Other CEE Markets

The Other CEE markets segment includes Bulgaria, Croatia, Serbia, Turkey, Ukraine and Hungary.

Bulgaria

The Vienna Insurance Group is represented in Bulgaria by Bulstrad Insurance JSC, Bulstrad Life Insurance JSC, Bulgarski Imoti Non-Life Insurance Company, and Bulgarski Imoti Life Insurance Company. Bulstrad non-life, with its approximately 500 employees and 92 offices, is the leading insurance company in Bulgaria. Bulstrad life focuses on traditional life insurance, as well as casualty and health insurance products. The Bulgarski Imoti companies successfully distribute both life and non-life insurance products.

Croatia

The Vienna Insurance Group companies in Croatia are Kvarner Vienna Insurance Group d.d., Cosmopolitan Life Vienna Insurance Group d.d. za osiguranje and Helios Vienna Insurance Group d.d. In 2008, the company Erste osiguranje Vienna Insurance Group d.d.¹ (ESO) also joined the Group. Kvarner and Helios are composite insurers. Cosmopolitan Life has been successfully operating on the Croatian life insurance market since 1989. ESO, established in June 2005, is also a life insurance company. It primarily distributes its products through its main cooperation partner Erste & Steiermärkische Bank d.d.

Serbia

Wiener Städtische osiguranje a.d.o. Beograd has represented the Vienna Insurance Group as composite insurer in Serbia since 2003, and is the leading life insurance company in Serbia. The company has a strong, employed field sales force, with more than 900 employees in 13 branches and 29 sales offices contributing to the company’s success. Wiener Städtische osiguranje concluded a long-term distribution agreement with Erste Bank a.d. Novi Sad in 2008.

Turkey

The Vienna Insurance Group is represented on the Turkish insurance market by Ray Sigorta A.Ş. The company was established in 1958, has around 250 employees in eight offices, and operates in the non-life segment with a focus on motor vehicle insurance. Ray Sigorta works in cooperation with more than 500 agents and 38 brokers.

Ukraine

The Vienna Insurance Group operates through four insurance companies in Ukraine: CJS UIC Kniazha, IC Globus Insurance Company, CJSC Life Insurance Jupiter Vienna Insurance Group and CJSC Insurance Company (UIG). Kniazha, established in 1997, is a non-life insurer operating successfully in the segment of motor vehicle insurance, and is number 2 in the Ukrainian market for motor vehicle liability insurance. Globus and UIG help to strengthen the Vienna Insurance Group’s position in the motor vehicle insurance market. Jupiter represents the Vienna Insurance Group in the life insurance business. Distribution alternatives were expanded by means of a cooperative arrangement concluded in 2008 with the Erste Group’s Ukrainian subsidiary in order to take advantage of additional potential in the Ukrainian insurance market.

Hungary

The Vienna Insurance Group is represented in Hungary by the composite insurer Union Vienna Insurance Group Biztosító and the life insurance company Erste Vienna Insurance Group Biztosító Zrt.¹ (ESB), newly acquired in 2008. Union has close to 300 employees in more than 20 offices, and offers a full range of insurance solutions for both retail and corporate customers. ESB sells its products through the branch network of Erste Bank Hungary Nyrt.

¹ New company name subject to approval by the appropriate executive bodies of the Company and registration of the amendment to the articles of association by the local authorities.