M&A Deal Summary

Vienna Insurance Group Acquires BTA Baltic Insurance Company AAS

On August 24, 2016, Vienna Insurance Group acquired insurance company BTA Baltic Insurance Company AAS

Acquisition Highlights
  • This is Vienna Insurance Group’s 7th transaction in the Insurance sector.
  • This is Vienna Insurance Group’s 2nd transaction in Latvia.

M&A Deal Summary

Date 2016-08-24
Target BTA Baltic Insurance Company AAS
Sector Insurance
Buyer(s) Vienna Insurance Group
Deal Type Add-on Acquisition

Target

BTA Baltic Insurance Company AAS

Riga, Latvia
BTA Baltic is the second-largest insurer on the non-life market in Latvia and also ranks second on the non-life market in Lithuania; in Estonia it is number 7 on the non-life market.

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Buyer(S) 1

Buyer

Vienna Insurance Group

Vienna, Austria

Category Company
Founded 1824
Sector Insurance
Employees30,130
Revenue 11.6B EUR (2023)
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. Vienna Insurance Group was incorporated in 1824 and is headquarters in Vienna, Austria.


DEAL STATS #
Overall 8 of 11
Sector (Insurance) 7 of 10
Type (Add-on Acquisition) 5 of 7
Country (Latvia) 2 of 2
Year (2016) 5 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-08-04 AXA Life Insurance S.A.

București, Romania

AXA Life Insurance S.A. is a provider of life insurance services. Company provides commercial insurance for small and medium-sized enterprises; and automobile insurance, motorcycle insurance, and pet insurance.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-10-30 Merkur Osiguranje d.d.

Zagreb, Croatia

Merkur Osiguranje d.d. is a product portfolio mainly comprises life insurance sold through financial intermediaries such as banks and insurance brokers. In 2016 the company recorded gross written premiums of around EUR 14 million. Overall, it has a 4.4% market share in Bosnia-Herzegovina*), but accounts for about 21% of the life insurance market. Merkur has around 75 employees.

Buy -