Vienna Insurance secures distribution deal on Erste insurance buy

The Austrian firm’s products will sell in 2,900 Erste branches • Zurich Financial Services • Groupama • Generali

The Austrian institution Erste Bank der oesterreichischen Sparkassen AG is selling its insurance subsidiaries in central and eastern Europe, as well as the Austrian life company Sparkassen Vericherungs AG (s Versicherung) to Wiener Staedtische AG – Vienna Insurance Group (VIG) for €1,445mn ($2,273mn).