium / Equity 1.27
ROE 17.9%
Annual premiums SIGAL Albania (5 years)
2004 2005 2006 2007 2008Total € 10,192,500 € 9,434,700 € 10,174,400 € 13,615,900 € 16,246,300
Life, PA & Health € 600,700 € 875,900 € 1,158,600 € 1,634,000 € 2,520,900
Motor € 7,058,700 € 5,744,400 € 6,306,400 € 8,728,600 € 8,770,000
Marine & Aviation € 868,100 € 403,300 € 534,300 € 461,700 € 673,500
Property & Liability € 987,800 € 1,839,100 € 1,689,300 € 2,271,500 € 3,606,600
Guarantees / Bonds € 677,200 € 572,000 € 485,900 € 520,100 € 675,300
65% 60% 56%58% 49%
29%31% 33%
30% 37%6%9%
11%
12%
16%
2004 2005 2006 2007 2008MTPL Other Non Life Life, PA & Health
SIGAL/UNIQA share in the Albanian insurance market
• In Albania SIGAL/UNIQA has 28.1% of the total market• According to classes of business:
– 24% of the Motor market– 39% of the Life, PA & Health market– 33% of the other classes
24%
7%17% 15%
10% 11% 11%6%
33%
30%
13%6%
11% 3% 2%2%
39%
24% 4%
4%5%
4% 4%3%
14%
SIGAL/UNIQA INSIG SIGMA/VIG Atlantik Interalb Albsig Intersig Eurosig Sicred
MTPL Other Life, PA&H
SIGAL Albania (Non Life) Key figures2008Employees 116
Head Offices 45
Branches 71
Agents 385
Gross premium € 14,544,790
Net premium € 12,716,189
Net profit (after tax) € 1,854,846
Equity € 13,261,507
Gross premium / Equity 1.10
Net premium / Equity 0.96
ROE 14.0%
SIGAL Life - Key figures 2008Employees 14
Head Offices 10
Branches 4
Agents 12
Gross premium € 1,701,580
Net premium € 1,356,864
Net profit (after tax) € 597,753
Equity € 3,790,028
Gross premium / Equity 0.45
Net premium / Equity 0.36
ROE 15.8%
Annual premiums SIGAL Kosovo (5 years)
2004 2005 2006 2007 2008Total € 4,009,700 € 4,194,700 € 5,160,000 € 5,304,800 € 6,085,400
PA & Health € 9,500 € 92,200 € 68,200 € 59,200 € 165,600
Motor € 3,663,400 € 3,867,200 € 4,761,800 € 4,971,900 € 5,235,400
Marine & Aviation 0 0 0 € 400 € 35,100
Property & Liability € 336,800 € 235,300 € 126,600 € 107,400 € 300,400
Guarantees / Bonds 0 0 € 203,400 € 165,900 € 348,900
90% 88%91% 92% 82%
10% 10%
8% 7%15%
0% 2%
1% 1%3%
2004 2005 2006 2007 2008
MTPL Other Non Life PA & Health
SIGAL/UNIQA share in Kosovo insurance market
• In Kosovo SIGAL/UNIQA has 13.4% of the total market• According to classes of business:
– 14% of the Motor TPL market– 13% of the other classes
14% 13% 11%
18% 18%
11%8%
4% 3%
13% 15%3%
15%27%
4%
1%
12%10%
SIGAL/UNIQA SIGMA/VIG INSIG Siguria Dukagjini/Sava Kosova e Re Dardania Sigkos Croatia
MTPL Other
SIGAL Kosovo - Key figures 2008Employees 56
Head Offices 31
Branches 25
Agents 38
Gross premium € 6,085,367
Net premium € 5,570,626
Net profit (after tax) € 605,767
Equity € 3,605,767
Gross premium / Equity 1.69
Net premium / Equity 1.55
ROE 16.8%
Annual premiums SIGAL Macedonia (5 years)
2004 2005 2006 2007 2008Total € 137,000 € 2,351,200 € 4,006,200 € 4,524,800 € 5,332,000
PA & Health € 15,600 € 158,100 € 251,100 € 195,00 €316,700
Motor € 111,500 € 1,879,300 € 3,414,900 € 4,013,100 € 4,463,200
Marine & Aviation 0 € 10,700 € 700 € 5,900 € 12,700
Property & Liability 9,900 € 303,100 € 339,500 € 300,400 € 539,400
Guarantees / Bonds 0 0 0 € 9,500 0
74%74%
82%84% 78%
19%
19%
12%11%
16%
6%
7%
6%4%
6%
2004 2005 2006 2007 2008
MTPL Other Non Life PA & Health
SIGAL/UNIQA share in Macedonia insurance market
• In Macedonia SIGAL/UNIQA has 4% of the total market• According to classes of business:
– 7% of the Motor TPL market– 1% of the Life, PA & Health market– 1% of the other classes
7% 7% 5%
32%
17%8% 11% 7% 4% 2%
1% 3%0%
57%
11%21%
2%3% 2% 0%
1% 1% 0%
14%
36%5%
10%16%
5% 0%
5% 6%
Motor Other Life, PA&H
SIGAL Macedonia - Key figures 2008Employees 58
Head Offices 26
Branches 32
Agents 157
Gross premium € 5,331,950
Net premium € 4,761,546
Net profit (after tax) € 383,941
Equity € 3,999,177
Gross premium / Equity 1.33
Net premium / Equity 1.19
ROE 9.6%
