VIG Leaves Russia

Professional ServicesInsurance ♦ Published: March 31, 2011; 00:23 ♦ (Vindobona)

The Austrian Vienna Insurance Group accepts the offer to sell its Russian insurance participations.

VIG Leaves Russia / Picture: © Vienna Insurance Group / Votava

Vienna Insurance Group entered the Russian insurance market in 2005 by acquiring a minority share (about 25 percent) of the life insurer MSK-Life, which it had then founded together with the Bank of Moscow. Furthermore, the Group holds minority interests in SG MSK (about 5 percent) as well as in SoVita (about 15 percent).

Vienna Insurance Group has now received an offer from its…