Locked content PZU doesn’t plan on buying more bank assets – CEO

WSE-listed insurer PZU doesn’t plan any new acquisitions in the banking sector, but might be tempted to acquire other assets across the group if the investment opportunity arises, the PZU representatives said. “I do not think PZU wants to buy a new bank, but if it is a question of whether a group of...

Locked content PZU Q2 profit soars

WSE-listed, state-owned insurer PZU recorded a PLN 506 million consolidated net profit in Q2, up by 201.2 percent y/y, and down by 46.2 percent q/q. Gross written premium reached PLN 5.83 billion in Q2, up by 15.4 percent y/y. For H1, the gross written premium amounted to PLN 11.6 billion, which is ...

Locked content PZU expects PLN 200 mln in claims after last week’s storms

WSE-listed, state-owned insurer PZU has received 26k claims following storms last week so far, and estimates potential damages at around PLN 200 million, company’s CEO Paweł Surówka said. “We had estimated that the number of damage claims following the storms would exceed 30k and at this point, 26k ...

Locked content PZU expects over 30k claims after last week’s storms

WSE-listed, state-run insurer PZU expects the total number of claims filed in the aftermath of last week’s storm to “significantly exceed 30k,” the company said. So far the number of property and farm damage claims reached 16k, while the number of vehicle damage claims is in the 6k range. The compan...

Locked content PZU sells PLN 2.25 bln in 10Y subordinated bond

WSE-listed, state-owned insurer PZU sold PLN 2.25 billion in 10-year subordinated bonds at 180 bps over 6M WIBOR. They will be listed on the WSE-owned platform, either BondSpot or Catalyst. The papers will be callable in 5 years. The European Bank for Reconstruction and Development (EBRD) has invest...

Locked content PZU to sell PLN 2.25 bln subordinated bonds

WSE-listed, state-owned insurer PZU will sell PLN 2.25 billion in subordinated bonds maturing at 1.8 percent over 6M WIBOR. The bonds will mature in 2027. Pricing is in line with earlier reports. The issue was possible thanks to the law signed by President Andrzej Duda, which allows insurers to inco...
Alior BankImage : Vivenge

PZU denies plans to merge Alior with Pekao

State-owned insurer PZU denied media reports that it will merge its banking units Pekao and Alior. “It’s pure media speculation,” PZU CEO Paweł Surówka, told the Polish Press Agency (PAP). PZU will instead seek revenue and cost synergies among the two lenders

Locked content PZU signs new deal for subordinate bond issue

WSE-listed insurer PZU, signed new deals with six banks to run a PLN 3 billion subordinated bond issue. The new contract adds state-owned bank BGK to the mix. The other banks include, announced back in March Pekao, BZ WBK, ING Bank Ślśski, mBank and PKO BP. An eventual issue remains “dependent upon ...

Locked content Pekao appoints Michał Krupiński as CEO

State-owned lender Pekao named former PZU head Michał Krupiński as its new CEO. His appointment needs to be approved by the Financial Supervision Authority (KNF). Krupiński replaces long-time Pekao boss Luigi Lovaglio who was dismissed, along with him, Deputy CEOs Diego Biondo and Stefano Santini re...