Behind Every Strong Guarantee, There Is a Solid Reinsurance Structure”

1. Although reinsurance is less visible to the public, it is a fundamental pillar of the insurance industry. How would you define its role?

Reinsurance is like the safety net of the insurance world—a mechanism that allows insurance companies to take on more risk while ensuring there is a second layer of protection in case of major events. For clients, it may be invisible, but for the financial sustainability of any company aiming for long-term success, it is absolutely essential.

2. What are the main challenges in establishing and managing reinsurance contracts in the Albanian market?

The challenges stem from the very nature of our market. Albania is a small and developing market, highly exposed to natural risks, with significant gaps in historical data needed for accurate analysis. This makes it crucial to build strong, long-term partnerships with reliable reinsurers who provide not only financial capacity but also technical expertise in risk assessment. Successful negotiations depend heavily on our reputation, transparency, and proactive approach as a company.

3. How important is it for an insurance company to secure favorable reinsurance contracts and strong partners?

It is vital. A well-structured reinsurance program gives a company the flexibility to operate securely, withstand extreme events without endangering its capital, and maintain stable pricing for clients. Our partners are not just contractors—they are co-pilots in risk management. Having world-class reinsurers such as VIG Re, Munich Re, and Swiss Re on our side translates into greater security and trust across the entire insurance industry.

4. SIGMA is part of the Vienna Insurance Group (VIG). How does this affiliation influence your relations with international reinsurers and the agreements you secure?

Being part of Vienna Insurance Group is a tremendous advantage. We don’t enter negotiations as a small standalone company from a small market—we negotiate as part of a group with more than 50 companies across Central and Eastern Europe. This provides us with greater bargaining power, direct access to consolidated reinsurance panels, more favorable financial terms, advanced technical structures, and strong support for developing new insurance products.

5. What are the long-term objectives of the reinsurance function at SIGMA VIG?

Our primary objective is to guarantee operational continuity and strengthen the financial resilience of the company in an increasingly complex and unpredictable environment. This includes building diversified and flexible organizational structures, capable of adapting to dynamic market developments and supporting long-term growth.

A key priority is preparedness for emerging and growing risks, such as climate change. To achieve this, SIGMA VIG is investing in the digital transformation of core processes, with a focus on intelligent data analytics to improve risk modeling and the assessment of both technical and financial resilience. This enables us to make fast, accurate decisions at the moments that matter most for our clients and partners.

Ultimately, we are building a robust architecture of protection, trust, and sustainability—where every promise SIGMA VIG makes to its clients is not just an insurance contract, but a commitment to long-term security, reliability, and partnership.