Vienna Insurance Group in Romania: BCR Life named Insurance Company of the Year 2011
BCR Asigurari de Viata (BCR Life) took the title of Romania’s “Insurance Company of the Year 2011” at the recent “Piata Financiara Gala Awards” in Bucharest. BCR Life also secured first place in the life insurance category for the third year in succession. The jury singled out BCR’s coherent growth strategy, financial stability and rising premium volumes for special mention. Romanian business magazine Piata Financiara has been recognising the country’s top financial service providers for 16 years, and the awards are a key industry benchmark.
“This accolade for BCR Life is a clear indication of the increasing importance of life insurance in CEE, and testimony to the success of our regional strategy,” explained Günter Geyer, CEO of Vienna Insurance Group.
Market leader in RomaniaThe Vienna Insurance Group is Romania’s leading insurer, with a market share of around 30 percent in the first half of 2011. It is number one in the Romanian non-life segment, and the country’s second-largest life insurance group.
Vienna Insurance Group is represented on the Romanian market by non-life insurers OMNIASIG and ASIROM. In addition, with its Group companies BCR Non-Life and BCR Life, Vienna Insurance Group is intensely reaping the benefits of its sales agreement with Erste Group. In the first nine months of the current financial year, Vienna Insurance Group recorded premium income in Romania of about EUR 399 million.