Austrian Vienna Insurance Group to enter Estonian market
"We are already on the Latvian and Lithuanian insurance market -- we went to Lithuania a little earlier, to Latvia this year and will definitely reach Estonia next year. We haven't yet decided when exactly -- we have to make a business plan and see what kind of synergy we can generate here," Hagen told in an interview to Postimees.
"To be honest, it's a shame that we didn't start here earlier than 2009. One of the reasons is, like I said before, that we didn't look at the potential of a market with 6.52 million people but looked separately at markets with 1.3 million, 2 million, and then 2.5 million and now 3 million people," he added.
The group's share of the Estonian life insurance market is 16 percent, while in Central and Eastern Europe its market share is about 19 percent.
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