POLAND, VIG: Merger of InterRisk and PZM completed
The VIENNA Insurance Group (VIG) has concentrated its resources in the Polish non-life insurance market by merging the companies InterRisk and PZM. …As announced the Group, the merger is completed, following that “in the future the two non-life insurers will occur under the brand InterRisk and distribute their products nationwide. The distribution power of the two companies will be combined and amplified by the presence of the common brand across the country”.
“With the merger of two Group companies the VIENNA Insurance Group creates a strong non-life insurer in Poland. The concentration of market presence results in sales and back office synergies that we will use for the intensification of customer service. We are in the highly competitive Polish non-life market among the top 5 insurers. We will continue to expand our business in Poland through perfect customer service combined with modern insurance products”, explained Peter Hagen, General Manager, VIG.
The VIENNA Insurance Group has been active in the Polish insurance market since 1998. Following the merger, the group acts on the Polish insurance market through COMPENSA Life and Non-life, BENEFIA Life and Non-life and POLISA Life.
In the first quarter of 2012 InterRisk and PZM achieved premiums totalling just over EUR 80 million.