Poland

In Poland the Vienna Insurance Group now operates with six different brands. In 2007, the size of Compensa, InterRisk, Benefia, Royal Polska, TU PZM and FinLife for the first time made Poland a separate geographic segment on the consolidated financial statements of the Vienna Insurance Group.

TU Compensa S.A., VIENNA INSURANCE GROUP
TU na Życie Compensa S.A.,
VIENNA INSURANCE GROUP
Compensa Non-Life and Compensa Life provide service to the Polish market with a nationwide distribution network of more than 140 branches and more than 2,600 agents.

Compensa Non-Life is one of the top 10 insurers in Poland in both motor vehicle liability and motor vehicle collision insurance. In cooperation with leasing companies, banks, brokers and agents, Compensa Non-Life also promotes household, homeowner and credit insurance. Compensa Life above all markets traditional and index-linked life insurance with regular premium payments. Moreover the company is continuing to concentrate on the expansion of single-premium products through bank distribution channels.

Benefia TU Majątkowych S.A., VIENNA INSURANCE GROUP
Benefia TU na Życie S.A. VIENNA INSURANCE GROUP
Benefia Non-Life and Life have been part of the Vienna Insurance Group since 2005. Both companies cooperate closely through the use of joint offices.

Benefia Non-Life primarily operates in the motor vehicle insurance class. This insurer specializes in distributing its products through cooperative arrangements with a large number of car dealers. Benefia Leben distributes traditional life insurance products with regular premium payments as well as single premium policies. The company does so by means of cooperative agreements with a number of regional banks. Benefia Life also offers company financial security plans in the form of group life insurance policies.

Royal Polska TU na Życie S.A., VIENNA INSURANCE GROUP
Royal Polska is a successful life insurance company, concentrating, in addition to traditional life insurance, on index-linked life insurance products in both the individual and group insurance segments. The company is represented throughout Poland by the Royal Dystrybucja distribution company and its approximately 300 agents.

TU InterRisk S.A.
Since February 2008, the Polish non-life insurer TUiR Cigna STU S.A. has been operating in the Polish insurance market under the new company name TU InterRisk S.A.

As a non-life insurer focussing on non-motor vehicle classes, the company optimally complements the Vienna Insurance Group’s portfolio. Driving growth are household, homeowner, credit and casualty insurance.

TU Polski Związek Motorowy S.A., VIENNA INSURANCE GROUP
In March 2007, the Vienna Insurance Group acquired a majority interest in TU Polski Związek Motorowy S.A. (TU PZM). By doing so, the Vienna Insurance Group made a significant expansion of its distribution capacity in Poland. The Polish Automobile Association (PZM) possesses a sizable network of business offices, bureaus and repair shops throughout Poland. This will enable the Vienna Insurance Group to intensively exploit the great market potential.

FinLife TUnZ S.A.
At the end of 2007, the Vienna Insurance Group ac quired a 100% interest in life insurer FinLife TUnZ S.A. (FinLife)*. With the acquisition of FinLife, the Vienna Insurance Group will be able to strengthen its distribution network in Poland and further exploit its market potential in life insurance as well.

* subject to approval of authorities