VIG companies in Romania

Vienna Insurance Group is represented by three insurance companies in the Romanian market. In addition to Omniasig Non-life and Asirom, BRC Life is also a member of Vienna Insurance Group.

The merger of Omniasig Non-life and BCR Non-life was successfully completed in 2012. The merged company has offered its products in the Romanian market under the Omniasig Non-life brand since then.

VIG has an overall market share of 24.5% in Romania. VIG occupies first place in both the overall market and non-life segment, and holds second place in life insurance.

Omniasig operates in the non-life segment and offers a broad portfolio of property and casualty products that is primarily focused on motor vehicle insurance. The merger with BCR Non-life that was completed in May 2012 combined the distribution power of the two companies.

In 2012, Omniasig introduced a new insurance product to the market specifically for small and medium-sized companies (SMEs) that is aimed at satisfying the requirements of service and commercial businesses. The product offers comprehensive insurance coverage ranging all the way from building, business interruption, machinery and casualty insurance to general liability insurance. Policy writing was also optimised and greatly simplified for the customer, and policies can be easily viewed using an online service portal.

Asirom has been a member of Vienna Insurance Group since 2007 and operates in the life and non-life segments of the Romanian insurance market. It has an outstanding regional distribution network of 150 branch offices. Its market share of approximately 7.3% makes Asirom one of the top five companies in the market.

In addition to introducing many new products in 2012, Asirom also modified its motor vehicle own-damage insurance to meet changes in market conditions and, therefore, customer needs. Basic coverage was expanded to include expense reimbursement for towing and breakdown service, and a replacement vehicle.

Asirom received an award for the best insurance company in the non-life segment in 2012. Granted by the insurance magazine "PRIMM – Insurance & Pensions Magazine", the award is confirmation of the company's commitment, and strengthens Asirom's image for the long term.

BCR Life has been a member of VIG since the purchase of all of the insurance activities of Erste Group in 2008. The company offers innovative life insurance products for private persons and group insurance on the Romanian market.

Its outstanding position in the market was once again confirmed by the "Piata Financiara Gala Awards" in Bucharest, where the company received an award for "Insurer of the Year 2012" in the area of life insurance. This was the fourth time in a row that BCR Life was able to excel over its competitors. The jury decision stressed the company's dynamic business development and its high-quality range of products carefully designed to meet market requirements.