Vienna Insurance market share down in 2014
14:54
The Polish branch of Vienna Insurance Group reported a decline of gross premiums written to PLN 4.56 billion in 2014 from PLN 5.22 billion in 2013 and the company's market share fell from 9 percent in 2013 to 8.3 percent last year, the company announced.
Currently the group is the fourth biggest insurer on the Polish market.
"The Polish insurance market is growing twice as fast as the Austrian market," said Peter Hagen, CEO of the company.
"We can expect an increase in our market share. We want to grow through all the possible [channels] in Poland. We've expressed repeated interest in growing through acquisitions," he added. Vienna Insurance Group is a majority shareholder of Benefia TU, Compensa TU, Compensa TU na Życie, InterRisk TU, Polisa-Życie TU and Skandia Życie Towarzystwo Ubezpieczeń.
