CEE market leader in the life insurance segment
Following the attainment by the Vienna Insurance Group of market leadership in the Czech Republic, the Group has achieved a further milestone in the pursuit of its strategy: in its position of market leader in its core markets in CEE*, the Vienna Insurance Group is now also number 1 in the life insurance segment in this region. With a market share of 10.6 percent, the Vienna Insurance Group is clearly ahead of its international competitors in this segment. In 2009, the Vienna Insurance Group achieved almost 40 percent of the Group’s premiums in the CEE region in the life insurance segment.
* CEE-core-markets define as follows: Bulgaria, Croatia, Poland, Romania, Serbia, Slovakia, Czech Republik, Hungary
“The attainment of market leadership in the life insurance segment is a considerable achievement for our CEE strategy and means we have reached another of our goals”, comments Günter Geyer, CEO of the Vienna Insurance Group, about this pleasing news, before adding, “We are thus continuing our good development even in difficult economic conditions. In terms of sales, we have been focusing strongly on bancassurance and are now benefiting from this forward-looking decision.”
This success has been achieved by virtue of the good performance in the Group’s core markets despite the difficult current economic situation. In life insurance the Vienna Insurance Group is the market leader in the Czech Republic, Croatia and Slovakia. The Group is also the market leader in this segment in Austria.
Overall, as number 1 in the region, the Vienna Insurance Group has a market share in CEE of 14.6 percent. With a market share of 18.2 percent, the Group is also the market leader in the non-life segment.
The listed Vienna Insurance Group (VIG) is one of the leading insurance groups in CEE headquartered in Vienna. Outside of its home base in Austria, Vienna Insurance Group is also active, through subsidiaries and insurance holdings, in Albania, Bulgaria, Germany, Estonia, Georgia, Croatia, Latvia, Liechtenstein, Lithuania, Macedonia, Poland, Romania, Russia, Serbia, Slovakia, the Czech Republic, Turkey, Hungary, Ukraine and Belarus. It also has branches in Italy and Slovenia.
On the Austrian market, the Vienna Insurance Group (VIG) positions itself with Wiener Städtische Versicherung, Donau Versicherung and Sparkassen Versicherung.