Acquisitive players

Austrian insurance companies have a strong presence in Poland's finance and insurance market, and belong to some of the most active in in the country when it comes to acquisitions.

One example is Wiener Städtische Versicherung AG, known in Poland as Vienna Insurance Group. The company, which has activities throughout Central Europe, has taken over several Polish insurance companies since first coming to Poland. It entered the Polish market when it acquired a 71-percent stake in Polish insurer Heros in 1998. That firm was absorbed into the group after the takeover, but shortly after the acquisition a Heros official was quoted as saying that being owned by an Austrian firm "gives the guarantee of modernity, security and professionalism."

Wiener Städtische is also the strategic shareholder of Polish insurance heavyweight the Compensa Group, which was established in 1990. Compensa describes the relationship with Wiener Städtische thusly: "Our shareholder's support and experience in the foreign market allows [us to] work [at a] European standard and makes us one of the strongest [firms] in the Polish insurance market."

Wiener Städtische also possesses a majority stake in Benefia, PZM, Cigna and life insurance firm Royal Polska and FinLife, all of which are players on Poland's insurance market. With all of these entities under its auspices, Wiener Städtische placed fifth in terms of market share in Poland with 5.9 percent in 2006.

Another Austrian insurance in Poland's market is Uniqua. One of Uniqua's founders, Raiffeisen Bank, is a significant player on Poland's financial market in its own right. Uniqua started its activities in  Poland in 2001, when it took over Polish insurance company Polonia. Uniqua also bought competitor Filar in 2005.

Other Austrian players on Poland's insurance market include Generali Holding Vienna, Coface Poland and Lutz Assekuranz-Makler.