PZU has 750 outlets, 10,000 agents and 5.7m clients, far more than any other
insurance company in Poland. However, in the last four years, its market share
has shrunk by 9 percent. That’s why the company has prepared a totally new
strategy.
“We want to defend our position in Poland and increase the
premium. We will start foreign expansion which should bring 15 percent of
revenues. We will also improve our effectiveness”, Andrzej Klesyk, PZU CEO
said.
The company wants to grow both in the markets where it already is the
leader, including car or group insurance, as well as overtake its rivals in
other businesses (life and health insurance are the priorities for the giant).
The company would like to expand abroad.
“We are considering every
opportunity to buy an insurance company in the region”, Andrzej Klesyk
said.
The company has PLN 12bn (EUR 3bn) of funds available for
expansion.
(PLN 1 = EUR 0.253)