Austrian Vienna Insurance Group has got the Polish life insurer FinLife
27 December 2007Austrian Vienna Insurance Group (VIG) has got 100 % shares of the Polish company FinLife specializing in life insurance, from Suomi Mutual Life Assurance Company (Finland).
According to VIG’s president and general director Guenter Geyer, the given transaction will allow the group to expand sales network in Poland and to increase profit on activity in dynamically developing Polish segment of life insurance.
FinLife specializes in group annuity and term life insurance, and also is submitted in a bank insurance segment. The companies work in Poland through 15 branches. In 2006 FinLife has gained the premium at a rate of €20 millions, payments have made €13,6 millions.
Austrian group VIG is submitted in the Polish insurance market by 7 family by 7 companies. In the Polish segment of not - life insurance the group is submitted by companies Compensa, Benefia, Cigna and PZM. Companies Compensa Life, Benefia Life and Royal Polska, which also belong to VIG, work in a life segment.
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