The Austrian insurer Vienna Insurance Group (VIG) has increased its turnover in Romania by 23% in the first nine months of the year to over EUR 300 million.

Its pre-tax profit reached EUR 5.5 million, double compared to the same period of last year. The growth was due to the changes recorded in the local insurance market, as well as the company’s restructuring measures.

The Austrian group owns in Romania the companies Asirom, Omniasig, and BCR Asigurari de Viata.

In the general insurance market, the gross premiums written by the Austrian group in Romania increased by 15.9% to EUR 241.8 million. The business in the life insurance segment went up by over 66% to EUR 58.8 million.

editor@romania-insider.com