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Compensa Vienna Insurance Group

According to "Verslo žinios" : Compensa Vienna Insurance Group has become a leader in the Lithuanian financial sector in 2021

In 2021 Compensa Vienna Insurance Group became the leader of the Lithuanian financial sector - according to Verslo žinios, it performed best in terms of pre-tax profit, income, their annual change, pre-tax profitability, average salary, change in return on assets, and other indicators. The leadership position means that Compensa Vienna Insurance Group, with its rapid growth, has also ensured financial sustainability, been a reliable partner and increased the circle of loyal customers, expanded the basket of insurance products and better responded to customer needs, building a dedicated and result-oriented team.

We belong to Vienna Insurance Group

Over 25,000 employees work for Vienna Insurance Group, at around 50 companies in 30 countries. We develop insurance solutions in line with personal and local needs, which has made us the leader in the insurance industry in Austria and Central and Eastern Europe (CEE).

“We focus on providing our customers in Austria and CEE with custom products and services tailored to their needs. Our strategy is geared towards long-term profitability and steady earnings growth, making us a reliable partner in rapidly changing times."




History

Compensa Vienna Insurance Group is a joint-stock insurance company registered in Lithuania. January 1 started operations in the Baltic States. Until 2016 The Lithuanian branch of the Polish non-life insurance company Compensa TU SA Vienna Insurance Group operated in Lithuania and has been operating in Lithuania since 2010. As the company grew and expanded its operations in the Baltic region, structural changes were made and the Lithuanian branch of Compensa TU SA Vienna Insurance Group transferred its business as a set of assets, rights and liabilities to a new joint-stock insurance company -  Compensa Vienna Insurance Group.

Merger

In 1st of July in 2020 the non-life insurance companies Seesam Insurance and Compensa Vienna Insurance Group operating in the Baltic States have completed the merger and become one company. From now on, the company operates in Lithuania and Latvia under the Compensa Vienna Insurance Group brand, and in Estonia under the Seesam Insurance brand.

Insurance services

In Lithuania, life and non-life insurance services are offered by the following companies:

  • Joint-stock insurance company Compensa Vienna Insurance Group
  • Lithuanian branch of Compensa Life Vienna Insurance Group SE

Lithuania, Latvia, Estonia

Compensa Vienna Insurance Group has  branches in Lithuania, Latvia and Estonia.

Today, Compensa Vienna Insurance Group operates in 45 Lithuanian cities. About 390 specialists of the company working in the country provide consultations and services to private clients on transport, property and personal insurance issues every day. Together with business clients, we take care of the protection of their property - from small and medium to corporate -, transport, cargo, general liability, construction and suretyship insurance.

The needs of Latvian customers are taken care of by 310 employees of Compensa Vienna Insurance Group in 40 sales and consulting locations throughout the country. We are located in one office in Estonia, and 180 employees take care of customer consultations and insurance.

Every specialist working in the Baltic States uses the experience gained in 25 Central and Eastern European markets - knowledge and diversity allow us to be closer to our customers and their needs. Every day, we share experiences, knowledge and ideas in a group. One of the factors in our success and core value is diversity. Therefore, our employees are well aware of the needs of local customers.

There is a unified compensation system created by the company in all Baltic countries - customers can apply to any branch operating here for compensation.

Expertise & Stability

Compensa Vienna Insurance Group  is part of the Vienna Insurance Group (VIG). Over 25,000 employees work for Vienna Insurance Group, at around 50 companies in 30 countries. We develop insurance solutions in line with personal and local needs, which has made us the leader in the insurance industry in Austria and Central and Eastern Europe (CEE).

Compensa Vienna Insurance Group started its activities in Lithuania and other Baltic countries as an independent insurance company in 2016. January 1 Until then, the Lithuanian branch of the Polish non-life insurance company Compensa TU SA Vienna Insurance Group operated in Lithuania.

Strong Finances & Credit Rating

Vienna Insurance Group has an A+ rating with stable outlook from the well-known rating agency Standard & Poor’s, meaning that it remains the top-rated company on the Vienna Stock Exchange’s index of leading shares, the ATX. The Vienna Insurance Group is listed in both Vienna and Prague. Wiener Städtische Versicherungsverein – a stable core shareholder with a long-term focus – owns around 70% of VIG’s shares. The remaining shares are in free float.

Local Market Presence

For Vienna Insurance Group, protecting customers financially against risk is a responsibility. The Group pursues a multi-brand strategy based on established local brands as well as local management. Ultimately, the Group’s success and closeness to its customers is down to the strengths of each individual brand and local know-how.

Focus on Central and Eastern Europe

Vienna Insurance Group pays a lot of attention not only to the markets of Austria, but also to the markets of Central and Central Europe. More than half of the Group's written contributions are generated in Central and Central European countries. The Vienna Insurance Group's operations in this region primarily reflect economic growth forecasts, which are expected to grow twice as fast as in Western Europe. In addition, insurance coverage in Central and Central European markets is lower than the EU average.

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