The segment Remaining markets includes the countries Albania, Bulgaria, Germany, Estonia, Croatia, Latvia, Liechtenstein, Lithuania, Macedonia, Serbia, Turkey, Ukraine, Hungary and Georgia, which was included within the scope of consolidation for the first time. Remaining markets generated 10.1% of the group premiums.


In 2007, VIG entered the Albanian market with Sigma Sh.a. In addition to Albania, the non-life insurer operates in Kosovo via a branch office. With the acquisition of Interalbanian Sh.a. at the end of 2010, the Vienna Insurance Group is further expanding its market position and positioning itself at the top in the motor vehicle insurance business. The Group holds a strong second place on the overall market in Albania.


In Bulgaria, VIG is represented with Bulstrad Vienna Insurance Group PLC (Bulstrad Non-Life), Bulstrad Life Vienna Insurance Group JSC (Bulstrad Life) and Bulgarski Imoti Non-Life Insurance Company AD. With approximately 450 employees and a market share of more than 15%, Bulstrad Non-Life is the leading Bulgarian insurance company in this class. Bulstrad Life focuses on traditional life insurance policies, as well as on casualty and health insurance products. Bulstrad Non-Life and Bulgarski Imoti successfully outsourced their claims processing to the company VIG Services Bulgaria. In 2010 more than ten new branch offices were opened nationwide, representing the highest standards in customer service.


In Germany VIG operates via two companies: the non-life insurance company InterRisk Versicherungs-AG Vienna Insurance Group and the life insurance company InterRisk Lebensversicherungs-AG Vienna Insurance Group. The InterRisk companies are pure broker insurers. InterRisk Non-Life specialises primarily in the casualty and liability insurance business as well as selected property insurance products. The business focus of InterRisk Life is on old-age provision and occupational disability insurance as well as on protection of survivors.

Estonia, Latvia, Lithuania

Compensa Life Vienna Insurance Group SE, formerly Seesam Life Insurance SE, has been part of VIG since 2008. The life insurance company was founded in the Estonian capital of Tallinn in 1993 and expanded to Latvia in 1999 and to Lithuania in 2001. Today, it is successful in all three countries with some 20 outlets and 110 employees. In 2010, the marketing of non-life insurance policies began in the Baltic market with the establishment in Lithuania of a branch office of the Polish Group company Compensa.


In Georgia, VIG has been active since 2006. The two insurance companies JSC Insurance Company GPI Holding (GPI) and International Insurance Company IRAO Ltd. (IRAO) were first included within the scope of consolidation in 2010. GPI has been successful with needs-based solutions in the non-life insurance area, including in health insurance. IRAO focuses on the sale of motor vehicle and industrial insurance and works hard at expanding its retail and corporate customer base. In order to strengthen its regional presence, three new branch offices were opened in 2010. The Group holds the first place on the Georgian insurance market.


The VIG has three companies in Croatia: Kvarner Vienna Insurance Group d.d., Helios Vienna Insurance Group d.d. and Erste osiguranje Vienna Insurance Group d.d. The life insurer Erste osiguranje celebrated its fifth anniversary in 2010. Helios as a provider of life and non-life products was the result of a merger of two Group companies, Helios and Cosmopolitan Life, towards the middle of the year. For retail and commercial customers, the company offers attractive insurance solutions through a broad distribution network.


In Liechtenstein, VIG is represented with the company Vienna-Life Lebensversicherung AG Vienna Insurance Group. Vienna-Life operates exclusively in the life insurance segment and concentrates predominantly on index-linked and unit-linked life insurance. The focus is on individual insurance solutions adapted to the needs of customers.


In Macedonia, the VIG is represented with the Winner-Vienna Insurance Group. The non-life insurance company has been a part of the Vienna Insurance Group since 2007; in 2009 its name was changed from Sigma to Winner. With the establishment of life insurer Winner-Life Vienna Insurance Group in 2010, VIG is expanding its activities in Macedonia. The plan is for products to be distributed through Sparkasse Bank Makedonija AD Skopje, part of Erste Group.


The VIG has been operating in the Serbian market since 2003. In both the life and non-life insurance area, Wiener Städtische osiguranje a.d.o. is among the leading insurance companies in the country. More than 1,000 employees in about 50 branch offices contribute to the company’s success. VIG Plaza in Belgrade, an ultramodern office building, was completed in 2010. The new headquarters of the Wiener Städtische osiguranje is located on three floors of the building, which provides a total of 16,000 m² in office space.


VIG is represented on the Turkish insurance market by Ray Sigorta A.Ş. The company was founded in 1958 and operates in the non-life insurance area, with a focus on motor vehicle insurance. About 260 employees and more than 800 agents and brokers provide the best possible insurance coverage for customers. To integrate it into the Group even more, VIG has agreed to acquire another approximately 10% of the company.


VIG operates via four insurance companies in Ukraine: PJSC Insurance Company “Ukrainian Insurance Group” (UIG), PJSC “UIC Kniazha Vienna Insurance Group”, IC Globus and PJSC “Jupiter Life Insurance Vienna Insurance Group”. The three non-life insurers UIG, Kniazha and Globus operate primarily in the motor vehicle insurance business. The Vienna Insurance Group is represented in the life insurance area by Jupiter. Six years after entering the Ukrainian market, the Vienna Insurance Group is adding the heavily populated country to its now ten core markets. By this step, the Group is endeavouring to expand its strong position as one of the leading insurance groups on the Ukrainian market.


In Hungary, VIG is represented by Union Vienna Insurance Group Biztosító Zrt. and Erste Vienna Insurance Group Biztosító Zrt. (ESB). Union’s approximately 240 employees advise and assist individuals and companies comprehensively on all insurance matters. Life insurance company ESB has been part of the Group since 2008. It sells its products through the branch network of Erste Bank Hungary Nyrt.

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