Vienna Insurance Group - Development of the Albanian Insurance Market June 2008

2 VIG is the Leading Austrian Insurance Group operating in 23 countries

3 Albanian Insurance Market by the end of 2007 Life insurance3,313 Non – Life Insurance44,697 a. Voluntary insurance13,432 b. Non – Voluntary31,265 Total48, Euro

4 Overview of Insurance Density Ongoing considerable and long-term growth potential in the CEE markets  EU-15 AUT CZHSKPLBGRO TR UKR  CEE AL

5 Challenges of the Albanian Insurance Market  Products Development of new products, increased scope  Supervisory influence on market Motor TPL reform Mandatory TPL insurance (non motor) Catastrophe pool Strengthen the supervisory authority  Market “culture” Improve understanding and perception of insurance business Improve cost awareness