PTR agrees to pay TU Daewoo zl.35 million to settle insurance dispute

Reinsurance company Polskie Towarzystwo Reasekuracyjne (PTR) has agreed to pay insurance company TU Daewoo upwards of zl.35 million to settle a dispute over car insurance. TU Daewoo had originally been seeking zl.56 million, in a dispute concerning a reinsurance policy concluded at the end of 1998. The case came to public prominence when the Polish Insurance Supervision Office (PUNU) appointed a commission to supervise TU Daewoo's affairs, after the company began experiencing financial difficulties. The commission's head demanded payment from PTR, but it refused, claiming that the insurance packages concluded by TU Daewoo for newly-sold Daewoo cars were too low. (Puls Biznesu, p. 5) M.T.