The Vienna Insurance Group operates in the CEE region, which offers the insurance industry significant opportunities for growth. The business potential realised by the Vienna Insurance Group’s expansion in the CEE countries is primarily based on two factors:
- Insurance density* (per capita premiums) in CEE is considerably below the Western European level, and
- insurance markets exhibit above-average growth rates.
In addition, rapid economic growth and continued integration of the CEE countries into the European Union has significantly increased the prosperity of the population in recent years. The demand for financial services to insure newly created assets and safeguard the standard of living has been growing at an above-average rate. The insurance market of the dynamically growing economy of the the CEE region therefore exhibits high growth potential. These are the factors that make Central and Eastern Europe so attractive for the Vienna Insurance Group.
*Insurance density (Swiss Re) - Definition CEE: Bulgaria, Croatia, Czech Republik, Hungary, Poland, Romania, Serbia, Slovakia, Slovenia, Ukraine. Insurance density (Swiss Re) - Definition EU-15: Austria, Belgium, Denmark, Finland, France, Germany, Great Britain, Greece, Ireland, Italy, Luxembourg, Netherlands, Portugal, Spain, Sweden.
