VIG Completes Acquisition of Latvian Non-Life Insurer Baltikums AAS

BusinessDeals ♦ Published: October 27, 2015; 19:00 ♦ (Vindobona)

Vienna Insurance Group (VIG) has finalized the 100-percent acquisition of Riga-based Baltikums AAS. As a result of the acquisition, Vienna Insurance Group is now one of the top five insurers on the Latvian market.

VIG among the top five in Latvia / Picture: ©

In July this year Vienna Insurance Group AG (Wiener Versicherung Gruppe) signed an agreement to acquire 100 percent of shares in Riga-based Baltikums AAS.

The transaction has now been concluded after the relevant authorities gave their approval.

Focus on expansion in the Baltics Vienna Insurance Group has enjoyed particular success in the Baltic States in the…