MAI Insurance Group will offer broker services to the region, including the newly independent Kosovo
The first (re)insurance broker has opened its doors to clients in Albania.
MAI Insurance Group announced the opening of MAI sh.a. Insurance and Reinsurance Brokers. It is the only insurance broker in the world with risk advisory and transactional capabilities in Albania.
Plarent Hamzaj, the managing director of MAI sh.a., joins MAI with over 10 years experience in the local insurance market.. He has previously worked as head of the underwriting department of a life insurance company. He has also served as general secretary of the Association of Albanian Insurers and with the Financial Supervisory Authority.
‘It is always good to be the first in the market,’ said Plarent Hamzaj, ‘but it will be a challenge to remain number one.’
Jeffrey Manners, the CEO of MAI Insurance Group, added: ‘Plarent has built a strong team that is capable of offering foreign and domestic clients the full range of MAI broker services to the highest professional standards. His office will also cover the newly independent state of Kosovo.’
MAI INSURANCE GROUP (MAI) is an insurance group specializing in Central and Eastern Europe. Established in 1990, MAI CEE has grown over the last 18 years to become a regional leader with a presence in 13 countries. In 2007 it handled insurance and reinsurance premiums in excess of Euros 200m.
MAI has two main divisions:
1) Insurance and Reinsurance Broking â€“ with offices in Albania, Croatia, Czech Republic, Georgia, Hungary, Latvia, Lithuania, Poland, Romania, Russia, Serbia, Slovakia, and Ukraine. Service partners in Armenia, Belarus, Bulgaria, Estonia, Kazakhstan, Moldova, and Slovenia.
2) Insurance Underwriting â€“ MAI has underwritten motor insurance in Hungary since 1998 as an underwriting agency. In 2007 MAI capitalized a new insurer, AIM Insurance Company in Hungary, which underwrites motor insurance in Hungary and other Central and East European EU states.