VIG has completed the acquisition of the Moldovan insurer DONARIS

10 April 2014 —
vig_donarisVIENNA Insurance Group (VIG) has completed the acquisition of around 94% of Moldovan insurer DONARIS Group. VIG group officials have confirmed for the completion of the transaction, but more details in this regard will be communicated at a press conference that will take place in the near future.

VIG announced at the end of January that it had signed an agreement to acquire around 94% of the Moldovan insurer DONARIS Group. After granting of the regulatory approvals, the transaction has been concluded.

DONARIS was founded in 1998 and has its head office in the Moldovan capital city Chisinau. The non-life insurer recorded premiums of MDL 100,91 million (about EUR 6 million) in 2013, 8.0% up over the year. It has a market share of 8.5%, which makes it the fourth largest non-life insurer in Moldova.

The company currently employs approximately 50 staff members in its head office and approximately 70 people in branch offices. Insurance products are sold through its own branch offices as well as via agents and partnerships with brokers, banks and leasing companies.

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