Polish Post to offer more insurance and banking services

Insurance giant PZU is going to co-operate with the Polish Post Office (PP) with regard to selling insurance policies. PP already owns the Postal Fund of Mutual Insurance (PTUW), while its postmen offer policies of My Insurance Company (MTU), which belongs to Hestia and TunŻ Cardiff Polska. Therefore, PP's co-operation with PZU will have to be well thought out. PP has 8,350 outlets. Thanks to working with PP, Hestia moved up from 26th place among property insurance companies to 14th. It posted revenues of zł.145.9 million in 2005, while this year, if the growth tendency is maintained, its revenues should top zł.260 million. PTUW had a gross premium growth of 877.8% in Q1 this year and reached noted revenues of zł.7.9 million. The Post Office Bank (Bank Pocztowy) is rapidly expanding co-operation with bank PKO BP and will distribute units in PKO TFI trust funds. Within a year the parties hope to offer bonds worth zł.100 million. (Puls Biznesu, p. 4) J.L.