Who are we

Who is SiCRED?
Life Insurance Company SiCRED sh.a., was founded on 7 October 2003, being the first and the only
private life insurance company in Albania with 100% of domestic capital licensed to operate in the life
insurance sector. In order to diversify the activity, to better deal with the ever - growing competition,
to offer a wider range of benefits for the clients and to gain more market share, SiCRED sh.a. has
founded two other companies, which now operate as a group:
1. Pension Fund Management Company SiCRED sh.a.,created on 21 November 2011, which manages
the voluntary pension fund “SiCRED Pensions”;
2. SiCRED Assistance sh.p.k., created on June 2012, which offers consultancy services in accordance
with the provisions of the law in force on health and safety at work.
SiCRED GROUP ACTIVITY
SiCRED sh.a., Life Insurance Company
SiCRED sh.a., Life Insurance Company, is licensed to operate only in the life insurance sector.
Currently, there are three life insurance companies operating in Albania, one of which is 100% owned
by the Albanian state. SiCRED sh.a. offers life insurance products at high level of guaranty, quality and
professionalism. Our products have a clear focus on life and health insurance (Private Health) and
Life Insurance with Savings (long-term savings).
Our Values
In SiCRED, we strongly believe that the bases for our success lies in the respect and care towards the
others. We are focused on creating a working and business environment, oriented by these values:
• Liability
• Dedication
• Loyalty
• Professionalism
• Honesty
• Efficiency
Our Vision:
Our Client is our Focus. Our vision for the future is to become the principal support and the unquestionable
choice for our client.
Our Mission
We aim to operate in conformity at the highest standards of ethics, as the only and acceptable way
to build a good reputation, reinforced by our engagement to conduct accountability, and to strive
to the best of our clients’ needs. With our products we aim to nurture a new insurance climate in the
Albanian Society. Our clients and business partners should be thoroughly pleased with their choice
and the trust bestowed upon us choosing SiCRED sh.a. for their insurance.
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Our Employees
Our high qualified employees are the most important element in our success. The company staff
consists of individuals with a long successful career in insurance market educated and trained in
prestigious educational institutions in Albania and abroad. Their teamwork spirit, the energy and
the relatively young age, along with the investment of SiCRED sh.a. in Human Resources, are key to
the so far achievements and provide a solid base for the future. The skills and the dedication of such
high-quality team add value to our products and services, and gained the Company a good position
in the market.
Pension Fund Management Company SiCRED sh.a.
The Company was licensed by the Albanian Financial Supervisory Authority (AFSA) to exercise the
activity for the pool and investment of funds deriving from voluntary pension schemes, as well as
processing of pension payments. At present, the company manages the voluntary pension fund
“SiCRED Pensions”.
Compering to the competitive companies, which are primarily focused on the accumulation phase,
neglecting the phase of pension distribution, SiCRED Pensions performs a comprehensive asset
management according to the investment over the whole life cycle. This is closely related to the
mission of the company which has as objective the preservation of living standard during retirement
phase. Since this objective lies in time in the retirement phase, it is extremely necessary to have
an appropriate coordination of the accumulation phase and the way these accumulated assets are
managed in the pensions distribution phase.
Mission
Our mission is the preservation of the living standard during the retirement phase. We believe that
this mission is closely related to what people are really expecting from their pension. People do not
want to have a living standard during retirement worse than the standard they had before retirement.
We make possible for this not to be the case, by balancing the living standard before the retirement
and the living standard after retirement. Along with the fund’s assets management, we offer to our
members free financial advising, education and risk management.
Values:
Professionalism – we operate according to the best know practices on pensions fund management.
Trust – We aim to create o bond of trust with our clients, following with high rigorously the guidelines
and regulations of the supervisory authority (AFSA).
Care for the client – Our client comes first!
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SiCRED Assistance
SiCRED Assistance Ltd, Consulting Company, owned at 100% of its capital by the life insurance
company SiCRED sh.a., was established on 29 June 2012, as a demand to comply with the domestic
legal situation in the Republic of Albania, in accordance with the strategy of the dominant economic
group to meet this demand of the law.
The objective of the company activity is to provide assistance and consultancy to the employing
companies for the implementation of legislation and technical regulations to ensure the welfare of
their employees, in the course of work, and provide assistance and advice to employers to analyze,
identify and prevent risks at work, in accordance with the requirements of relevant legislation.
Mission
The mission of SiCRED Assistance is to assist employers to best meet the requirements of the work
legislation, and other requirements for safety and health at work imposed by the state authorities,
becoming so an important factor for private or public entities in order to create and maintain optimal
working conditions.
Values:
Competence. The Company has sufficient human and infrastructure capacity to meet the obligations
toward its customers on time and with accountability. The Company staff are all qualified personnel,
as lawyers, doctors, sociologists, engineers, etc.., with several years of experience, according to their
working profile. The features of each profile satisfy the requirement for a detailed analysis of any
work factor, and the way that this factor affect the employee as a human being.
Accountability. We are aware of the duties and the risks we undertake and we aim to provide a
product that meets our customer best expectation.
Reliability. We are committed to offer our services, in full compliance of the contractual terms
negotiated and accepted by both parties.
Communication. SiCRED Assistance aims to create and maintain an ongoing communication with the
client, to identify the needs and problems that arise as a result of the work and at the same time we
confirm that we are able to address their solution on time.
Credibility. SiCRED Assistance aims to become an important and reliable partner for the contracting employer.
Number of Employees
The below table, gives the number of employees for each of the group’s company, on June 30, 2014:
SiCRED sh.a.
52 employees
SiCRED Pensions
6 employees
SiCRED Assistance sh.p.k
9 employees
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CONTACTS:
Life Insurance Company SiCRED sh.a.
Address: Administrative Unit Nr.5, “Brigada VIII” Str.,
Building Nr. 3/1, Tirana
Phone: +355 4 22 37 549
email: contact@sicred.com.al
web: www.sicred.com.al
Pension Fund Management Company SiCRED sh.a.
Address: Administrative Unit Nr.5, “Brigada VIII” Str.,
Building Nr. 3/1, Tirana
Phone.: +355 4 22 37 549
Email: pensions@sicred.com.al
Web: www.sicred-pensions.com.al
SiCRED Assistance sh.p.k.
Address: Administrative Unit Nr.5, “Brigada VIII” Str.,
Building Nr. 3/1, Tirana
Phone: +355 4 22 37 549
email: contact@sicred.com.al
web: www.sicred.com.al
Get advantage from the comprehensive experience
and knowledge of SiCRED Group in:
• Life and Health Insurance
• Private Pensions
• Assistance
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