Uniqa Group Austria, an insurance group, has purchased 46% of the share capital of the Albanian insurance company, Sigal, from former shareholders.

The transaction is still subject to the approval of the local authorities. Within the framework of the cooperation between Uniqa and Sigal to date, initial joint product developments in the area of life and health insurance have already been positioned on the market.

Konstantin Klien, CEO of Uniqa, said: The positive experiences we had in the past months of close cooperation with Sigal have moved us to skip a step in our staged plan for acquiring a majority of the company and purchase 46% already at this time. Uniqa hereby sends a clear signal of commitment to the dynamically developing region in general and to Sigal in particular.