VIG expands in Albania with new life insurance company

Vienna Insurance Group (VIG) is strengthening its presence in Southeast Europe with the launch of Vienna Life, a newly established life and health insurance company in Albania. The insurer received its corporate license from the Albanian Financial Supervisory Authority on December 24, 2024—exactly 200 years after VIG’s origins.

Vienna Life joins SIGMA and Intersig, VIG’s existing non-life insurance companies in Albania, expanding the Group’s offerings to cover the full spectrum of insurance solutions. VIG currently holds a 22% market share in Albania, with a 20% return on equity.

The new company will focus on risk products, including credit protection and term insurance, alongside savings-oriented products such as traditional life insurance and pension solutions. Health insurance will also play a key role in its portfolio.

VIG has been operating in Albania since 2007 and sees significant growth potential in the market due to low life insurance penetration and increasing demand for financial protection products.