VIG and C-Quadrat launched a joint venture investment fund company in Poland

24 August 2021 — Andrei Victor
Austrian insurer Vienna Insurance Group announced in a statement it launched together with C-Quadrat Investment Group a joint venture investment fund company in Poland: VIG / C-QUADRAT TFI S.A.

The shareholders of VIG / C-QUADRAT are the VIG Group companies in Poland (Compensa, InterRisk, Wiener and Vienna Life) and the largest Austrian private asset manager C-Quadrat Investment Group. In total, the VIG Group owns 51% of the shares of the newly formed company and the C-Quadrat Investment Group 49%.

"On 20th August 2021 VIG / C-QUADRAT TFI S.A. has been authorized by the Polish Financial Supervisory Commission (KNF) to carry out the activities of setting up and managing investment funds, including brokering the sale and redemption of units, representing them against third parties and asset management services".

The Warsaw-based company was established in May 2020 as a joint venture between Vienna Insurance Group and C-Quadrat Investment Group. In the first stage of development, the company was built from scratch including its team, product offer and operational part. Having obtained its license, the company is now about to launch its first fund and asset management service and start of full-scale operations. In the first period, VIG / C-QUADRAT will offer its customers investment funds under two umbrellas. The available product range will include both funds with conservative investment policies and those based on equity markets and foreign funds.

Harald RIENER, Chairman of the Supervisory Board of VIG / C-QUADRAT TFI S.A. and Member of the Management Board of Vienna Insurance Group emphasizes: "Poland is our third largest market and is one of the top 5 markets in our current "VIG 25" strategy program with above-average growth, from which we want to profit with further innovative customer solutions. The new investment fund company therefore fits very well with the VIG Group's current strategy in Poland. Our customers are increasingly looking for investment and savings products. The new fund company, thanks to interesting and modern investment products, will allow to meet these needs."

Andreas WIMMER, Member of the Management Board of C-Quadrat Investment Group and Vice Chairman of the Supervisory Board of VIG / C-QUADRAT, comments on the KNF decision: "C-Quadrat Group's many years of experience in the areas of sustainability, ESG and impact investments, as well as in quantitative asset management, will enable the new company to offer Polish investors new and innovative investment products. We are excited to be able to start operationally now!"

Vienna Insurance Group has been represented in Poland since 1998 and is the fourth largest insurance group with a market share of 8.5%. The five Polish insurance companies in the VIG Group generated a premium volume of approximately EUR 1.2 billion in 2020, making them the third-largest market for the VIG Group after Austria and the Czech Republic.

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