Vienna Insurance bids for 80% stake in Moldasig
From Yahoo Finance: 2025-05-19 10:22:00
Austria’s Vienna Insurance Group (VIG) bids for an 80% stake in Moldasig, a Moldovan insurance company with a 14% market share. The Moldovan National Bank has approved VIG as a suitable buyer. VIG aims to boost the local economy and expand its presence in Moldova, serving over 120,000 clients since 2014.
VIG’s bid is part of Moldova’s structured bidding process, initiated by the government’s acquisition of an 80% share in Moldasig. VIG plans to enhance the local insurance market, expressing confidence in Moldova’s EU accession path. If successful, VIG’s market share in Moldova would increase to around 30%.
In March, VIG acquired a 48.82% stake in Phinance, a Polish financial brokerage. This move follows the merger of VIG’s three Polish life insurance companies to establish Vienna Life. VIG aims to strengthen its presence in the region, focusing on life and health insurance products.