In Romania, Vienna Insurance Group (VIG) earned premiums of a total of EUR 510.9 M, according to preliminary development report in 2011. In the life insurance segment the Group stepped up premiums by a gratifying 7.9 per cent to EUR 100.9 M– this may be attributed in particular to using banks as a sales channel. The non-life segment earned premiums of EUR 410.0 million. With its Romanian Group companies, VIG holds a market share of about 30 percent. “Despite partly significant fluctuations of important CEE currencies, we report a substantial increase in premiums of 3.4 per cent and are again performing above the market average. The increase in profit before taxes by about 10 per cent to nearly EUR 560 M underlines the long-term favourable development of our Group,” explains Günter Geyer, CEO of Vienna Insurance Group.
