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Read the latest headlines about developments in the international insurance industry in Vienna and Austria
Vienna International Insurance Industry News
Reinsurer VIG Re to Expand to Paris
After opening an office in Frankfurt a year ago, another West European representative office is now to follow in Paris. The new branch will be headed by Patrick Chevrel. As part of the Vienna Insurance Group, VIG Re has been founded in 2008 by being established as a core player in the reinsurance market in Austria and CEE, and now also in certain West European countries.
November 26, 2018
UNIQA: Yearly Financial Report 2017
UNIQA Insurance Group AG is declaring the following financial reports below.
April 12, 2018
VIC Strengthens Presence in Hungary and Slovakia
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.
April 3, 2018
Expat Advise: How Does the Austrian Tax and Social Security System Work?
If you are moving to Vienna as an expat or are already living here with employment income and want to find your way around the complicated Austrian tax and social security system, Vindobona recommends attending an interesting event organised by the Vienna Business Agency and Deloitte Austria.
March 22, 2018
Uniqa Insurance Group AG: Preliminary Figures 2017
At EUR242.2 million, EBT in 2017 - according to preliminary figures - is up 7.4 per cent on last year's results of EUR225.5 million. Premiums written (including savings portion) increased by 4.9 per cent to EUR5,293.3 million. In addition, the Group cost ratio improved from 26.6 per cent to 25 per cent and the combined ratio from 120 per cent to 97.5 per cent - despite claims paid of approximately EUR120 million for weather damage.
February 28, 2018
Vienna Insurance Group Buys AXA Subsidiaries in Serbia
Vienna Insurance Group (VIG) is acquiring AXA’s life and non-life companies in Serbia. The purchase will increase VIG’s market share in Serbia to around 11.5 percent.
July 7, 2016
Central and Eastern European Forum in Vienna next Week
The Central and Eastern European Forum - organized by Euromoney - is taking place in Vienna next week. 1,000 top level policymakers, issuers, and commentators from the region will join local and international investors to help plan, debate and analyze the economic agenda for the region for the year ahead.
January 13, 2016
VIG: Elisabeth Stadler to Replace Peter Hagen as CEO
Due to differences in opinion regarding the future strategic orientation and steering of the Group, Peter Hagen will be leaving his position as Chairman of the Managing Board of the Vienna Insurance Group on 31 December 2015. Elisabeth Stadler will become his successor.
December 2, 2015
VIG Completes Acquisition of Latvian Non-Life Insurer Baltikums AAS
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.
October 27, 2015
VIG's Compensa Acquires Lithuania’s Largest Life Insurance Sales Company
Vienna Insurance Group company Compensa Life SE has strengthened strengthened its sales structure in Lithuania with the acquisition of life insurance sales specialist Finsaltas. Finsaltas holds Latvia's biggest life insurance distribution network and recorded some EUR 7.1 million (USD 8.0 million) in life insurance premiums in 2014. for an undisclosed amount, VIG said Friday.
June 12, 2015
Vienna Insurance Group Places EUR 400 Million Bond Issue
Vienna Insurance Group AG Wiener Versicherung Gruppe placed a subordinated bond with a volume of EUR 400 million with institutional investors.
February 18, 2015
Uniqa Expands Industrial Business in CEE
Uniqa has developed additional insurance related services which target multinational corporations with subsidiaries in Central and Eastern Europe (CEE).
November 18, 2014
Cost of Living Rankings: CEE Capitals Cheaper, Vienna is 32nd Most Expensive City
The Mercer's 2014 Cost of Living Rankings have been published and cover 211 cities across five continents. While Western European cities have all risen in the rankings mainly due to the strengthening of the Euro against the US dollar, most cities in Central and Eastern Europe (CEE), however have fallen in the ranking as a result of local currencies depreciating against the US dollar. Bratislava (#84), Prague (#92), Kiev (#98), Ljubljana (#116), Zagreb (#120), Budapest (#135), Warsaw (#142), Belgrade (#184).
July 25, 2014
VIG Subsidiary Donau Insurance to Appoint New CEO
Elisabeth Stadler will resign her position as Chairwoman of the Management Board of Ergo Austria and take over the position of CEO of listed insurance group VIG's subsidiary Donau Versicherung AG.
July 24, 2014
Uniqa and VIG to Challenge Draft Hypo Law
Both companies said that they would take steps to protect their rights.
June 12, 2014
VIG Considers to Delist from Warsaw Stock Exchange
Listed insurer VIG is considering delisting from the Warsaw Stock Exchange, should it decide to merge with the Vienna bourse, CEO Peter Hagen told news agency Reuters in an interview.
June 12, 2014
Vienna Insurance Group - The Four Newly Elected Members of the Supervisory Board
Since the appointments of all ten members of the Supervisory Board expired, the Annual General Meeting elected a new Vienna Insurance Group Supervisory Board. Maria Kubitschek, Rudolf Ertl, Georg Riedl and Günter Geyer were elected to the Supervisory Board for the first time.
June 9, 2014
VIG Takes Over 100% of Life Insurer Skandia Poland
The Vienna Insurance Group AG (Wiener Versicherung Gruppe) has acquired 100 percent of shares in the life insurance company Skandia Zycie TU S.A. (Skandia Poland).
