New PZU corporate strategy will focus on customers

Zdzislaw Montkiewicz, the president of the insurance giant, PZU, together with his recently appointed supervisory board, has worked out a new corporate strategy. "As until now the company lacked a common strategy for the whole group," said Montkiewicz. Based on the new assumptions the company will now concentrate more on customers, by improving the quality of service and bring them more in line with market needs. The main distribution channel will become agents who currently sell around 38% of all insurance policies. The PZU Group decided to concentrate on its core business activity and sell most of their 100 subsidiary companies that are active in other areas. However precise information about how or when these will be sold were not revealed. During the next five years PZU plans to maintain a dominant position on the market and play a significant role in Central Europe. "After the acquisition of an insurance company in Lithuania [Lindra] we are currently studying other potential investments and acquisitions," said Montkiewicz. Today the General Shareholders Meeting of PZU will be held, which will appoint a new supervisory board president and probably replace several members of the board. (Puls Biznesu, p. 7; Prawo i Gospodarka, p. 3) A.K.