Austro-German Wuestenrot Zycie to enter Polish market

Austro-German Wuestenrot Zycie Towarzystwo Ubezpieczen insurance company has received a license from the Finance Ministry and will soon start operating in Poland. The company's share capital is zl. 30 million and it will be controlled by Wuestenrot & Wuertembergische AG financial group (49%), Wuestenrot Versicherungs AG from Salzburg (49%) and Wuestenrot Polska (2%). The new insurer will sell life insurance. Its chairman will be Leszek Szwedo, who will be supported by Haarald Theis and Klaus Woehry. Wuestenrot & Wuertembergische controls insurers, building societies and banks granting construction loans. Its capital last year was DM 3.4 billion. The company already has branches in Czech Republic and Slovakia. (Prawo i Gospodarka, page 11) J.K.