Vienna Insurance Group plans to slash spending by 100 mln euros

Austrian insurance company, Vienna Insurance Group said it would cut costs by roughly 100 million euros (127 million dollars) this year.

The Romanian group companies of the Vienna Insurance Group has significantly strengthened the market position of the Vienna Insurance Group in Romania in 2008 with preliminary premiums of EUR 612.98 million, reads the preliminary report made public by the insurer in early January.

The group expects a consolidated profit before taxes of nearly 540 million euros for 2008, despite weak financial market performance in fourth quarter last year. VIG controls in Romania Omniasig, Omniasig Life Insurance and Asirom.

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