Locked content PZU with PLN 940 mln attrib. net profit in Q1

WSE-listed insurer PZU posted a PLN 940 million net profit for Q1, a 91,1 percent increase y/y. The impressive result comes from better investment results, its car insurance business and a mild winter which meant less compensation for farmers, the company said in a market filing. Gross written premi...

Locked content KNF approves new PZU CEO

Financial market regulator KNF approved Paweł Surówka for the post of the WSE-listed insurer PZU CEO. Surówka replaced Michał Krupiński, who was dismissed back in March. Previously, Surówka has been the CEO, of PZU subsidiary, PZU Życie. Surówka was appointed to the post on April 13, but his candida...

Locked content PZU, PFR to finalize Pekao purchase on June 7

WSE-listed insurer PZU and state-owned development fund PFR will finalize the purchase of a 32.8 percent stake in WSE-listed bank Pekao from Italy’s UniCredit on June 7, PZU said in a market filing. Back in 2016, Polish insurer PZU and Polish Development Fund PFR agreed to buy 32.8 percent of ...

Locked content PZU plans no new banking acquisitions

Poland’s largest insurer PZU is not planning any new acquisitions in the banking sector, however its banking units might be, company’s CEO Paweł Surówka said in an interview with the Polish Press Agency (PAP). “At this stage of our development, we have satisfied our appetite for acquisitions i...

Locked content PZU, PFR with KNF approval for Pekao takeover

Financial market watchdog KNF has approved the purchase of Pekao by PZU and PFR, which clears the last obstacle to finalize the transaction. The buyers want to finalize the deal in early June, just in time to qualify for the banks’ dividend, set at PLN 8.58 per share. Back in 2016, Polish insurer PZ...

Locked content PM Szydło: I control PZU

Prime Minister Beata Szydło said at the press conference that she took a “direct control” over Poland’s biggest insurer PZU. “Supervision of the firm is conducted by me,” Szydło said. “I’ve determined that for the good of the firm it will be beneficial,” she added. The company as a finan...

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 ...