VIG wants to take over Moldasig: On the way to market leadership in Moldova!

VIG wants to take over Moldasig: On the way to market leadership in Moldova!

Vienna Insurance Group (VIG) has made a significant offer to acquire 80 percent of the shares in the Moldovan insurance company Moldasig S.A. delivered. This strategic investment marks an important step in the Moldovan insurance market, where Moldasig has a market share of approximately 14 percent. With the takeover, VIG could increase its own market share to around 30 percent and thus achieve market leadership. The Moldovan National Bank has also approved VIG as a potential buyer, paving the way for the transaction.

VIG Deputy General Director Peter Höfinger expressed himself positively about the Moldovan government's initiative to bring international investors to the country. He emphasized VIG's know-how, which can contribute to the further development of the insurance market in the CEE region. The takeover is therefore not only an economic venture, but also a sign of trust in Moldova's efforts to move closer to the EU.

Background of the transaction

The offer to take over Moldasig was submitted at the invitation of the Moldovan government, which initiated a multi-stage tender process. This approach aims to increase stability and excellence in the field of risk insurance. Moldasig is one of the leading non-life insurance companies in Moldova, offering a comprehensive range of products for both private and business customers.

VIG has been on the Moldovan market since 2014 and operates the insurance company Donaris, which serves more than 120,000 customers. This presence, which has been built up over many years, gives VIG a solid basis to successfully implement the integration of Moldasig into its existing business model.

outlook

The planned takeover not only represents a significant step in VIG's expansion, but could also have far-reaching effects on the Moldovan insurance market. With the targeted market share of 30 percent, VIG would become the dominant force in the non-life insurance segment in Moldova. This situation could both place competitive pressure on other companies and potentially lead to an improvement in services in the industry.

Overall, Vienna Insurance Group's acquisition of Moldasig could be of significant benefit to both the company and the Moldovan market. The acquisition discussions demonstrate VIG's continued interest in stability and growth in the region, supported by a solid market strategy and confidence in Moldova's future development.