Joint development of new legal protection markets with the ARAG Group
In January 2009, the Vienna Insurance Group and ARAG Allgemeine Rechtsschutz-Versicherungs-AG (ARAG) signed a letter of intent relating to cooperation in the legal protection business. The goal is to develop a joint business model for the Austrian market and for those countries in the CEE region where the Vienna Insurance Group is represented.
Entry into the private health insurance market in the CEE region
The Vienna Insurance Group is planning its entry into the private health insurance segment in the CEE region. Initial steps are planned for the Czech Republic, Slovakia, Poland, Romania and Hungary.
VIG RE enters market successfully
Our reinsurance company VIG RE very nearly reached its premium targets for 2011 as early as 2009. Agreements worth around EUR 280 million were signed and the internationally recognised rating agency Standard & Poor’s (S&P) awarded VIG RE an outstanding rating of A+ with an outlook of Stable.
Sale of majority in Ringturm KAG
The Vienna Insurance Group sold the Erste Group a 95% interest in its investment fund company Ringturm KAG at the beginning of 2009.
Sale of private hospital interests
The Vienna Insurance Group will sell its 25% ownership interest in a number of domestic private hospitals in order to concentrate more strongly on its core business in the future.