No. 11/2015
12 June 2015
Vienna Insurance Group company Compensa Life SE has strengthened one of its key distribution channels in Lithuania with the acquisition of life insurance sales specialist Finsaltas.
With around 300 insurance brokers, Finsaltas is Lithuania's largest life insurance sales company. In 2014 the company generated some EUR 7.1 million in life insurance premiums. Compensa Life's acquisition of Finsaltas, a highly successful business, will pave the way for continued and closer cooperation.
In the past few years Lithuania's insurance industry has expanded rapidly, in line with the country's economic recovery.
Unit-linked products dominate the life insurance segment, accounting for some 70 percent of total premiums. Life insurance premiums have risen by an average of around 20 percent over the past few years.
With average annual growth of 25.5 percent in life insurance in the past five years, VIG has significantly outpaced the growth in the Baltic market, recording a threefold increase in premiums.
in EUR million
VIENNA INSURANCE GROUP: W iener Städtische (AT) • Donau (AT) • s Versicherung Gruppe (AT, CZ, HR, HU, RO, SK) • Intersig (AL) • Sigma Interalbanian (AL) Bulstrad (BG) • Bulstrad Life (BG) • W iener Osiguranje (BIH) • Kupala (BY) • Kooperativa (CZ) • CPP (CZ) • VIG RE (CZ) • InterRisk (DE) • Compensa Life (EE, LT, LV) GPIH (GE) • IRAO (GE) • Wiener osiguranje (HR) • Union Biztosító (HU) • Vienna Life Biztosító (HU) • Vienna-Life (LI) • Donaris (MD) • Wiener Städtische Podgorica (ME) Winner (MK) • Winner Life (MK) • Makedonija (MK) • Compensa (PL) • InterRisk (PL) • Benefia (PL) • Polisa (PL) • Skandia (PL) • Omniasig (RO) • Asirom (RO) Wiener Städtische Beograd (RS) • Kooperativa (SK) • Komunálna poisťovňa (SK) • Ray Sigorta (TR) • Kniazha (UA) • Globus (UA) • Jupiter (UA) • UIG (UA) Branches: Donau (IT), Wiener Städtische (IT), W iener Städtische (SI)
DVR: 0016705
Vienna Insurance Group (VIG) is the leading insurance specialist in Austria as well as in Central and Eastern Europe. About 50 companies in 25 countries form a Group with a long-standing tradition, strong brands and close customer relations. VIG looks back on 190 years of experience in the insurance business. With about
23,000 employees, Vienna Insurance Group is the clear market leader in its core markets. It is therefore excellently positioned to take advantage of the long-term growth opportunities in a region with 180 million
people. The listed Vienna Insurance Group is the best-rated company of ATX, the leading index of Vienna Stock
Exchange; its share is also listed on the Prague Stock Exchange.
If you have any questions, please contact:
VIENNA INSURANCE GROUP
Public Relations
Schottenring 30
1010 Vienna
Alexander Jedlicka +43 50 390-21029, alexander.jedlicka@vig.com
Silvia Polan +43 50 390-21064, silvia.polan@vig.com
Julia Thaller +43 50 390-26814, julia.thaller@vig.com
All press releases are available for download: http://www.vig.com
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