PKO BP hopes to find insurance partner in 2015

Poland’s largest bank PKP BP is in the process of seeking a strategic partner for its insurance arm and hopes to conclude it in 2015, the lender’s deputy CEO Bartosz Drabikowski told the Polish Press Agency. “We would like to have a strong insurance partner and at the same time to retain control over the distribution network,” Drabikowski said. PKO BP had earlier said it would launch a new bancassurance model, creating two insurance units, specializing in life and non-life services. A 50-percent stake in the units could be then sold o a joint-venture partner.