Nationwide to invest $40 million to grab market share

Nationwide plans to gain 7-10% of the Polish group insurance market share in five to seven years by investing $40 million in Poland. Nationwide Towarzystwo Ubezpieczeniowe na Zycie, which is a part of Nationwide Global Holdings, will offer group insurance together with investment funds in accordance with the investment funds bill. In the first stage the firm will offer Pioneer investment funds, but Nationwide does not exclude co-operation with other investment fund companies. "We had talks with many funds, but none offered us attractive collaboration conditions. We think mostly about those, which will offer us investments in foreign markets," said Nationwide president Adam Uszpolewicz. The firm will invest at least 97% of the premiums and customers have the possibility to direct their investment by deciding on investment funds. "We are interested in the customers who plan long-term investments," said the president of Nationwide Global Holding Richard D. Healey. (Puls Biznesu, page 4, Parkiet, page 7) M.M.