Romania is the fourth largest market for Austrian group ViennaInsurance (VIG), only behind Austria, the Czech Republic andSlovakia, after the Austrians have gradually built up a solidposition domestically, through multiple acquisitions. The groupoperates on 16 markets. VIG's gross underwritten premiumsdomestically last year reached 606.7m euros, below the level ofSlovakia, 628.4m euros, the Czech Republic, 1,603m euros andAustria, 3,874m euros. Romanian turnover exceeds, though, that ofPoland, a country twice as big as Romania, where underwrittenpremiums stood at 548m euros last year. Domestically, VIG is theleading group on the insurance market, while Allianz-Tiriac, aninsurer controlled by Germany's Allianz and businessman Ion Tiriac,is the biggest company on the market. VIG owns insurers Omniasig,Asirom, BCR Asigurari and BCR Viata, and at the end of last yearsold small company Omniasig Life to French group AXA.
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