Vienna Insurance Group (VIG), Austrian insurance company operating as Omniasig locally, has announced its preliminary financial results, reporting a 25.4 percent growth in total gross written premiums (GWP) 2015 over the previous year in Romania.
With an improved market environment in Romania, the company obtained positive results from implementation of measures, with a growth of 20.6 percent in the property and casualty segment. The GWP in this area totaled EUR 363.1 million, as compared to the EUR 301.1 million registered in 2014.
VIG also remained on course with life premiums, achieving an increase of 51.8 percent from EUR 54.4 million in 2014, to EUR 82.5 million in 2015.
At group level, property and casualty insurance grew by 2.0 percent, and in life insurance regular premium products recorded an increase of 2.3 percent. The decrease in total unconsolidated direct premiums written (-1.5 percent) to around EUR 9.2 billion was primarily due to the ongoing low level of interest rates and the resulting restraint being exercised with respect to sales of single premium life insurance products.
Vienna Insurance Group is an insurance specialist in Austria as well as in Central and Eastern Europe. About 50 companies in 25 countries employ 23,000 serving a region with 180 million people. VIG is listed on the Vienna Stock Exchange and the Prague Stock Exchange.