VIC Strengthens Presence in Hungary and Slovakia

PeopleExecutives ♦ Published: April 3, 2018; 14:58 ♦ (Vindobona)

Hungary’s central bank approved the merger of the three VIG Group companies. As a result VIG will be represented in Hungary solely by the insurance company Union Biztosító. In Slovakia, bancassurer Poisťovňa Slovenskej sporiteľne (PSLSP) will merge with Kooperativa poisťovňa.

Stadler: "“Merging local composite insurers with life insurance companies specialising in bancassurance is intended to boost sales of non-life policies via banks." / Picture: © Vienna Insurance Group/Ian Ehm

Optimising the business model and opening up new business opportunities are key objectives of VIG’s Agenda 2020 strategic work programme.

“Merging local composite insurers with life insurance companies specialising in bancassurance is intended to boost sales of non-life policies via banks. More direct communication, simplified processes, clearly understandable products and…