Allianz to tighten cooperation with bank Pekao to sell insurance products

Life and property insurance companies belonging to Allianz Polska plan to further develop co-operation with bank Pekao S.A. later this year. The companies want use the bank to expand mortgage and life insurance policies sales along with investment funds. Allianz wants to double the number of its customers choosing insurance-banking offers which is now estimated to be 100,000-150,000 people. TU Allianz Polska and life insurance company TU Allianz Zycie Polska president Andrzej Burza estimates that sales through Pekao can be very profitable for his firms. He also said firms have not yet decided how much would be spent on IT investments but have received information that Allianz AG will invest over zl. 10 million in capitalizing the venture over a four to five year period. The new products will be sold by Pekao employees, and the bank will participate in training and salary costs. (Puls Biznesu, page 1, 9) M.M.