Vienna Insurance Group (VIG) will acquire 80% of Moldasig S.A. after securing the stake in a public auction, a move that will make it the largest insurer in Moldova with an estimated 30% market share.
Deputy CEO Peter Höfinger said the deal reflects VIG’s commitment to the Moldovan market and its intention to strengthen the local insurance sector.
This acquisition demonstrates our strong commitment to the Republic of Moldova. Our strategic objective is to contribute to the better service of the Moldovan economy and its citizens by further strengthening the insurance sector.
VIG deputy CEO and managing board member responsible for Moldova Peter Höfinger
“We have confidence in Moldova’s European integration trajectory and intend to apply our international expertise to enhance stability and risk protection, for the benefit of society at large. We would like to specifically mention the transparent and professional organisation of the process by authorities of the Republic of Moldova as well as to express our gratitude for their trust in VIG as a long-term partner.”
Moldasig generated premium volume of about €24 mn in 2024 and employed around 540 staff.
The acquisition will double VIG’s premium volume in the country, the company noted. Moldasig currently holds a 14% market share and is one of Moldova’s largest nonlife insurers, offering a range of products to individuals and corporate clients.
The transaction is expected to close within days, pending approval from the Moldovan competition authority and other standard conditions.
VIG said the auction followed a multi-stage bidding process organized by the Moldovan state. The group has operated in the market since 2014, when it bought local insurer Donaris, which now serves more than 120,000 customers nationwide.
VIG reported profit before taxes of €261.1mn for the first quarter of 2025, a 7.5% increase from the previous year.
The insurer’s gross written premiums escalated by 8.3% year-on-year to €4.6bn, largely driven by its operations in Poland and the extended central and eastern Europe region, particularly Romania, Bulgaria and Slovakia.
