VIG Re plans expansion in Germany; to enter France, Switzerland

Vienna Insurance Group’s VIG Re plans to grow its reinsurance business in Western Europe, particularly in Germany, the company said in a press release.

Prague headquartered VIG Re has been focusing on the CEE (Central and Eastern Europe) region and operates in 31 countries.

VIG Re is now planning a gradual expansion of its business in Germany and controlled entry into the market in Western Europe, with a focus on France, Belgium, Luxembourg and Switzerland, the company said.

"VIG Re has acquired an excellent market reputation of being practical and operating quickly," said Elisabeth Stadler, CEO of Vienna Insurance Group. "We will position ourselves in the expanded markets as a niche player for special customer and market segments. These are primarily local and regionally-oriented direct insurers."

VIG Re recorded total premiums of around €370 million in 2016.

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