Exploitation of synergies
Over the course of 2008 the Polish V.I.G. companies Royal Polska and Benefia Life were merged, enabling the Vienna Insurance Group to have a uniform market presence in the life insurance segment. In the future, the merged companies, under the common trade name Benefia Life, will distribute their products throughout the country using bank cooperation agreements. This will make Benefia Life an even more attractive partner for banks and alternative distribution partners.
At the end of April, the acquisition of 100% of the shares of FinLife was successfully concluded, upon receipt of official approval. In the second half of 2008, FinLife was merged into Group company Compensa to take advantage of synergy effects and ensure a uniform market presence for the Vienna Insurance Group on the Polish life insurance market.
V.I.G. Poland is now represented by six insurance companies on the Polish market:
- TUnZ Compensa S.A. Vienna Insurance Group
- TU Compensa S.A. Vienna Insurance Group
- Benefia TUnZ S.A. Vienna Insurance Group
- Benefia TU S.A. Vienna Insurance Group
- TU InterRisk S.A.
- PZM TU S.A. Vienna Insurance Group
