June 7, 2018 / 6:53 AM / in a year

Vienna Insurance Group expands in Poland

FILE PHOTO: The logo of Vienna Insurance Group is pictured at one of its offices in Vienna, Austria, April 4, 2016. REUTERS/Leonhard Foeger

VIENNA (Reuters) - Vienna Insurance Group (VIG) (VIGR.VI) said on Thursday it bought German peer Gothaer Finanzholding AG’s Polish unit.

Gothaer Towarzystwo Ubezpieczen (Gothaer TU) mainly sells non-life insurance products and generated a premium volume of around 150 million euros ($177 million) last year, VIG said without providing a purchase price.

The takeover is subject to regulatory approval in Poland.

Reporting by Kirsti Knolle; Editing by Adrian Croft

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