Croatian insurance market's watchdog approved the merger the VIG units, WIENER and ERSTE

The Croatian Financial Services Supervisory Agency (HANFA) approved today the merger of the Croatian subsidiary of Vienna Insurance Group (VIG), Wiener Insurance, with Erste VIG, in accordance with the Merger Agreement dated 6 February 2018, the authority's website reads.

In the same HANFA session, appointments of two new Members in the Management Board of the VIG unit, Wiener were approved:

  • Snjezana BERTONCELJ - for the mandate starting the date of enrollment in the court register of the afore mentioned merger until 30 June 2021
  • Jasminka HORVAT MARTINOVIC - for the mandate period from 30 June 2018 to 30 June 2021.
The two VIG subsidiaries account together for 8.5% of the Croatian insurance market. WIENER Osiguranje VIG reported in 2017 GWP worth EUR 78.9 million (6.5% market share, ranks 5th), while ERSTE Osiguranje VIG ended last year with GWP of 24.27 million (2% market share).

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