Acquisition of the Moldovan insurer Donaris completed
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.