VIG Bolsters Polish Market Dominance with Strategic Investment in Leading Financial Broker

VIG Bolsters Polish Market Dominance with Strategic Investment in Leading Financial Broker

(IN BRIEF) Vienna Insurance Group is strengthening its market position in Poland through a strategic investment in Phinance, a leading financial broker with an extensive network of customers and consultants. This move comes on the heels of the 2024 merger of VIG’s three life insurance companies, which led to the creation of Vienna Life, now the fourth-largest life insurer in Poland. By acquiring a 48.82% stake in Phinance—a transaction approved by the Polish Office for Competition and Consumer Protection and finalized on 13 March—VIG aims to enhance its diversified sales strategy. The acquisition not only provides access to a robust consulting and sales model but also leverages VIG’s established expertise in insurance products and its prominent position in the Central and Eastern European region. Alongside Vienna Life, VIG’s operations in Poland extend to other segments including non-life insurance, digital insurance, and pension funds, reinforcing its comprehensive presence in the market.

(PRESS RELEASE) VIENNA, 19-Mar-2025 — /EuropaWire/ — Following the merger of its Polish life insurance companies in the autumn of 2024, Vienna Insurance Group (VIG) is further solidifying its foothold in the local market by investing in Phinance, one of Poland’s largest financial brokers. This strategic move will grant VIG access to an expansive network of customers and consultants, fueling its growth trajectory in Poland. In October 2024, VIG had already streamlined its operations by merging three of its life insurance companies to create “Vienna Life Towarzystwo Ubezpieczeń na Życie S.A. Vienna Insurance Group” (Vienna Life), now recognized as the fourth-largest life insurer in the country. With an emphasis on profitable expansion and agile business development, Vienna Life is now set to amplify its market presence through this acquisition.

Harald Riener, a member of VIG’s Managing Board and chairman of the Vienna Life Supervisory Board, commented on the acquisition, stating, “This transaction will strengthen our diversified sales strategy and open up tremendous opportunities for both companies. Vienna Life will benefit from a well-established consulting and sales framework while offering its deep insurance expertise and leveraging the Group’s leading position in Central and Eastern Europe. This is a remarkable chance to further enhance the Vienna Life brand in Poland.” The deal, which saw VIG secure a 48.82% stake in Phinance, was approved by the Polish Office for Competition and Consumer Protection (UOKiK) and was finalized on 13 March.

Phinance is renowned not only for its prowess in insurance sales but also for its expertise in financial consulting and in the distribution of investment and credit products. In addition to Vienna Life, VIG’s portfolio in Poland includes Compensa Non-Life, InterRisk, digital insurer Beesafe, and the pension fund Vienna PTE, underscoring its broad-based commitment to the Polish market.

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SOURCE: Vienna Insurance Group