WIENER STADTISCHE successfully completes its merger with s Versicherung

VIENNA Insurance Group said WIENER STADTISCHE officially becomes the largest life insurance company in Austria after WIENER STADTISCHE successfully completes its merger with s Versicherung.

"Following Hungary, Slovakia and Croatia, we have now successfully merged our largest bank insurance company with our largest local composite insurance company in Austria according to plan. Bank insurance distribution has traditionally been very important for life insurance in Austria, and we now plan to make greater use of it for the other lines of business. That is why our pilot project to expand the products and services offered to customers of our distribution partner Erste Group was intentionally started in Austria already a year ago," explained Elisabeth STADLER, CEO of VIENNA Insurance Group.

The merger was approved by the Austrian Financial Market Authority (FMA). "This is a historical step in our company's history. In addition to its own field staff and distribution partners, WIENER STADTISCHE can now also make use of bank distribution, which provides us with three strong distribution channels," stated Robert LASSHOFER, General Manager of WIENER STADTISCHE.

WIENER STADTISCHE is now the largest life insurance company in Austria, with a premium volume of almost EUR 1.4 billion and a market share of more than 23 percent. Total premium volumes in all lines of business exceed EUR 3 billion, strengthening the company's second place in market ranking, and its assets under management have increased to around EUR 22 billion.

VIG is represented in Austria by two operating insurance companies, WIENER STAEDTISCHE and DONAU Versicherung. The brand s Versicherung was retained as a sales brand. VIG is Austria's leading insurer, with a market share of 23%.

Follow XPRIMM Publications on LinkedIn, for more data on the insurance and financial industry.

Share |

Related articles

Peter CLARKE named VP & COO of FAIRFAX

FAIRFAX Financial Holdings Limited announced that Peter CLARKE has been appointed Vice President (VP) and Chief Operating Officer (COO) of FAIRFAX, reporting to FAIRFAX President, Paul RIVETT.

2019-02-12

ERGO Group appoints a Polish manager

Adam ROMAN, board member of Ergo Hestia (Poland), will hold the position of Head of Global P&C of the ERGO group, effective 1 March. His tasks will include supervision over property insurance of the group in the areas of underwriting, actuarial and pricing, as well as reinsurance.

2019-02-07

ON THE MOVE

Peter CLARKE named VP & COO of FAIRFAX

FAIRFAX Financial Holdings Limited announced that Peter CLARKE has been appointed Vice President (VP) and Chief Operating Officer (COO) of FAIRFAX, reporting to FAIRFAX President, Paul RIVETT.

12.02.2019

ERGO Group appoints a Polish manager

Adam ROMAN, board member of Ergo Hestia (Poland), will hold the position of Head of Global P&C of the ERGO group, effective 1 March. His tasks will include supervision over property insurance of the group in the areas of underwriting, actuarial and pricing, as well as reinsurance.

07.02.2019

TOP EVENT

Inclusive Insurance - a creative solution to narrow the protection gap in the emerging markets of the Southeastern Europe

Insurance should be accessible to all social classes, regardless of their wealth & income status. Products offered today are conventional insurance products, largely inspired from the developed markets as "one-size-fits-all" solutions, affordable to only middle- and high-income clients in the Eastern Europe's emerging & developing markets. Inclusive insurance's goal is making insurance available to all, with responsible insurance offers, thus making up for a solution to narrow the insurance coverage gap in the region.

14.02.2019

Latest trends and challenges in the property and motor insurance lines under scrutiny, in Vienna

Property and motor insurance lines are providing for about 75% of the non-life insurance business in the CEE region, but are responsible for over 77% of the claims expenses. As such, although other classes of risks are emerging, for the time being and most probably for a rather long period ahead, property and motor insurance lines will continue to be at the heart of CEE's insurance market architecture.

14.02.2019

FIAR 2019: Register before 28 February and save EUR 400 of the attendance fee

To the satisfaction of its traditional guests, FIAR returns in 2019 to its historical hometown, Sinaia. The forthcoming edition will benefit from the comfort and professional facilities of a new venue, the Conference Center of the International Hotel ****, located in the heart of the beautiful mountain resort. Registration is opened at a significantly discounted early bird rate until 28 February.

10.01.2019

See all