Vienna International Insurance Industry News

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

Vienna Insurance Group in Ukraine: Strong Start to 2014

Double-digit premium growth.

April 1, 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

Austria: Economic Recovery Remains Modest

Political clouds over economic recovery.

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