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Vienna International Insurance Industry News
Read the latest headlines about developments in the international insurance industry in Vienna and Austria
Uncovering of Money Laundering and Real Estate Fraud in Austria and Cyprus
New leaks have uncovered a complex network of opaque asset transfers centered around Russian oligarchs and Austrian real estate. According to the investigative project "Cyprus Confidential", Austrian real estate is particularly popular with wealthy Russians. Around 40 Cypriot companies own real estate in Vienna, often penthouses in expensive locations.
November 16, 2023
Austria Wants to Be One of the Most Sustainable Destinations in the World
The extent to which the issue of climate change now affects all areas of our lives was also evident at this year's Expo Real in Munich.
Birgit Adelsberger · October 8, 2023
Austria's Consumer Protection Ministry Mandates Action Against Banks for Low Interest Rates
According to the Consumer Protection Ministry, the practice of Austrian banks of charging high-interest rates on overdrafts while granting no interest at all on credit balances is meeting with growing resentment among consumers.
August 16, 2023
Austrian Raiffeisen Bank International Gets Under Pressure Due to Russo-Ukrainian War
Its involvement in Russia keeps Raiffeisen Bank International (RBI) and its managers, led by Johann Strobl, very busy. The subsidiary institution in Moscow is RBI's biggest profit earner and almost the entire RBI board is on the Ukrainians' "awaiting sanctions" list. Whether RBI will stay in Russia and how to proceed is still unclear, as the banking group is in a tricky situation.
January 9, 2023
Continued Strong Interdependence of Business between Russian, Ukrainian and Austrian Companies
Austrian businesses have established significant ties with those in Ukraine and Russia over the years. Read about the amount of business Austria does with each country and how the recent escalation of tensions could affect this.
February 23, 2022
Peace in Hard Times: Global Peace Photo Awards Ceremony
After canceling the event last year due to the COVID-19 pandemic, the Global Peace Photo Awards Ceremony 2020 was recently held in Baden. The Global Peace Photo Awards Ceremony 2021 will be held later this year. These awards honor the images that best capture the theme of peace each year. Read about the ceremony and who won the awards for 2020.
July 30, 2021
City of Vienna Offers Moderna Vaccine Without Registration
The City of Vienna is offering the Moderna vaccine without prior registration at the Austria Center Vienna (ACV) to help combat the COVID-19 pandemic. This marks the fourth vaccination campaign offered by the City of Vienna.
July 26, 2021
Arab Ambassadors in Vienna and Economic Relations between their Countries and Austria
The Ambassadors from Egypt, Iraq, Jordan, Morocco, Oman, Palestine, Qatar, Tunisia, and the UAE to Austria provided an economic overview of their countries and their relationship with Austria in an online forum with the Austro-Arab Chamber of Commerce (AACC).
July 11, 2021
Handy-Signatur in Austria: What It Is and How to Get It
The Handy-Signatur is an important tool to have in Austria. It is useful for accessing many online portals, including health insurance and the new Green Pass for proof of COVID-19 vaccination. Learn more about it.
July 8, 2021
Increase of Budget for Investment Subsidies to EUR 2 Billion
The Austrian Government has announced a budget increase for investment subsidies. A high demand and investment volume in the first three weeks of the application period has lead to this decision that is welcomed by the Federal Chamber of Commerce.
September 23, 2020
Foreign Trade Has Partially Recovered from Crisis
According to the latest report from Statistics Austria, imports and exports are only slightly behind last year's number indicating an upwards trend after Covid-19 has impacted foreign trade significantly.
September 8, 2020
WKO Secretary General: Labor Market Situation Improves, But Remains Great Challenge
The secretary general of Austria's Federal Chamber of Commerce WKO recognizes a slightly positive trend in the labor market but underlines the importance of ongoing and future economic measures.
September 7, 2020
Economic Sentiment in Austria and the EU Brightened Further in August
Businesses and the population of the EU still have below-average economic sentiment although the expectations improved over the last month. The sharp decline due to Covid-19 is made up by about 60 % already.
August 31, 2020
Vienna Based UNIDO Holds Expert Panel to Discuss Developments in Industry and Society
The United Nations Industrial Development Organization hosted an expert panel about the future of industry and society. Main topics were the advancement of attaining the sustainable development goals and shaping society as a whole.
August 21, 2020
New Chief Financial Officer at Allianz Group Austria
German-born Anne Thiel (49) is to take over as CFO of Allianz Group Austria on September 1, 2020. She succeeds Eva Meyer-Schipflinger, who will take over a global management position at Allianz SE in Munich.
May 30, 2020
COVID-19 Drug Made in Austria
Austrian biotech company Apeiron Biologics AG, which is currently working on a drug to treat the coronavirus, announces financing round for the further development of the COVID-19 drug APN01.
May 19, 2020
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
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