Loading ...Vienna Insurance Group (VIG), the largest player on the Romanian insurance market, posted a 34% annual increase in subscribed gross premiums on the local market in this year’s first 9 months.
VIG Group is present on the market in Romania through Omniasig, Omniasig Life Insurance and Asirom and the largest increase, of 46%, was registered by Omniasig’s business, which amounted to 263 million euros. As well, Asirom Vienna Insurance Group registered subscribed premiums worth some 157.74 mln euros in this year’s first nine months, up 21% year-on-year.
“Romania is an important market for the Vienna Insurance Group. As VIG is a retail insurance company, it is not affected by the unfavourable economic context, and the growth pace of our companies in Romania was maintained at the same level in the third quarter,” said Guenter Geyer, VIG’s Chief Executive Officer, quoted by Business Standard daily.
VIG’s car insurance (RCA and Casco) on the Romanian market is important for the group, considering three quarters of VIG’s premiums come from such insurance, according to a company report.
Following an agreement with Erste Bank, VIG took over the bank’s insurance business, ncluding that on the Romanian market, namely BCR Asigurari de Viata and BCR Asigurari. As such, VIG is operating on the Romanian market through the Omniasig, Omniasig Asigurari de Viata (life insurance), and Asirom companies.
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