PZU has big plans

Largest insurer in Poland, PZU is interested in acquiring AIG's insurance assets in central and eastern Europe, but it does not want to purchase shares in AIG Bank Poland, Chief Executive Andrzej Klesyk told reporters.

This move is part of the company's strategy for 2010-2011, where the firm wants to become insurance leader in central and eastern Europe. "The goal which we've set for ourselves is ambitious, therefore the transformation may take longer than the three year period outlined in the strategy," Klesyk said in a press release.

To make this happen, PZU wants to increase its position in car and group insurance. It also plans to tackle sectors where it's hardly present such as, individual insurance and health insurance.