Slovakian VIG company Kooperativa enters pension fund business

Written by Adam Cadle

18/01/2023

Kooperativa poist'ovňa, part of Vienna Insurance Group (VIG), has purchased 100% of the shares in 365.life d. s. s. operated by 365.bank in Slovakia.

The takeover is part of Vienna Insurance Group’s VIG 25 strategy programme to intensify and expand its pension fund business. The acquisition has already been approved by the National Bank of Slovakia.

By taking over the Slovakian pension fund company 365.life, Kooperativa is expanding its range of services to include occupational pension provision in Slovakia. This will enable customers of Kooperativa and 365.life to benefit from a wider range of products and services in the future. 365.life was previously part of the 365.bank Group and has many years of experience in the investment of savings on the financial and capital markets. The company has a market share of around 5% and manages the pension funds of approximately 125,000 customers, with a total volume of more than €500m.

Kooperativa has been active on the market for 32 years. It was the first private all-line insurer in Slovakia and the company with which Vienna Insurance Group first began its expansion strategy in autumn 1990. Kooperativa has a market share of approximately 25%, servicing around 1.5 million customers. In 2021, the company generated a premium volume of €621m.

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