03-04-2014

Acquisition of the Moldovan insurer Donaris completed (English)

The Vienna Insurance Group AG Wiener Versicherung Gruppe has acquired approximately 94 percent of shares in the insurance company Societatea de Asigurări-Reasigurări “Donaris Group” S.A. (Donaris), which has its head office in the Republic of Moldova. After granting of the regulatory approvals, the transaction has been concluded.

Donaris was founded in 1998 and has its head office in the Moldovan capital Chisinau. The non-life insurer recorded premiums of approx. MDL 100 million (approx. EUR 5.4 million) in 2013, an increase of approx. 8 percent compared to the previous year. Around 80 percent of the premiums are attributable to motor insurance. Donaris had a market share of 8.4 percent in 2012, which makes it the fourth largest non-life insurer in Moldova. The company currently employs approximately 50 members of staff in its head office and approximately 70 people in branch offices. Insurance products are sold through its own branch offices as well as via agents and partnerships with brokers, banks and leasing companies.

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Vienna Insurance Group (VIG) is the leading insurance specialist in Austria as well as in Central and Eastern Europe. About 50 companies in 24 countries form a Group with a long-standing tradition, strong brands and close customer relations. VIG looks back on 190 years of experience in the insurance business. With about 23,000 employees, Vienna Insurance Group is the clear market leader in its core markets. It is therefore excellently positioned to take advantage of the long-term growth opportunities in a region with 180 million people. The listed Vienna Insurance Group is the best-rated company of ATX, the leading index of Vienna Stock Exchange; its share is also listed on the Prague Stock Exchange.

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