Vienna Insurance Group to acquire Baltikums
Posted On: Jul. 30, 2015 12:00 AM CSTVienna Insurance Group AG has signed an agreement to acquire Latvia-based insurance company Baltikums AAS, reported The Baltic Course.
The acquisition of 100% shares of Baltikums will be completed following the necessary permissions and after the acquisition VIG will become one of the five leading insurers in Latvia. "Over the last five years, VIG's annual growth in the Baltic insurance market has been 30% on the average. Acquisition of Baltikums enables us to proceed with the group's development," said Peter Hagen, general manager of VIG.