Vienna Insurance Group in Poland - Acquisition of life insurer Skandia Poland completed
The Vienna Insurance Group AG Wiener Versicherung Gruppe has acquired 100 percent of shares in the life insurance company Skandia Zycie TU S.A. (Skandia Poland). After granting of the regulatory approvals, the transaction has been concluded.
In 2013 Skandia Poland recorded premiums written of around EUR 95 million, making it the number 17 on the Polish life insurance market. Compared to the previous year, this represents an increase in local currency of approximately 3.8 percent. Skandia Poland has been operating on the Polish market for more than 14 years and sells its products – primarily unit-linked life insurance policies – particularly through financial intermediaries such as banks, insurance brokers and insurance platforms. The insurer employs about 150 members of staff.