Brexit makes PZU invest more abroad

Poland's biggest, state-controlled insurer PZU is going to acquire new stocks and bonds outside Poland in order to deal with risks connected with the UK leaving the EU and under-performing Polish market. "The Brexit vote combined with low interest rates in Poland shows how important it is to go abroad with investments,"  PZU CEO Michał Krupiński said on Monday. "PZU may invest more on the US markets and in treasury notes of central and eastern European governments as it considers a global diversification strategy." Michał Krupiński also mentioned that PZU remains interested in "all attractive takeover options in Poland." Recently, Krupiński announced that PZU aims to reach PLN 100 billion in assets by 2020. Currently, PZU has more than 65 percent of its $14 billion portfolio in government bonds.