PZU to acquire Pioneer

Poland's larger insurance firm PZU may become the biggest insurer on the Polish market after it takes over Pioneer Pekao Investments, according to a report released on Monday by Rzeczpospolita. The acquisition could increase the amount of assets under its management to PLN 67 billion. The move could have consequences for future Polish retirees, as it is expected to increase the amount of capital in the open pension fund. PZU will soon change its head, with Marcin Żółtek becoming its CEO at the beginning of 2017, according to the report.