In July 2016, Vienna Insurance Group (VIG) has signed a share purchase agreement with the Company AXA Non-life insurance a.d.o. Belgrade and AXA Life Insurance a.d.o. Belgrade for their takeover. Since the regulatory authorities gave final approval for the share purchase agreement, the transaction was completed on 30th November 2016.
,,On the basis of the positive economic predictions, Serbia is, for VIG, the right market for growth and investment. Our goal was to increase market share at least 10% by the mid-term plan and we are very pleased that we have already achieved that goal” said Peter Höfinger, member of the Board of Vienna Insurance Group in charge of the Serbian market. These two AXA companies have achieved over 12 million of insurance premiums in fiscal year 2015. The product range offered includes accident insurance, motor insurance, property and persons insurance. Through the existing company, Wiener Städtische Osiguranje, VIG has already been successfully present on the Serbian market.
