Acquisition of QBE Makedonija completed
Vienna Insurance Group AG Wiener Versicherung Gruppe (VIG) has concluded the acquisition of a majority stake in QBE Makedonija. VIG has acquired 92.9 percent of the voting rights in the Macedonian company. The remaining shares are in free float. As a result of the transaction the Vienna Insurance Group is now Macedonia's leading insurer, with a market share of over 20 percent.
Leading insurer with a strong sales network
QBE Makedonija has a broad product portfolio, with a specific focus on motor insurance and casualty insurance, and a strong nationwide sales network. QBE currently employs over 200 people at its 19 branches. In 2012 the company recorded premium income of around EUR 11.2 million.
Vienna Insurance Group in Macedonia
The Vienna Insurance Group has had a presence on the Macedonian market since 2007 through its Winner and Winner Life subsidiaries. The Group posted a premium volume of some EUR 10.2 million in Macedonia last year.
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Press release (ENG)
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