C-Quadrat Investment AG (C-Quadrat) and the Polish insurance companies of the Vienna Insurance Group have founded "VIG C-Quadrat" with headquarters in Warsaw. The plan is to offer investment services and investment funds in Poland. C-Quadrat Investment AG holds 60% of the joint venture company, while 40% are held by the five Polish VIG Group companies Compensa Non-life and Life, InterRisk, Vienna Life and Wiener.
The very positive economic development in recent years, the high potential of one of the largest EU member states with 38 million inhabitants and the dynamic development of the demand for investment products are some of the reasons for the joint establishment of the company in Poland.
The Vienna Insurance Group (Wiener Versicherung Gruppe) has been represented in Poland since 1998 and is the fourth largest insurance group with a market share of 8%. The five Polish insurance companies of the VIG Group generated a premium volume of more than EUR 1.1 billion and a profit of just over EUR 69 million in 2019. Poland is thus the third largest market for the Vienna Insurance Group in terms of both premiums and earnings, after Austria and the Czech Republic.
C-Quadrat Investment AG is an Austrian group of several independent asset management companies, which was founded in Vienna in 1991. Today, CQ Investment Group has offices in Vienna, Paris, Frankfurt, Madrid, Zurich, Geneva and Yerevan and is active in more than 20 countries across Europe and Asia, managing a total of around EUR 7 bln of assets.
The Company is in the formal application process to get a permit from the Polish Financial Supervision Authority (Komisja Nadzoru Finansowego) to perform activities for the Investment Fund Company (TFI).