POLAND: the Aegon, Compensa Życie and Vienna Life merger will give birth to a one of the largest life insurers

11 April 2024 — Daniela GHETU

The new company resulting after the Aegon, Compensa Życie and Vienna Life merger planned for Q4 2024, will operate under the name Vienna Life. While preserving the name of one of the merging companies, the new market entity will go through a complex rebranding operation.

"The combination of our three companies gives us new, greater opportunities to grow our business and offer the best possible solutions to our customers and partners. As part of our business strategy, we have a plan for profitable, sustainable and developmental operations. At the same time, we will be the only life company representing our owner on the Polish market. The brand of the future company is to best reflect our ability to adapt, our ambitions and the group's goals. We are ready to meet these challenges with determination and professionalism," Tomasz Borowski, CEO of Vienna Life and candidate for CEO of the merged companies, commented for the Polish magazine Gazeta Ubezpieczeniowa.

After the merger, the new Vienna Life will become one of the largest players in the life insurance market with a broad portfolio of products and services. According to 3Q2023 results, the new market player will gather a market share slightly exceeding 9%, thus securing the 4th position in the life insurance market’s ranking.