WIENER Re gets operating license in Serbia
The National Bank of Serbia granted recently an operating license to
the Belgrade-based Reinsurance Company WIENER Re, the fourth reinsurance
company to be registered in the Republic of Serbia.
President of the company's Board of Directors is Mr. Zoran BLAGOJEVIC,
and legal entity WIENER Stadtische Versicherung A.G. VIENNA Insurance
Group from Vienna, Austria, its majority founder. Another member of
this internationally renowned VIENNA Insurance Group is the WIENER
Stadtische Osiguranje a.d. Beograd, which has been operating successfully
on the Serbian insurance market since 2003. The company ranked fourth
on the local non-life insurance market and leader on the life segment.
By founding WIENER Re, VIENNA Insurance Group broadens its presence
on the Serbian insurance market and adds to competition in the reinsurance
business. Its operations will help retain a higher proportion of insurance
premiums in Serbia.
"This EUR 5 million investment strengthens our financial potentials
and shows that in spite of the global financial turmoil, the National
Bank of Serbia has been successful in maintaining the stability of
the domestic financial system", bank's officials said.
Author: Oleg DORONCEANU
on 18.11.2008
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