Austrian insurer VIENNA Insurance could make new acquisitions in Hungary and Moldova this year if interesting targets were available, according to company's officials cited by REUTERS. Also, VIG's representatives told reporters that they are eyeing potential growth opportunities in Poland and Ukraine as well.

In Hungary, VIG is represented by insurance company UNION, which has a market share of 4.3% (general insurance) and is ranked among the first ten insurance companies on the local market. On the other hand, in Republic of Moldova, Austrian insurer has entered indirectly in 2009 through VIENNA Insurance Management (VIG's partner on the acquisition and expansion) which is the majority shareholder of DONARIS Group, the fifth company on the local market.

2011 was a good year for the Austrian group, as it reported a total profit of EUR 414.1 million in the first nine months, up by 10% in comparison to the previous year, and total premium of more than EUR 6.8 billion.

Also, VIG has recently made new acquisitions, such as entering Bosnia and Herzegovina insurance market in October (by acquiring 92% of JAHORINA Osiguranje) and a new takeover in Poland (Towarzystwo Ubezpieczen na Zycie "polis Zycie" SA) in November.