The take-over of the majority stake in the Lodz-based Polish insurer brings in its wake investments to strengthen the equity capital required to establish Polonia’s market position, particularly in the growth market of life insurance. A further focus of the coming months will be on the creation of a sound basis for continuous growth and improving results.

UNIQA’s close partnership with Polonia not only provides financial support but also the protection and size of a Central European insurance group. Herbert Schimetschek, Chairman of UNIQA Versicherungen AG believes “to have found a partner whose employees with all their expertise can guarantee a growth potential in a successful future. Dr Lech Michalik, Polonia Chairman adds, “This new partnership is a safeguard for our stability, innovation, and quality standards for the benefit of our customers”.

UNIQA Group Austria
With a total premium volume of ATS 34,500 million (EUR 2,510 million/ PLN 9,860 million) and approx. 6,500 employees managing a portfolio of  6,2 million contracts UNIQA is one of the leading insurance groups in Central Europe. In the yea r 2000, the capital investment of the group reached  ATS 143,300 million (EUR 10,410 million/PLN 40,940 million). UNIQA is a group formed by two traditional Austrian insurance companies, Bundesländer Versicherung and Austria-Collegialität, which merged in 1999. All the international activities of the group are coordinated by UNIQA International Versicherung-Holding, a 100% sister of the listed company UNIQA Versicherungen AG. UNIQA Group Austria has long experience in the Central and Eastern European insurance market and is represented not only in Austria but also in seven other European countries (Czech Republic, Slovakia, Croatia, Switzerland, Italy, Spain and Liechtenstein).

The acquisition of POLONIA’s share majority has a considerable effect on the internationalization of UNIQA Group Austria’s core business. Entering the important and promising Polish market has been the most important international investment in UNIQA’s history. Last year, UNIQA acquired the share majority in “Carnica Assicurazioni” and founded a branch office of UNIQA Personenversicherung AG in Milan. In the medium term, the share of UNIQA’s premium income coming from international business is expected to reach 15%.

POLONIA  
POLONIA was founded in 1990 as the first private insurer in Poland. The total premium volume of “POLONIA non-life” amounts to approx. PLN 278 million (ATS 973 million/EUR 70.71 million), its market share being 2,5%. The core business of POLONIA non-life is motor insurance, since this is the dominant insurance line in Poland.

Products are sold by 58 independent branch offices, which supply 570 general agents and 2700 free-lance sales representatives. “POLONIA non-life” and “POLONIA life” are currently the only Polish insurers working through such distribution channels.

The Management Board of Polonia S.A. and Polonia Zycie S.A.:
Lech Michalik (Chairman)
Wojciech Kopecae
Malgorzata Michalak-Bartowiak
Felix Wieser   

The Supervisory Board of Polonia S.A.:
Herbert Schimetschek, Chairman of UNIQA Versicherungen AG (Chairman)
Johannes Hajek, Member of the board of UNIQA Versicherungen AG
Manfred Schuster, Managing Director of UNIQA International Versicherungs-Holding GmbH
Szczepan Milosz, Honorary Consul of Austria
Zdzislaw Marchwinnski,  Director of the Lodz Representative Office

The Supervisory Board of Polonia Zycie S.A.:
Herbert Schimetschek, Chairman of UNIQA Versicherungen AG (Chairman)Johannes Hajek,  Member of the Board of UNIQA Versicherungen AG
Manfred Schuster, Managing Director of UNIQA International Versicherungs-Holding GmbH
Agnieszka Sardecka, President of PRASA POLSKA, Lodz Representative Office
Jerczy Wirlgórecki, Director of the Konin Representative Office