"Vienna Insurance Group" to open reinsurance company in Prague

"Vienna Insurance Group", the leading insurance group in central and east Europe, a part of which is local "Wiener Stadtische" insurance company, is going to open its own reinsurance company.

The heaquarters of the new reinsurance company will be in Prague. The plan is that this company comes in possession of stock capital worth 100m EUR, and it is expected that its premiums will reach amount of about 300m EUR within next two or three years.