Albanian insurance company, SIGMA, announced FY 2004 financial results
Uncategorized Saturday, April 30th, 2005Tirana, April. 30 (AENews) – EUR3.2 million was the net profit during FY 2004 for the Albanian insurance company Sigma. “We have earned EUR1.5 million through our operations in Albania and EUR1.7 million through our branches in Kosova and FYROM”, CEO of SIGMA Qemal Disha told reporters.
The company’s total revenue for 2004 was estimated at EUR18.5 million, with EUR9 million earned in Albania and the remainder in Kosova and FYROM.
Sigma is the first privately owned insurance company in Albania operating since 1999.
They have a market share of 27.26 % for Albania, and are second by volume of activities in the country. Mr. Disha, however, likes to say that their company is the biggest Albanian owned insurance group in the Balkans. SIGAL, one of their competitors, has operations in Kosova and so does the state owned company INSIG, which operates in both Kosova and Macedonia.
Total assets of the company amount to EUR16 million. The Kosova branch totals at EUR4.7 million in assets, while the Macedonian branch has a total of EUR1.3 million, according to company data at the end of 2004.
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on Apr 30 2005. Filed under Uncategorized.
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