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...

Locked content PZU looking for potential takeover deals abroad

WSE-listed insurer PZU is seeking takeover opportunities among foreign insurance companies, the Development Ministry said. “The PZU group is seeking possibilities of creating added value through takeovers of insurance firms, which will be the basic M&A targets in foreign expansion,” the Ministry...

Locked content New president of PZU TFI from April 1

 Marcin Adamczyk will become president of PZU TFI from April 1 this year it was announced today. Additionally, Cezary Iwanski will be appointed to the board as of February 15, the company reported. Marcin Adamczyk is an expert in the area of ​​investment, and has spent most of his career abroad in L...

Locked content PZU will keep Alior and Pekao as separate companies

Polish lender PZU, which owns Alior bank and is to acquire a majority stake in another Polish lender Pekao will not be merging them into one entity, PZU’s CEO Michał Krupiński said. “The synergy costs would be higher than its effects,” he explained PZU also isn’t planning any significant chang...