Austrian group Vienna Insurance Group (VIG) underwrote gross premiums of EUR 428.6 million in Romania last year, up by 26.2% over 2014.

Its local pre-tax profit dropped by over 7% to EUR 5.6 million, as the group’s goodwill on the Romanian market decreased by some EUR 50 million.

VIG owns three insurers in Romania, namely Asirom, Omniasig, and BCR Asigurari de Viata. The group underwrote gross premiums of EUR 346.4 million on the damage and accidents segment, up by 21.4% over the previous year.

On the life insurance segment, VIG saw premiums of EUR 82.2 million, up by 51.2% compared to 2014.

The group’s overall market share in Romania increased by 3 percentage points last year reaching 23%.

editor@romania-insider.com