Vienna Insurance Group had announced the signing of a share purchase agreement for the business in August 2016. Austrian insurer VIG, which has been the market leader in Romania for the past 10 years, reinforces its presence in the country. Its CEO Elisabeth Stadler notes that the Romanian insurance market grew by around 9% last year. Axa Life generated more than €3.8m (£3.2m) gross premium income in the financial year 2016. Its buyers were the two VIG companies BCR Life and Omniasig.
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