Austria-based Vienna Insurance Group (VIG) has closed the previously announced acquisition of the Bosnian subsidiary of Merkur International after securing approval from the local authorities.
The acquired business mainly offers life insurance products and services in Bosnia and Herzegovina.
Go deeper with GlobalData
As a result of completion of the deal, which was inked in October last year, VIG moves up from eighth to third position in Bosnian and Herzegovinian insurance market.
The deal will allow VIG to expand its product range in Bosnia and Herzegovina, which has so far mainly been focused on the non-life business.
VIG, which is now represented by two Group companies, is ranked second in the country’s life insurance segment, with a market share of over 25%.
Prior to this acquisition, VIG Group has been operating in the country through its subsidiary Wiener Osiguranje, which operates primarily in Republika Srpska.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalDataThe company’s two independent companies generated combined premium income of around € 26m in the third quarter of 2017.
