Locked content Talanx with €900 mln consolidated net profit in 2016

WSE-listed insurance group Talanx posted a €900 million net profit in 2016 (vs €734 million in 2015) according to the company’s preliminary financial results. “On the one hand, this results from lower than expected large losses in the Group. On the other hand, special tax effects have also con...

Locked content PZU to acquire Pioneer

Poland’s larger insurance firm PZU may become the biggest insurer on the Polish market after it takes over Pioneer Pekao Investments, according to a report released on Monday by Rzeczpospolita. The acquisition could increase the amount of assets under its management to PLN 67 billion. The move...

Locked content AIG to sell its Polish operations

American insurance company American International Group (AIG) is selling part of its business operations in Latin America and CEE to Canadian firm Fairfax Financial Holdings, Reuters reports. The cash value of the deal is estimated at $120 million. The change of ownership will impact operations in A...

Locked content AXA takes over Liberty Ubezpieczenia for over PLN 100 mln

AXA has finalized its acquisition of Liberty Ubezpieczenia, the firm announced. The value of the transaction is PLN 101.3 million (€23.5 million). “We guarantee all current clients of Liberty Ubezpieczenia that their contract conditions will not change. We will make every effort to ensure that the c...

FinMin: No rivals interested in Pekao takeover

“The Polish government favors a purchase of UniCredit’s Polish lender Bank Pekao by domestic insurer PZU, but the price must be fair,” Finance Minister Paweł Szałamacha announced during the Ambrosetti Forum on August 3.

Locked content Morawiecki: PZU not negotiating with UniCredit on Pekao takeover

Poland is not conducting any negotiations with Italy’s biggest bank UniCredit regarding acquisition of its Polish unit, and any potential deal must be done on market terms, Deputy Prime Minister Mateusz Morawiecki proclaimed. On Tuesday, Reuters, citing two sources, informed that PZU CEO Micha...

Locked content PZU CEO in talks with UniCredit on buying Pekao – Reuters

Michał Krupiński, the CEO of Poland’s biggest insurer, PZU, is flying to Milan for talks on buying Poland’s second-largest bank, Bank Pekao SA, from its owner, the Italian bank UniCredit, Reuters informed, citing two sources familiar with the matter. A Reuters’ source close to the ...

Locked content PZU negotiates with banks on buying assets – CEO

Poland’s biggest state-controlled insurer PZU is considering purchasing several banking assets, CEO Michał Krupiński announced on radio Jedynka. “Currently we are in talks over buying several other banking entities,” Krupiński said. “I would not comment on concrete transactio...