Wiener Stadtische opened branch office in Montenegro - License for 24th country in Europe

Wiener Stadtische has got the license to sell life insurance in Montenegro. In that way, the Austrian insurance group has continued its network expanding strategy and it is now present in 24 countries of central and east Europe, including Serbia.

- With the population of 670,000 citizens, Montenegro is among smaller markets in the region, but its insurance market shows a high potential for development. This is illustrated by the market indexes: insurance density (annual premium per capita) amounts to EUR 95, while the insurance share (the share of premiums in the gross national product in percents) is about 1.8% - reads the statement of Wiener Stadtische Insurance.

For the sake of comparison, the insurance share in 15 countries of the European Union in 2008 amounted to 8.7%, while the insurance density was over EUR 2,500.