M&A Deal Summary

Vienna Insurance Group Acquires Baltikums AAS

On July 29, 2015, Vienna Insurance Group acquired insurance company Baltikums AAS

Acquisition Highlights
  • This is Vienna Insurance Group’s 3rd transaction in the Insurance sector.
  • This is Vienna Insurance Group’s 1st transaction in Latvia.

M&A Deal Summary
Date 2015-07-29
Target Baltikums AAS
Sector Insurance
Buyer(s) Vienna Insurance Group
Deal Type Add-on Acquisition

Target

Baltikums AAS

Riga, Latvia
Baltikums AAS is a non-life insurer with an 8 percent market share, making it number 6 in the Latvian insurance market. The company also operates via branches in Lithuania and Estonia. In the financial year 2014, the company generated premiums of more than EUR 20 million. Among others, its product portfolio includes motor and liability insurance, health and travel insurance. Products are sold through their own sales staff as well as through a large network of brokers and agents. Baltikums AAS presently employs about 250 people.

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Buyer(S) 1

Buyer

Vienna Insurance Group

Vienna, Austria

website

Category Company
Founded 1824
Sector Insurance
Employees25,000
Revenue 10.5B EUR (2020)
DESCRIPTION

Vienna Insurance Group is well established in all lines of business and thus offers a comprehensive customer-oriented portfolio of products and services with around 50 Group companies and around 25,000 employees in 25 countries. The Group generated slightly more than EUR 9 billion in premiums in 2016, further strengthening its market leader position in Austria and in Central and Eastern Europe (CEE), where VIG has been operating for more than 25 years. Vienna Insurance Group was incorporated in 1824 and is headquarters in Vienna, Austria.

DEAL STATS #
Overall 3 of 11
Sector (Insurance) 3 of 10
Type (Add-on Acquisition) 3 of 7
Country (Latvia) 1 of 2
Year (2015) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-06-12 Finsaltas

Vilnius, Lithuania

Finsaltas is Lithuania’s largest life insurance sales company. In 2014 the company generated some EUR 7.1 million in life insurance premiums, With around 300 insurance brokers.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-01-05 UBB-AIG

Sofia, Bulgaria

UBB-AIG is Bulgaria’s third-largest retail bank, with over one million customers and a network of more than 200 branches and sales offices. UBB-AIG was set up in 2006 as UBB’s bancassurance company and operates in the non-life segment. UBB-AIG has recorded a stable development in the past few years.

Buy -
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