Powszechny Zakład Ubezpieczeń

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Powszechny Zakład Ubezpieczeń
Spółka Akcyjna
Traded as WSEPZU
Industry Financial services
Founded 1803
Headquarters Warsaw, Poland
Area served
Europe
Key people
Paweł Surówka (CEO)
Katarzyna Lewandowska (Chairman)
Products Insurance and Banking
Revenue Increase €5.4 billion (2017)
Increase €1.0 billion (2017)
Total assets Increase €75.3 billion (2017)[1]
Number of employees
16,822
Website www.pzu.pl
PZU Tower, headquarters of PZU Group in Warsaw

PZU Group (PZU) (WSEPZU) is a publicly traded insurance company, a component of the WIG20 and one of the largest financial institutions in Poland. It is also one of the top insurance companies in Central and Eastern Europe. The main advantages of the Group concern the strong competitive position, high level of equity and high effectiveness of business activity.

PZU Group offers the largest selection of insurance products on the Polish market (nearly 200 insurance products) and constantly enhances the scope of provided services. The activity of PZU group encompasses the comprehensive insurance-financial service. The Group entities provide services in the area of non-life insurance, personal and life insurance, investment funds and open pension fund.

History[edit]

The company's origin dates back to 1803 when the first insurance company in Poland was established. In the years 1927-1952 the company operated under the name Powszechny Zakład Ubezpieczeń Wzajemnych and between 1952-1990 it was known as Państwowy Zakład Ubezpieczeń (State Insurance Company) as it was officially given a monopoly by the state and effectively became the largest insurance company in the country.[2]

In the first half of 2008 PZU Group received 11,882.5 million Polish zloty in insurance premiums. This is an increase of 50.6% over the same period in 2007.

PZU was first quoted on the Warsaw Stock Exchange in May 2010.

In March 2014, it was revealed that PZU and Vienna Insurance Group were in the race to acquire rival Lietuvos Draudimas for around $147 million.[3]

In December 2016, PZU together with Polish Development Fund acquired Bank Pekao - Poland's second largest bank previously owned by Italian bank UniCredit by buying a 32.8 per cent stake in the bank for the amount of PLN 10.6 billion (EUR 2.6 billion).[4]

Organizational structure[edit]

The PZU Group currently comprises a total of 88 companies[5], some of which include:

  • Powszechny Zakład Ubezpieczeń na Życie SA
  • Powszechne Towarzystwo Emerytalne PZU SA
  • Towarzystwo Funduszy Inwestycyjnych PZU SA
  • PZU Pomoc SA
  • PZU Centrum Operacji SA
  • PZU Tower Sp. z o.o.
  • PZU Asset Management Sp. z o.o.
  • Międzyzakładowe Pracownicze Towarzystwo Emerytalne PZU S.A.
  • PZU Lietuva (Lithuania)
  • PZU Ukraine
  • Apdrošināšanas Akciju Sabiedrība Balta (Latvia)
  • PZU Finance AB (Sweden)
  • LLC SOS Services (Ukraine)
  • Ogrodowa – Inwestycje Sp. z.o.o.
  • Alior Bank
  • Bank Pekao

List of CEOs[edit]

References[edit]

  1. ^ "Wyniki finansowe PZU". Retrieved 2018-03-15. 
  2. ^ "About the PZU Group". Retrieved 2018-03-25. 
  3. ^ "PZU, Vienna Insurance in the race for Lithuania's top insurer". Reuters. 27 March 2014. Retrieved 28 March 2014. 
  4. ^ "UniCredit sells Bank Pekao stake to Powszechny Zakład Ubezpieczeń and Polski Fundusz Rozwoju". 8 December 2016. Retrieved 19 December 2016. 
  5. ^ "Group structure". Retrieved 2018-03-24. 

External links[edit]

Media related to Powszechny Zakład Ubezpieczeń at Wikimedia Commons