Grazer Wechselseitige Versicherung AG acquires 98.7% of Prime Insurance

14:52 - 21 May 2025

Companies

Grazer Wechselseitige Versicherung AG (GRAWE) has acquired 98.7% of the shares of Nicosia-based Prime Insurance Company Ltd, subject to regulatory approvals.

This marks GRAWE’s first entry into the Cypriot market as an insurance provider. Through this investment, GRAWE expands its footprint in Southeastern Europe and broadens its international portfolio by entering another high-potential market.

Prime Insurance Company Ltd is a well-established composite insurance company, offering both life and general insurance products. Founded in 1999, it has maintained a strong nationwide presence across Cyprus and has shown significant business growth. The company is widely recognised for its customer-centric approach, offering a wide range of insurance products tailored to the needs of both individuals and businesses.

Grazer Wechselseitige Versicherung AG is an Austrian insurance company with more than 195 years of experience in the sector. With Prime Insurance Company Ltd becoming its 19th insurance subsidiary, and with operations in 13 countries across Central, Eastern, and Southeastern Europe, the historic company sends a clear message regarding its sustainable international expansion strategy.

Headquartered in Graz, Austria, Grazer Wechselseitige Versicherung AG offers a comprehensive range of insurance products and financial services. Known for its stability, reliability, and long-standing expertise, GRAWE continues to pursue a growth strategy focused on customer value and geographic diversification.

Grazer Wechselseitige Versicherung AG acquires 98.7% of Prime Insurance

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