M&A Deal Summary

Vienna Insurance Group Acquires Seesam Insurance AS

On December 18, 2017, Vienna Insurance Group acquired insurance company Seesam Insurance AS

Acquisition Highlights
  • This is Vienna Insurance Group’s 9th transaction in the Insurance sector.
  • This is Vienna Insurance Group’s 1st transaction in Estonia.

M&A Deal Summary
Date 2017-12-18
Target Seesam Insurance AS
Sector Insurance
Buyer(s) Vienna Insurance Group
Deal Type Add-on Acquisition

Target

Seesam Insurance AS

Tallinn, Estonia
Seesam Insurance AS is a provider of insurance services. Seesam also has offices in Latvia and Lithuania. It has over 200,000 customers and sells its non-life products across all distribution channels. In 2016 the company reported gross written premiums of around EUR 60 million. Seesam currently has 335 employees. In the first six months of 2017, Seesam had a 5.7 percent share of the non-life insurance market in the Baltic states, and a total market share of 4.2 percent.

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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 10 of 11
Sector (Insurance) 9 of 10
Type (Add-on Acquisition) 7 of 7
Country (Estonia) 1 of 1
Year (2017) 2 of 2
PREVIOUS 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 -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-11-29 Aegon NV - Central and Eastern European Business

Budapest, Hungary

Aegon NV - Central and Eastern European Business (CEE) includes insurance companies, pension funds, asset management, and service companies with a premium volume of around EUR 600 million, a managed pension fund volume of around EUR 5 billion and brings an additional customer base of 4.5 million customers in total. After successful closing of the acquisition, Vienna Insurance Group will rise from 6th place to market leader in Hungary. CEE Business is based in Hungary, Poland, Romania and Turkey.

Buy €830M
Mergr

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