ZAGREB ZAGREB, April 28 (Hina)- The largest Austrian insurance corporation BARC, opened a new insurance house in Croatia - Austrian Insurance which will officially begin to retail its first policies no later than September this year.
The company's founding capital will amount to 40 million kuna which is twice the amount required by Croatian law, said the Director-General of BARC, Herbert Schimetschek at a press conference held in Zagreb Wednesday. The company will offer the Croatian public a complete range of insurance packets, he said. Asked whether it was wise to invest in Croatia considering it was the 26 th insurance company on Croatia's market, Schimetschek said that it was difficult to predict the right moment to enter a market however, BARC wishes to assist with the development of the economy by offering a high quality service. The BARC concern was established in 1997 with the merger of two of Austria's largest insuran
ZAGREB, April 28 (Hina)- The largest Austrian insurance
corporation BARC, opened a new insurance house in Croatia -
Austrian Insurance which will officially begin to retail its first
policies no later than September this year.
The company's founding capital will amount to 40 million kuna which
is twice the amount required by Croatian law, said the Director-
General of BARC, Herbert Schimetschek at a press conference held in
Zagreb Wednesday.
The company will offer the Croatian public a complete range of
insurance packets, he said.
Asked whether it was wise to invest in Croatia considering it was
the 26 th insurance company on Croatia's market, Schimetschek said
that it was difficult to predict the right moment to enter a market
however, BARC wishes to assist with the development of the economy
by offering a high quality service.
The BARC concern was established in 1997 with the merger of two of
Austria's largest insurance corporations - Bundeslaender and
Raiffeisen-Versicherung with Austria-Versicherung. The BARC
concern is the largest insurance concern in Austria and covers 21%
of the total number of insurance portfolios in the country.
BARC has branches all over Europe and in some transition countries
including the Czech Republic, Slovakia and Hungary.
hina sp