New division of labor for Wiener Stadtische's subsidiaries

Wiener Stadtische, which operates abroad as the Vienna Insurance Group, owns five insurance companies in Poland: TU Compensa, TUnŻ Compensa, Benefia TU Majątkowych, Benefia TUnŻ and Royal Polska TUnŻ and will soon add another one to the group, namely TUiR Cigna STU. "We expect that the transaction will be finalized within several days, as soon as we receive consent from the Office for Competition and Consumer Protection (UOKIK)," declared Franz Fuchs, the president of Compensa group. He stated that Wiener Stadtische does not intend to merge the companies and wants to allocate a segment to each of them in which they are to develop. TU Compensa is to provide services for individual customers, small and medium-sized companies and corporations,  Benefia TU Majątkowych is to concentrate on the sale of car insurance, while Royal Polska TUnŻ is to focus on bancassurance services. (Parkiet, p. 7) E.B.