Wiener Stadtische adds Benefia to its holding

According to Puls Biznesu, Wiener Stadtische an Austrian insurance group, which controls Compensa, has purchased Polish companies which belonged to Benefia, formerly known as FIAT Ubezpieczenia. The non-life insurer, which is a part of Italy's Toro Targa Assicurazioni, is among the second top ten on the Polish market. "The agreement has not been signed yet, and negotiations are still in progress. But as for now, it is all heading in the right direction," revealed Halina Maj, a member of Benefia's management board. The Austrian counterpart did not want to comment on the news. The acquisition on the Polish market might gain in value as Wiener Stadtische is acquiring shares in Compensa from German co-shareholder HUK-Coburg. Thanks to this move the Austrian group will control 99.86% of the non-life division and 100% of the life insurance division in Compensa. (Puls Biznesu, p. 10)