Vienna Insurance Group (VIG) signed a deal to acquire 100% of peer Gothaer TU, the Polish unit of German insurer Gothaer, VIG said in a press release.
„Gothaer TU will add PLN 620 mln in written premiums to VIG Polska’s insurance portfolio.raising VIG’s share in the local property insurance market to from 6.2% to 7.8%,” according to the release.
VIG plans to complete the transaction within ca. 6 months following its approval by Polish regulators KNF and UOKiK.
VIG raised PLN 3.9 bln in written premiums in Poland in 2017.
