Domestic insurer Cigna STU proves premium target for foreign investors

The company controlled by famous Polish businessman Aleksander Gudzowaty and his son, is an attractive target for foreign investors in the sector who want to increase their engagement in Poland. Cigna has collected zł.163.1 million in premiums in H1 this year, making it the eighth-largest non-life insurance company in Poland with a market share of almost 2%. The investor with the best chances of closing the acquisition is Wiener Staedtische, which has already taken over three domestic companies this year. Although representatives of Cigna admitted they have received several purchase offers, they also announced they are not planning to sell the enterprise. However this might only be an issue of price as market rumors are that Cigna owners expect as much as euro 200 million for the insurer - several times more than offered by the investors. (Parkiet, p. 1) A.K.