Warta ponders expansion in promising Eastern markets

One of the biggest insurance companies, Warta is considering entering the Ukrainian and Lithuanian markets, where its strategic partner Kredyt Bank already has a presence. "A detailed market analysis and future prospects on these markets have been prepared. However, no decisions have been taken yet," said Agenor Gawrzyal, president of the Warta group. While thinking about foreign investments, the company is not excluding new investments in Poland. "There are no official talks, but preparation work is underway. If any possibilities appear, we may consider our financial engagement," said Gawrzyal. Warta sees itself as one of the centers around which the national insurance market may consolidate. According to unofficial information, Warta was considering investing in the Daewoo Insurance Company, but this was part of a maneuver to save the face of the insurance market and avoid another bankruptcy. Gawrzyal said "We cannot run any charity activities. Everything we do has to make economic sense". (Puls Biznesu, pp. 1, 9) A.D.