The new president of Compensa prepares for battle

Franz Fuchs is to become the president of two insurance companies belonging to Compensa on October 1. The new head is tasked with placing the insurers among the national top ten. One factor working in his favor is that the value of the insurance market is expect to rapidly grow over the coming years, and it is this growth that Fuchs hopes will catapult his company upwards. Up to now the company has been focusing on internal problems and restructuring, which resulted in the merger of insurance companies Compensa and Heros, under the Compensa brand name. "Up to now we collected non-life insurance premiums amounting to zł. 156 million, and this will reach zł. 260 million by the end of this year. We will record a positive financial result in two years. Our life insurance company recorded contributions of zł. 47.3 million, and will reach over zł. 64 million by year's end," said Fuchs. The life insurance company is expected to post its first profit in about four to five years time. (Puls Biznesu, p. 7) A.K.