Weekly Insurance Market Developments
Moldova: Vienna Insurance Group Acquires Moldasig S.A.
3 Sep 2025
Vienna Insurance Group (VIG) has acquired an 80% stake in Moldasig S.A., making it the market leader in Moldova with an estimated 30% market share. Moldasig, a leading non-life insurer founded in 2002, operates over 100 offices nationwide and offers products including motor, home, and health insurance, supported by strong financials and a high solvency ratio. VIG aims to leverage its regional scale and expertise to strengthen Moldova’s insurance sector, enhance service quality, and support policyholder protection. The deal also reinforces Austria’s economic presence in Moldova, highlighting the country’s attractiveness for transparent and secure investment. VIG has been active in Moldova since 2014 and continues to expand its footprint in Central and Eastern Europe, serving 33 million customers across 30 countries.
France: Public transport insurance in turmoil
3 Sep 2025
The Assurances Pilliot scandal has shaken the French market for public passenger transport insurance and damaged the industry’s image. The broker, based in Aire-sur-la-Lys, issued certificates in the name of Accelerant Insurance Europe, which lacked authorization to cover this type of risk in France. As a result, about 72,000 vehicles and 800 clients—including 180 local authorities—were effectively uninsured. Much of this portfolio had previously been with Great Lakes Insurance SE, which later withdrew from new business and ultimately cut ties with Pilliot, transferring the accounts to another broker. Industry experts call the case both a reputational disaster and a baffling breach of professional conduct.
PZU increases its net profit by 32% in the first half of the year
1 Sep 2025
In H1 2025, PZU Group reported gross insurance revenues of PLN 15.2 billion across all markets, including over PLN 1.5 billion from Lithuania, Latvia, Estonia, and Ukraine, marking a 6.5% year-on-year increase. Net profit attributable to shareholders rose 32.1% to PLN 3.23 billion, with adjusted ROE at 21.2%, up 3.8 percentage points from last year. Growth was driven largely by motor liability insurance, despite weather-related claims costing around PLN 240 million. Total premiums and claims reserves reached PLN 8.4 billion, up 4.3% from 2024. PZU remains one of Central and Eastern Europe’s largest financial groups, with a strong presence in Poland and Ukraine.
