Following the merger of the Polish life insurance companies belonging to Vienna Insurance Group (VIG) in autumn 2024, VIG is taking the next step to strengthen its local market positioning by acquiring a stake in Phinance – one of Poland's largest financial brokers.

This way VIG gains access to its extensive customer and advisor network, thereby further driving its growth in the Polish market.

In October 2024, VIG joined forces in the Polish market and, by merging its three life insurance companies, formed the fourth-largest life insurer under the name "Vienna Life Towarzystwo Ubezpieczeń na Życie SA Vienna Insurance Group" (Vienna Life). Vienna Life is focused on profitable growth and dynamic business development – ​​a strategic positioning that will now be further accelerated.

Harald Riener, VIG Managing Board Member and Chairman of the Supervisory Board of Vienna Life, commented on the acquisition of the stake in Phinance: “The transaction strengthens our diversified sales strategy and offers significant opportunities for both companies: Vienna Life gains access to a well-established advisory and sales model and, in return, contributes its in-depth knowledge of insurance products and the Group's strength as the number one in the CEE region. This represents a fantastic opportunity to advance the development of the Vienna Life brand in the Polish market.”

Phinance specializes not only in insurance distribution, but also in financial advisory services and the distribution of investment and credit products. The acquisition of 48.82% of the company was approved by the Polish Office of Competition and Consumer Protection (UOKiK) and finalized on March 13.

In addition to the life insurer Vienna Life, the VIG Insurance Group is represented on the Polish market with Compensa Non-Life, InterRisk, the digital insurance broker Beesafe and the Pensionkasse Vienna PTE.