May 31, 2014
Helvetia Takes Over Basler in Austria for EUR 130 Million
Helvetia takes over Basler Versicherungen in Austria for EUR 130 million, thereby becoming one of the Top 10 Austrian insurance companies.
May 16, 2014
Raids at Romanian Affiliate of VIG
A number of business locations of Omniasig, the Romanian affiliate of Austrian insurer VIG, were searched by the police. Several employees are accused of forgergy and abuse of authority.
May 14, 2014
Croatia: Adris Grupa to Bid for Insurer Croatia Osiguranje
The Croatian financial regulator HANFA has approved Adris Grupa, the largest tobacco company on the Balkans, placing its bid to take over insurance company Croatia Osiguranje.
May 12, 2014
Austria Gives up Bank Secret for United States
Austria and the US have signed an agreement for the exchange of fiscal data. However, the agreement could be renewed soon.
April 30, 2014
Real Estate: Buwog Shares Taking Off
The highly anticipated primary listing of residential real estate affiliate of listed Immofinanz, Buwog, will be completed on Monday.
April 28, 2014
Struggling Insurance Industry
Despite favorable results last year the European insurance market has to face a number of adverse factors.
April 23, 2014
Business in Ukraine Becomes More Riskful
Insurance companies warn export companies that wanting to arrange for insurance of defaults in payment obligations or political unrest right now is coming too late.
April 22, 2014
Polish Insurer PZU Gains More Power in Baltic States
As announced by the Polish insurance company, PZU took over three Baltic competitors.
April 17, 2014
RBI: Economic Recovery Despite Geopolitical Tensions
Economic upswing vs. geopolitics.
April 4, 2014
Poland: PZU to Take over RSA’s Baltic Branch?
Polish insurance company PZU intends to take over the Baltic assets of British ailing insurer RSA.
April 1, 2014
Poland: PZU to Takeover Healthcare Companies
Polish insurance group PZU is considering the acquisition of two healthcare enterprises.
March 18, 2014
Poland: PZU Below Profit Expectations
Polish insurer PZU missed the profit expectations in the last quarter in 2013.
March 13, 2014
Banks Striving to Leave Ukraine
While Austrian insurance companies intend to stay on the Ukrainian market banks are facing write-offs running in the billions.
March 5, 2014
UNIQA Insurance Group New in the ATX
The ATX Committee decided to include the two companies, UNIQA Insurance Group and Flughafen Wien to the ATX today.
March 5, 2014
Czech Republic: Raiffeisen Withdraws from Pension Insurance Business
Pension insurance company Raiffeisen penzijni spolecnost will terminate business activities on the Czech market for private pension schemes, as announced by the company in a press release.
March 4, 2014
Poland: PKO BP Takes over Nordea’s Insurance Division
Polish financial market regulator KNF has finally approved the takeover of life insurance company Nordea TUnZ by PKO BP.
February 27, 2014
VIG Third Biggest Insurance Company in Poland
Vienna Insurance Group records strong performance in Poland.
February 27, 2014
VIG Generates Profits in Poland
Vienna Insurance Group Polska (VIG) generated a gross profit of PLN 229m last year.
February 25, 2014
Polish Insurer PZU Closes Offices in Ukraine
Because of the ongoing riots in the Ukrainian capital Kiev, state-controlled insurance company PZU decided to shut down two offices.
February 20, 2014
Austrians Prefer Real Estates as Safe Investment Form
Around two third of Austrian investors prefer safe form of investment like real estates and properties.
February 14, 2014
Austria: Economic Growth Accelerates
In the fourth quarter in 2013 GDP increased by 0.3 percent compared to the previous quarter and by 0.9 percent year-on-year.
February 14, 2014
Poland: Sharp Decline in Insurance Prices
Insurance policy prices dropped almost 30 percent last year.
February 11, 2014
Vienna Insurance Group Shines in the Czech Republic
VIG continues to expand its market leadership in its largest CEE market.
February 11, 2014
Vienna Insurance Group Enters New Market
Acquisition of the Moldovan insurer Donaris.
January 31, 2014
Uniqa Kosovo Grows Twice as Quickly as Market
Premium volume up 22.9 per cent in the first nine months of 2013. Non-life grows twice as quickly as the market
January 30, 2014
VIG to Do Up Romanian Division
Difficulties in Romania and Italy for Vienna Insurance Group (VIG) lead to a massive decline in profits.
January 29, 2014
Uniqa Montenegro Increases Market Share
Market share expands to 14.6 per cent. Non-life premium volume increases to 6.7 million euros.
January 28, 2014
London Roadshow with Austrian Companies
Austrian Companies with Erste Group and the Vienna Stock Exchange on Road Show to London
January 27, 2014
CEE: Insolvencies Declining But Larger Effect
The number of insolvencies in Central and Eastern Europe (CEE) is declining. However, the individual insolvencies are becoming larger, as reported by French credit insurer Coface.
January 23, 2014
Insurance Industry Faces Growing Risks
According to the U.S. rating agency Fitch, insurers in Europe have to accept riskier investments. Ratings may deteriorate, Fitch warned.
January 22, 2014
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