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SiCRED Group publishes Annual Report 2012

ANNUAL REPORT 2012
Dear reader,
We are delighted to share with you our Annual Report 2012. During 2012, the gross written premium by SiCRED sh.a., was about 308 million ALL, whilst the premium of the financial year for 2012 was approximately 207 million ALL. The Paid Claims in 2012 amount to over 23 million ALL, with a higher percentage of 2.47% compared to the previous year. At the end of 2012, the number of insured persons by the Insurance Company SiCRED sh.a., was approximately 47 000 clients. The total assets increased with 20.96% in 2012 and reached over 1 billion ALL. The year 2012 was the first year of activity for the Pension Fund Management Company SiCRED sh.a., after its re-licensing by AFSA (Albanian Financial Supervisory Authority) in November 2011. The company is owned by SiCRED sh.a. with a total of 75% shares. The Company in 2012 reached 1,723 members (2011: 1,093 members), while the Net Value of Assets Fund amounted to 34,867,856.27 ALL (2011: 21,103,674 ALL) as of 31st December 2012.
Additionally, this year represents the year of the successful enlargement of the group activity in the field of advisory services and work safety. SiCRED Assistance sh.p.k was founded on 26 June 2012, as the first company in Albania established to provide advisory services to employers on safety and health at work.

Download Annual Report 2012 (link: Annual Report 2012)
(November 27, 2013)

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