Poland’s top insurer PZU is looking for new investment opportunities outside its home market, the daily Puls Biznesu reports. Specifically, the company says it seeking to make new acquisitions in Ukraine. “We’re considering consolidation on this market, but no significant steps have yet been taken,” says Andrzej Klesyk, head of PZU.
Although PZU holds the biggest market share in Poland, it has been generating losses for the past several years. However it rebuilt its liquidity just last year, while its Ukrainian division posted a net profit of UAH 5m. “Our goal is to grow faster than the Ukrainian market,” says Klesyk, adding that this could mean as much as 40 percent in 2013.
