- Dramatic expansion of premium volume by 93.5%.
- Profit before taxes rose by 262.3%.
- Turkey and Ukraine included within the scope of consolidation.
The segment Other CEE markets includes Bulgaria, Croatia, Serbia, Turkey, Ukraine and Hungary. Companies in the CEE countries – Albania, Belarus, Estonia, Georgia, Latvia, Lithuania, Macedonia and Russia – have not yet been added to the scope of consolidation of the Vienna Insurance Group.
Bulgaria
The Vienna Insurance Group is represented on the Bulgarian insurance market by Bulstrad Insurance & Reinsurance JSC, Bulstrad Life Insurance JSC, Bulgarski Imoti Non-Life Insurance Company and Bulgarski Imoti Life Insurance Company. With almost 500 employees and 89 offices, Bulstrad Non-Life is the second largest non-life insurance company in Bulgaria. Bulstrad Life focusses on traditional life insurance as well as on casualty and health insurance products. The Bulgarski Imoti companies successfully market both non-life and life insurance products.
Croatia
The companies of the Vienna Insurance Group in Croatia are Kvarner VIENNA INSURANCE GROUP d.d., Cosmopolitan Life VIENNA INSURANCE GROUP d.d. za osiguranje and Osiguranje Helios d.d.
Kvarner, the largest Croatian company of the Vienna Insurance Group, is a composite insurer with a strong sales force in the field. Cosmopolitan Life has been operating successfully in the Croatian life insurance market since 1989. The composite insurer Helios belongs to the Vienna Insurance Group through TBIH.
Serbia
Since 2003 the Vienna Insurance Group has been re presented in the Serbian market by Wiener Städtische osiguranje a.d.o. Belgrade. The company, which was founded five years ago now, already has more than 700 employees in 35 business offices. The field sales force is responsible for more than 70% of sales.
Turkey
With TBIH’s acquisition of a 74.26% ownership interest in Ray Sigorta A.Ş the Vienna Insurance Group is now active on the Turkish insurance market as well. Ray Sigorta A.Ş founded in 1958 and with more than 130 employees in 8 offices, operates in the non-life insurance area, focussing on motor vehicle insurance. Almost 500 agents and more than 30 brokers successfully work in cooperation with Ray Sigorta.
Ukraine
The Vienna Insurance Group operates in Ukraine with four companies. They are CJS UIC Kniazha, STDV Globus and CJSC Life Insurance Jupiter VIENNA INSURANCE GROUP. CJSC Ukrainska Strakhova Grupa (USG) also recently joined the Vienna Insurance Group.
As successful non-life insurance companies, Kniazha and Globus, founded in 1997 and 1994 respectively, focus on motor vehicle insurance in the Ukrainian market. USG, which ranks among the top 10 motor vehicle insurance providers in Ukraine, further enhances Vienna Insurance Group’s position in motor vehicle insurance. As a life insurer, Jupiter is profiting above all from the growth in demand for life insurance on the Ukrainian market.
Hungary
The Vienna Insurance Group is represented in Hungary by the composite insurance company Union VIENNA INSURANCE GROUP Biztosító. With 235 employees in 22 offices, the company offers comprehensive insurance solutions for both individual and corporate customers.
