Vienna Insurance Group AG Wiener Versicherung Gruppe
EANS-Adhoc: Vienna Insurance Group acquires Central- and Eastern European business of Aegon
--------------------------------------------------------------------------------
Disclosed inside information pursuant to article 17 Market Abuse Regulation
(MAR) transmitted by euro adhoc with the aim of a Europe-wide distribution.
The issuer is responsible for the content of this announcement.
--------------------------------------------------------------------------------
Mergers - Acquisitions - Takeovers
29.11.2020
Vienna - VIENNA INSURANCE GROUP AG Wiener Versicherung Gruppe (VIG) agreed with
Aegon N.V. on 29 November 2020 to acquire Aegon's insurance business in Hungary,
Poland, Romania and Turkey. VIG will take over Aegon's non-life and life
insurance companies as well as pension funds, asset management and service
companies in these countries, which ideally complement VIG's existing portfolio.
The purchase price amounts to EUR 830 million. The transaction is subject to the
necessary regulatory and competition approvals. Closing of the transaction is
expected to take place in the second half of 2021.
With the acquisition of these companies, VIG is further expanding its leading
market position in Central and Eastern Europe and moves up to the first rank in
Hungary's insurance market. In addition, VIG is extending its scope of activity
in the pension fund business in this region and will also be active in the life
business in Turkey for the first time. The premium volume of the insurance
companies in the four countries amounted to the equivalent of approx. EUR 600
million in 2019, with a net profit of approx. EUR 50 million.
From today's perspective, VIG assumes the solvency ratio to remain in the
communicated comfort zone of 170 to 230 % at the time of the closing of the
transaction.
The following securities of VIG are admitted for trading on a regulated market:
ISSUE TITEL ISIN TRADING SEGMENT
Share AT0000908504 Vienna and Prague Stock Exchange,
Official Market
VIG subordinated bond 2015 AT0000A1D5E1 Luxembourg Stock Exchange, Second
Regulated Market
VIG subordinated bond 2013 AT0000A12GN0 Vienna Stock Exchange, Second Regulated
Market
Further inquiry note:
VIENNA INSURANCE GROUP AG
Wiener Versicherung Gruppe
1010 Vienna, Schottenring 30
Wolfgang Haas
Head of Group Communications & Marketing, Spokesperson of the Group
Phone: +43(0)50 390-21029
Fax: +43 (0)50 390 99-21029
E-Mail: wolfgang.haas@vig.com
Nina Higatzberger-Schwarz
Head of Investor Relations
Phone: +43 (0)50 390-21920
Fax: +43 (0)50 390 99-21920
E-Mail: nina.higatzberger@vig.com
end of announcement euro adhoc
--------------------------------------------------------------------------------issuer: Vienna Insurance Group AG Wiener Versicherung Gruppe
Schottenring 30
A-1010 Wien
phone: +43(0)50 390-22000
FAX: +43(0)50 390 99-22000
mail: investor.relations@vig.com
WWW: www.vig.com
ISIN: AT0000908504
indexes: WBI, VÖNIX, ATX
stockmarkets: Prague Stock Exchange, Wien
language: English