Insurance market leader grows by an annual 34% in first nine months

The largest increase, of 46 percent, was registered by Omniasig’s business, controlled by the Austrian group, which amounted to €263 million. Asirom Vienna Insurance Group registered subscribed premiums worth some €157.74 mln in this year’s first nine months, up 21 percent year-on-year.

“Romania is an important market for the Vienna Insurance Group. As VIG is a retail insurance company, it is not affected by the unfavorable economic context, and the growth pace of our companies in Romania was maintained at the same level in the third quarter,” said Guenter Geyer, VIG’s Chief Executive Officer.

VIG’s car insurance on the Romanian market is important for the group, considering three quarters of VIG’s premiums come from such insurance, according to a company report.

VIG is operating on the Romanian market through the Omniasig, Omniasig Asigurari de Viata (life insurance), and Asirom companies. Following an agreement with Erste Bank, VIG took over the bank’s insurance business, including that on the Romanian market, namely BCR Asigurari de Viata and BCR Asigurari.