The latest insurance industry and company news and analysis from FriedlNews
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Austrian Insurance Industry Headlines

Uniqa Insurance Net Profit Sinks 42.2 Pct Y/Y to EUR 90.3 Mln in H1

Listed insurance group Uniqa enjoyed a good H1 in operating terms, but pretax profit sunk by 44.3 percent y/y to EUR 106.2 million, the company said in a report. Pretax result was burdened by the low interest rates and the launched investments.

August 25, 2016

Vienna Insurance Group Buys AXA Subsidiaries in Serbia

Vienna Insurance Group (VIG) is acquiring AXA’s life and non-life companies in Serbia. The purchase will increase VIG’s market share in Serbia to around 11.5 percent.

July 7, 2016

VIG: Elisabeth Stadler to Replace Peter Hagen as CEO

Due to differences in opinion regarding the future strategic orientation and steering of the Group, Peter Hagen will be leaving his position as Chairman of the Managing Board of the Vienna Insurance Group on 31 December 2015. Elisabeth Stadler will become his successor.

December 2, 2015

VIG Completes Acquisition of Latvian Non-Life Insurer Baltikums AAS

Vienna Insurance Group (VIG) has finalized the 100-percent acquisition of Riga-based Baltikums AAS. As a result of the acquisition, Vienna Insurance Group is now one of the top five insurers on the Latvian market.

October 27, 2015

VIG's Compensa Acquires Lithuania’s Largest Life Insurance Sales Company

Vienna Insurance Group company Compensa Life SE has strengthened strengthened its sales structure in Lithuania with the acquisition of life insurance sales specialist Finsaltas. Finsaltas holds Latvia's biggest life insurance distribution network and recorded some EUR 7.1 million (USD 8.0 million) in life insurance premiums in 2014. for an undisclosed amount, VIG said Friday.

June 12, 2015

Allianz Elementar to Acquire Remaining 50 Percent of Bawag Allianz Vorsorgekasse

Allianz Elementar Versicherung, 50-percent owner of BAWAG Allianz Vorsorgekasse, will acquire the remaining 50 percent from BAWAG PSK.

May 22, 2015

Vienna Insurance Group Places EUR 400 Million Bond Issue

Vienna Insurance Group AG Wiener Versicherung Gruppe placed a subordinated bond with a volume of EUR 400 million with institutional investors.

February 18, 2015

Uniqa Expands Industrial Business in CEE

Uniqa has developed additional insurance related services which target multinational corporations with subsidiaries in Central and Eastern Europe (CEE).

November 18, 2014

FMA Fines Verbund Management with EUR 77,000

Austrian financial watchdog FMA has imposed a EUR 77,000 fine on the management of energy company Verbund, daily Standard reports.

November 5, 2014

Cost of Living Rankings: CEE Capitals Cheaper, Vienna is 32nd Most Expensive City

The Mercer's 2014 "Cost of Living Rankings" have been published and cover 211 cities across five continents. While Western European cities have all risen in the rankings mainly due to the strengthening of the Euro against the US dollar, most cities in Central and Eastern Europe (CEE), however have fallen in the ranking as a result of local currencies depreciating against the US dollar. Bratislava (#84), Prague (#92), Kiev (#98), Ljubljana (#116), Zagreb (#120), Budapest (#135), Warsaw (#142), Belgrade (#184).

July 25, 2014