BRE Bank will be the first on the market

The financial institution will establish a life insurance branch as well as a non-life insurer, starting with the latter. The working name is BRE Ubezpieczenia. Slawomir Lachowski revealed that the investment in both companies will reach zl.33 million, out of which zl.15 million will be earmarked as reserve capital until the entities reach profitability. It is estimated that the companies will become profitable if 5% of mBank and Multibank (both controlled by BRE Bank) customers buy either life, house or car insurance. "Within five years BRE Bank has convinced 1.5 million Poles to change their way of using banking services, while mBank and Multibank have become the leaders of innovation. Now the time has come for a revolution on the insurance market. Within 3 years BRE Bank will be servicing 2.5 million retail customers. We estimate that their insurance expenditure will amount to 20% of the whole market," said Lachowski. (Puls Biznesu, pp. 1, 4) A.K.