HDI Asekuracja and HDI Samopomoc to merge

The transaction will be financed by increasing the share capital of the first of the two companies. "The concept of the merger and some of the formal requirements have already been fulfilled by the [insurance market] watchdog, while the remainder will be submitted in Q3," said Zbigniew Staszak, deputy president of both companies. The merger is going through according to plan and, "The realistic deadline is 30 September, but if it takes place on 31 December, this will not be a problem, as we will still fit into the plan," said the deputy president. The company is currently reorganizing its sales network and it earlier unified its insurance rates. Both companies recorded a drop in revenues in Q1, but "The preliminary data for Q2 are rather optimistic, while the increase in the premium of the merged entity will be comparable to the results of 2005 (about zl.840 million)," said Staszak. (Puls Biznesu, pp. 1, 9) M.M.