VIG Raises Equity Base in Croatia

Central- & Eastern EuropeWestern Balkans ♦ Published: November 16, 2011; 15:16 ♦ (Vindobona)

The local authority claimed for a capital increase for the Croatian subsidiary of Vienna Insurance Group. Now, € 15m were transferred.

VIG Raises Equity Base in Croatia / Picture: ©

The Vienna Insurance Group raised the equity base for its Croatian subsidiary Kvarner VIG by € 15m. The Croatian financial market authority Hanfa claimed for a higher capital base, because Kvarner VIG did not have sufficient equity funds by the end of September. In the life insurance segment, equity capital showed a deficit of 69m Kuna.

Besides this, VIG´s subsidiary had a…