BiH: JAHORINA Osiguranje rebranded to WIENER VIG

5 December 2014 — Vlad BOLDIJAR
Bosnian insurer JAHORINA Osiguranje (owned by VIG since October 2011) said it has changed its name to WIENER Osiguranje VIENNA Insurance Group to better reflect its ownership, the insurer announced in a press release. "All contracts issued under the name of JAHORINA will remain in force until their expiration", declared Miroslav MISKIC, General Manager of WIENER Osiguranje VIG.

Originally based in Pale (in autonomous region Republika Srpska) JAHORINA Osiguranje announced it has moved its headquarters to Banja Luka - the second largest city in Bosnia and Herzegovina after the capital Sarajevo.

Austria's VIENNA Insurance Group entered the Bosnian insurance market in late 2011 by acquiring approximately 91.7% of the JAHORINAS's overall capital and approximately 96.6% of the voting shares in the company.

In the first nine months of 2014, JAHORINA reported premiums of approximately EUR 10.7 million. In Republika Srpska, JAHORINA was the market leader, with a market share of 18%. Based on the overall market in Bosnia-Herzegovina, the company ranked 8th (of 24 insurers), with a market share of 4.92%.

JAHORINA was established in 1992 as a property insurer. Since the first quarter of 2010, the company has also offered life insurance. The sales network includes eight branches and more than 50 offices across the country. JAHORINA employed 214 people and provide insurance services to 100,000 customers.