Shareholders to vote on PZU to becoming PZU Holding

The concept is based on an analysis of operations of large insurance groups existing on developed European markets. It is planned to set up a dominant PZU Holding company, which will have 100% stakes in its subsidiaries. The new entity would have the same ownership structure as the existing PZU S.A. Earlier, or at the same time, property insurance firm will purchase stakes in subsidiaries currently held by life insurer PZU Życie. This will allow PZU Holding to avoid the necessity of finding financial resources to financing the purchase of these companies. The proposed changes, which will take about a year, will create a structure which will ultimately strengthen the position of the company's CEO. (Parkiet, p. 1) M.M.