Vienna Insurance Group (VIG) is expanding its market presence in Poland with the acquisition of a 48.82% stake in Phinance, one of the country’s largest financial brokers.
Phinance specialises in insurance sales, financial consulting, and the sale of investment and credit products.
The acquisition was approved by the Polish Office for Competition and Consumer Protection (UOKiK) and finalised on 13 March.
Through this investment, VIG gains access to Phinance’s extensive network of customers and consultants, further strengthening its position in the Polish market.
This follows the merger of its Polish life insurance companies in October 2024, when VIG consolidated its forces by merging its three life insurance companies to form the country’s fourth-largest life insurer, Vienna Life Towarzystwo Ubezpieczeń na Życie S.A. Vienna Insurance Group (Vienna Life).
Beyond Vienna Life, VIG is active in the Polish market through Compensa Non-Life, InterRisk, digital insurer Beesafe, and the pension fund Vienna PTE.
Harald Riener, member of the VIG Managing Board and chairman of the Vienna Life Supervisory Board, said, “This transaction will strengthen our diversified sales strategy and offer great opportunities for both companies: Vienna Life will gain access to a well-established consulting and sales model while contributing its extensive knowledge of insurance products and the Group’s strength as the number one in the CEE region. It’s a great opportunity to advance the development of the Vienna Life brand in the Polish market.”
