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24.07.2007 – 13:37

Wiener Städtische Allgemeine Versichererungs AG

euro adhoc: WIENER STÄDTISCHE Versicherung AG Vienna Insurance Group
Mergers - Acquisitions - Takeovers
Vienna Insurance Group in Romania: Acquisition of majority shareholding in Asirom planned

  Disclosure announcement transmitted by euro adhoc. The issuer is responsible
  for the content of this announcement.
24.07.2007
Please note: this is a translation; only the German version of this 
release is legally binding.
Wiener Städtische Versicherung AG Vienna Insurance Group enlarges its
commitment in Romania and, today, has signed a contract for the 
acquisition of a majority shareholding in SC Asigurarea Romaneasca 
Asirom S.A. (Asirom). As a first step, 30 percent of the shares were 
already taken over today from the current majority shareholder, 
Romanian Interagro S.A.
"This transaction allows us to further expand our commitment in our 
core market Romania," explains CEO Günter Geyer. "Taking a capital 
stake in Asirom markedly strengthens the position of the Vienna 
Insurance Group on this future growth market in the new Europe."
The transaction was concluded subject to the approval by the Austrian
and Romanian authorities. In correspondence with the Romanian legal 
regulations, Wiener Städtische Versicherung AG Vienna Insurance Group
after acquiring the majority will make a compulsory offer to the 
remaining shareholders of exchange-listed Asirom.
Asirom is one of the leading insurance companies in Romania and 
employs about 2,200 staff. With its tight-woven distribution network 
counting 49 regional head offices and 160 branches, Asirom is 
represented throughout the entire country.
In the business year 2006, Asirom earned approx. RON 600 million in 
gross premiums (at the current exchange rate approx. EUR 190 
million). In the first quarter of 2007, the company, at a market 
share of some 11 percent in the non-life segment and some 8 percent 
in the life insurance business, ranks third both in these business 
segments and on the overall Romanian insurance market.
The Vienna Insurance Group is currently represented in Romania with 
four companies and at a market share of 17.7 percent holds the first 
position on the market in the first quarter of 2007. The Vienna 
Insurance Group family includes Omniasig Life and Non-Life, Unita and
the agricultural insurer Agras.
Wiener Städtische Versicherung AG
Vienna Insurance Group
A-1010 Wien, Schottenring 30
ISIN: AT0000908504
end of announcement                               euro adhoc 24.07.2007 12:56:07

Further inquiry note:

Mag. Barbara Hagen-Grötschnig
Unternehmenskommunikation
WIENER STÄDTISCHE Versicherung AG
Vienna Insurance Group
A-1010 Wien, Schottenring 30
Tel.: +43 (0)50 350-21027
Fax: +43 (0)50 350 99-21027
E-Mail: b.hagen@staedtische.co.at

Branche: Insurance
ISIN: AT0000908504
WKN: A0ET17
Index: ATX Prime, ATX, WBI
Börsen: Wiener Börse AG / official market

Original content of: Wiener Städtische Allgemeine Versichererungs AG, transmitted by news aktuell

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