09-04-2013

Acquisition of QBE Makedonija completed. Vienna Insurance Group new market leader in Macedonia (English)

Vienna Insurance Group AG Wiener Versicherung Gruppe (VIG) has concluded the acquisition of a majority stake in QBE Makedonija. VIG has acquired 92.9 percent of the voting rights in the Macedonian company. The remaining shares are in free float. As a result of the transaction the Vienna Insurance Group is now Macedonia’s leading insurer, with a market share of over 20 percent.

Leading insurer with a strong sales network

QBE Makedonija has a broad product portfolio, with a specific focus on motor insurance and casualty insurance, and a strong nationwide sales network. QBE currently employs over 200 people at its 19 branches. In 2012 the company recorded premium income of around EUR 11.2 million.

Vienna Insurance Group in Macedonia

The Vienna Insurance Group has had a presence on the Macedonian market since 2007 through its Winner and Winner Life subsidiaries. The Group posted a premium volume of some EUR 10.2 million in Macedonia last year.

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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 almost 190 years of experience in the insurance business. With about 24,000 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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