Deputy Finance Minister grants permits for insurance operations

By the end of this month, the insurance licenses will be received by the French Macif Życie Towarzystwo Ubezpieczeń Wzajemnych and Swiss-based Elvia Travel Insurance Company (ETIC). Although Parkiet has failed to confirm this information at the Finance Ministry press office, the decision has most probably already been made. Swiss ETIC plans to operate in Poland through its main headquarters. The investor has submitted a motion for the permission for ten groups of non-life and personal insurance. Until last year, the company had been granting services of technical and medical assistance through cooperation with insurance companies such as Allianz and PZU. Macif Życie TUW, a venture formed jointly by French Macif Group and its subsidiary Muta Vie, plans to concentrate its offer on savings products, such as personal pension accounts. Both insurers declare they plan to begin operations by mid next year. (Parkiet, p. 6) A.K.