News
VIG will set up a company in Prague
The insurance group VIG decided to set up a reinsurance company
The Austrian insurance group VIG decided to set up a reinsurance company in Prague. The Czech News Agency (ČTK) reported that the Austrian Vienna Insurance Group decided to set up its own reinsurance company located in Prague. It will send a licence application to the Czech National Bank in the upcoming days. The equity of the reinsurance company will be 100 million EUR. This step is taken with a clear goal to attract the potential of insurance markets of Central and Eastern Europe – incidentally, there is no reinsurance company in Austria. VIG assumes it will be able to concentrate up to one billion EUR.
On the Czech market Kooperativa and Česká podnikatelská pojišťovna are part of VIG. Some of our members have already started to place their deals with Wiener Städtische, the most important VIG link.
