OREANDA-NEWS. February 05, 2014. The bargain is to go through all the formalities at regulatory bodies, the VIG press service informs.

As Vienna Insurance Group Peter Hagen said, by entering the Moldovan market, we have expanded the Vienna Insurance Group’s network to 25 countries and gained access to one of the last blank areas on our map of Central and Eastern Europe. "Donaris provides a good platform for positioning in the insurance market in Moldova”, he declared. Vienna Insurance Group (VIG) is the leading insurance specialist in Austria as well as in Central and Eastern Europe. VIG looks back on 190 years of experience in the insurance business.

With about 23,000 employees, about 50 companies in 24 countries form the Group, share of which is listed on the Prague and Vienna Stock Exchanges. Donaris, Moldovan insurer, was founded in 1998 and has its head office in Chisinau. In the first 6 months of 2013, the non-life insurer collected premiums amounting to EUR 2.89 million, up 9% against the same period of 2012. Around 80% the premiums are attributable to motor insurance.

Donaris has a market share of 8.4%, which makes it the 4th largest non-life insurer. The company currently employs about 120 employees. Insurance products are sold through its own branch offices as well as via agents and partnerships with brokers, banks and leasing companies. Vienna Insurance Management GmbH is considered the major shareholder of Donaris Group until the legitimacy of the bargain between VIF and Donaris is officially confirmed.