Compensa Non-life and Compensa Life share a nationwide distribution network of more than 100 branch offices and more than 3,000 agents and brokers in the Polish market.
Compensa non-life is one of the Top 5 companies on the Polish motor vehicle insurance market, and has significantly outgrown the market in this segment. Growth in the motor vehicle own-damage business was a major factor in the increase in the company’s premium income. In addition to the motor vehicle business, Compensa Non-life is also promoting the distribution of household and homeowner insurance through brokers and agents.
In the second half of the year, Compensa life merged with the life insurance company FinLife. The company has been operating on the Polish insurance market under the brand name Compensa Life since that time. Compensa Life distributes both individual and group policies, and uses its own marketing company, Vienna Finanse, to distribute its products.
The Benefia Group operates as a composite insurer on the Polish insurance market. Benefia was awarded the position of 2nd best insurance company in a ranking of the best insurance companies conducted by the “Rzeczpospolita” daily newspaper, thereby moving up an outstanding 12 places in the ranking as compared to the previous year.
Benefia Non-life operates primarily in the motor vehicle insurance segment, and successfully distributes its products by means of cooperative distribution arrangements with a number of automobile dealers, as well as through brokers and agents. Benefia Non-life further increased its premium volume in 2008 through new cooperative arrangements with automobile dealers and the successful distribution of its products over the internet. Benefia Non-life is one of the Top 10 insurance companies in the motor vehicle own-damage business.
Benefia Life acquired the portfolio of Royal Polska in the second half of the year. As a result, Benefia life is now one of the ten largest life insurers in Poland. The company distributes traditional life insurance products with both regular premium payments and single premiums, and uses cooperative arrangements with a number of regional banks to distribute its insurance products.
The Polish non-life insurance company TUiR Cigna STU S.A. has been operating in the Polish insurance market under the new company name TU InterRisk S.A. since February 2008. The company has been operating successfully in the Polish insurance market for 15 years. As a non-life insurance company, it provides an optimal complement to the Vienna Insurance Group’s portfolio in Poland.
The Polish company InterRisk operates successfully in both the motor vehicle and non-motor vehicle segments and significantly outgrew the market in the year just ended. Its insurance products are primarily distributed through more than 2,500 agents and brokers. InterRisk’s license was expanded to include all insurance segments this year, and the company now offers its customers additional products in the own-damage segment for rail vehicles and own-damage and liability insurance for the marine segment.
At the start of 2007, the Vienna Insurance Group acquired a majority interest in TU PZM, which thereupon developed over the course of 2008 into a top newcomer on the Polish insurance market. The company is particularly successful in the motor vehicle insurance business. 90% of TU PZM’s product portfolio consists of motor vehicle liability and own-damage products. In addition to motor vehicle insurance, the company is also promoting roadside assistance insurance and other non-life products such as household and casualty insurance.
The PZM automobile association’s nationwide network of branches, offices and workshops is available for distribution. In addition, distribution through agents was increased in the year just ended, with more than 3,000 agents now active in the Polish market for TU PZM. TU PZM was not yet included in the scope of consolidation of Vienna Insurance Group in 2008.
