Vienna Insurance Group has been present in Hungary since 1996.
VIG signed the purchase agreement for the acquisition of the Central and Eastern European business of the Dutch insurer Aegon for EUR830 million at the end of November 2020. The operations in question consist of around 15 companies in Hungary, Poland, Romania and Turkey, with the Hungarian companies (insurance, pension fund, asset management and service company) making up an important part.
In Romania, VIG owns Omniasig, Asirom and BCR Asigurari de Viata. The acquisition of Aegon Romania would allow VIG to enter the local private pension market.
The deal is expected to be finalized in the second half of 2021, pending regulatory and antitrust approvals.