Locked content PZU with new CEO. Changes to the supervisory board

WSE-listed insurer PZU, named Paweł Surówka as its new CEO. Surówka replaced Michał Krupiński, who was dismissed back in March. Till now, Surówka has been the CEO, of PZU subsidiary, PZU Życie. Additionally, PZU appointed Aneta Fałek, Robert Śnitko and Katarzyna Lewandowska to the supervisory board,...

Locked content PZU gets anit-trust approval for Bank Pekao takeover

WSE-listed insurer PZU secured the anti-trust watchdog UOKiK’s approval to buy 32.8 percent stake in Bank Pekao, meeting one of the conditions for the deal to go through, PZU said in a market filing. PZU and state fund PFR paid PLN 10.59 billion for the stake. The last major hurdle required fo...

Locked content PZU-Pekao takeover deal approved by Ukrainian authorities

Polish insurer PZU along with Polish Development Fund (PFR) received consent of the Antimonopoly Committee of Ukraine to takeover the majority shares in bank Pekao. “The granting of the above-mentioned consent means that one of the conditions precedent for the acquisition of a significant block of s...

Locked content PZU appoints Marcin Chludzinski as acting CEO

Poland’s biggest insurer PZU appointed supervisory board member Marcin Chludziński as the company’s acting CEO for the period of three months, the company announced. “Taking into account in particular good practices of corporate governance of public companies, the aim of the supervisory board is to ...
Michał Krupiński

PZU sacks CEO

Poland’s biggest insurer PZU sacked its CEO Michał Krupiński, the company said in a market filing. The decision is effective immediately, while no reason for the decision was announced.

Locked content PZU plans PLN 3 bln bond issue

WSE-listed, Poland’s largest insurer PZU plans to issue up to PLN 3 billion subordinated bonds issue, pending shareholders approval. The potential issue would be a private one and could be placed on domestic or international markets depending on market conditions and demand. The lender commiss...

Locked content PFR will consider selling its Bank Pekao stake in 3-5 years

The Polish Development Fund (PFR) will consider selling its stake in Bank Pekao in three to five years, PRF CEO Paweł Borys told the Polish Press Agency (PAP) “Selling the entire 12.8 percent stake via the stock exchange and keeping a control stake at PZU, with the rest being in free-float, is a goo...

Locked content US-insurer with 5% stake in Pekao Bank

US insurance company Massachusetts Mutual Life has increased its stake in Bank Pekao to 5.35 percent making it the third biggest shareholder of the bank. The market filing did not specify how many stocks and when, the Massachusetts Mutual Life acquired, as listed companies in Poland are required to ...

Locked content PZU increases its share on the insurance market

Poland’s biggest insurer’s PZU market share in the insurance sector has increased to 33.3 percent (2.2 percent growth) in Q3 2016, according to data released by the Polish Financial Watchdog KNF. Five biggest Polish insurance companies control 58.93 percent of the market (2 percent q/q i...

Locked content Poland won’t privatize state firms anymore – Kowalczyk

Poland “will no longer privatize” state companies and will focus on “rebuilding assets,” cabinet minister Henryk Kowalczyk said. According to Kowalczyk, Poland will continue the nationalization of the banking sector through acquisitions, after the state-owned insurer PZU has acquired stakes in a num...