Vienna Insurance News

Vienna Insurance Bolsters Position in E. Europe with Purchase of Aegon Unit

Vienna Insurance Group AG bolstered its position as the biggest insurer in central and eastern Europe by agreeing to buy Aegon NV’s business in the region and in Turkey for 830 million euros ($990 million), outbidding NN Group NV and …

Vienna Insurance Discloses Previously Unreported S Immo Stake

Vienna Insurance Group AG disclosed a previously unreported stake in Austrian commercial property firm S Immo AG after Bloomberg reported last week that it’s trying to sell the shares. The insurer currently owns 6.64 million shares in S Immo, about …

AXA to Sell Its Romanian Life & Savings Operations to Vienna Insurance Group

AXA said it has entered into an agreement with Vienna Insurance Group to sell its life & savings insurance operations in Romania and exit the Romanian market. Under the terms of the agreement, Vienna Insurance Group would acquire 100 percent …

AXA to Sell Serbian P/C and Life & Savings Units to Vienna Insurance

AXA announced it has entered into an agreement with Vienna Insurance Group to sell both its Life & Savings and Property & Casualty operations in Serbia and exit the Serbian market. Under the terms of the agreement, Vienna Insurance Group …

Vienna Insurance 2015 Pretax Profit Down 67% on Romanian, Polish Writedowns

Vienna Insurance Group AG fell the most since 2009 after writedowns at its Romanian and Polish businesses added to earlier impairments of computer systems and helped push pretax profit for last year 67 percent lower. The shares fell as much …

Vienna Insurance CEO to Leave Over Strategic Differences; Stadler Is Successor

Vienna Insurance Group AG, Austria’s biggest insurer, said Chief Executive Officer Peter Hagen will leave the company over strategic differences later this month, more than two years before the end of his term. The company named Elisabeth Stadler as a …

Vienna Insurance Q2 Profit Drops 8.6% on Low Interest Rates in Region

Vienna Insurance Group AG, eastern Europe’s biggest insurer, said profit in the second quarter declined 8.6 percent as low interest rates in the region pushed down returns on its investments. Net income in the three months to June dropped to …

Vienna Insurance Posts Lowest Q1 Profit Since ’09, Hit by Low Interest Rates

The financial repercussions of record-low interest rates in Europe were highlighted Wednesday as Vienna Insurance Group AG, eastern Europe’s biggest insurer, posted its worst first-quarter profit since the financial crisis. The insurer, based in Austria’s capital, said the effect of …

Vienna Insurance Misses 2014 Profit Estimates on $85 Million Heta Writedown

Vienna Insurance Group AG wrote down debt of Austrian “bad bank” Heta Asset Resolution AG by 80 million euros ($85 million), a larger amount than expected, causing the firm to miss estimates for profit last year. The insurer, based in …