Poczta Polska and Cardif sticking together in small towns

French insurer Cardif is to form a partnership with Poczta Polska. The new partnership will specialize in individual insurance-policies and will have zl. 7.5 million initial capital. "We will focus on offering individual insurance for credit cards and unemployment. The service will be aimed at participating banks' account-holders," said Cardif president Jan Emeryk Rosciszewski. In September, Cardif and Poczta Polska will also establish another partnership, Pocztowa Agencia Uslug Finansowych (PAUF). Cardif will have a 40% stake in this partnership and the share capital will be zl. 4 million. "Sales of pension-fund OFE Pocztylion by Poczta Polska have been very successful. The new company will allow us to offer financial services to people living in small towns," said Rosciszewski. Most of Pocztylion's portfolio consists of providing assurance policies for banks. "We plan for 50% of our business to be from these assurance plans, with individual and group insurance accounting for the other 50%. Previously, we financed returns on investment from our zl. 11.5 million capital, but we are now able to do this from money collected from premiums," said Rosciszewski. (Puls Biznesu, page 1, 5) M.M.