The transaction is pending approval by local authorities.
AXA Asigurari de Viata registered gross revenue from insurance premiums of over EUR4.5 million in 2015, mainly from traditional life insurance policies.
Elisabeth Stadler, CEO of Vienna Insurance Group, said Romania’s life insurance market rose 11% in 2015. BCR Asigurari de Viata, held by VIG group and the second largest player on the Romanian life insurance market, with a 14.4% market share, saw a major increase in 2015.
Stadler also said Romania’s economic growth perspectives are also promising.