Austria-based Vienna Insurance Group (VIG) has submitted a bid to acquire an 80% share of insurance company Moldasig. 

Moldasig, headquartered in Chișinău, holds a market share of around 14% and offers a full suite of non-life insurance products catering to both individuals and businesses. 

VIG’s bid follows an invitation from the Government of the Republic of Moldova. The agreement is part of a structured bidding process initiated by the Moldovan state’s acquisition of an 80% share in the company. 

The Moldovan National Bank has already endorsed VIG as a suitable buyer for the stake in Moldasig.  

VIG deputy CEO Peter Höfinger said: “We welcome the government’s decision to attract international investors who aim at accelerating the local economy. As the market leader in the CEE [central and eastern Europe] region VIG brings in deep expertise that takes insurance protection to the next level.  

“The attractiveness of Moldova’s economy has grown steadily. With the planned investment we express our trust in Moldova’s EU accession path and will further develop the local insurance market for the benefit of our customers.” 

Since entering the Moldovan market in 2014 with the purchase of Donaris, VIG has grown to serve more than 120,000 clients.  

The acquisition of Moldasig would see VIG’s market share in Moldova rise to approximately 30%.  

In March, VIG acquired a 48.82% stake in Phinance, a Polish financial brokerage specialising in insurance sales, financial advisory services, and the distribution of investment and credit products.  

This move follows the merger of VIG’s three Polish life insurance companies to create Vienna Life, focused on life and health insurance, in October 2024.