![]() ![]() This is an increase of 50.6% over the same period in 2007. In the first half of 2008 PZU Group received 11,882.5 million Polish zloty in insurance premiums. With the acquisition in OAO “Skide West” (PZU Ukraina) in 2005, it began operations on the Ukrainian market again. In 2002, the PZU Group started its activities on the Lithuanian insurance market by acquiring shares in UAB DK “Lindra” (PZU Lietuva). A settlement and sale agreement were concluded between the parties. A dispute arose in connection with the implementation of the agreement, which was settled amicably in October 2009. ![]() On 5 November 1999, a share purchase agreement was concluded under which Eureko and BIG Bank Gdański SA acquired 20% and 10% respectively of the share capital of PZU. In 1998, in relation with the reform of the pension insurance system in Poland, PZU Życie formed PTE PZU, a joint stock company, which operates the OFE PZU (Open Pension Fund). ![]() The PZU transferred its portfolio of life insurance contracts for PZU Życie. In December 1991, the PZU Życie joint stock company was founded by polski Bank Rozwoju and Bank Handlowy in Warsaw. In 1991 PZU was turned into a joint stock company controlled by the State Treasury as a consequence of the political transformation after 1989. 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. The company's origin dates back to 1803 when the first insurance company in Poland was established. The Group entities provide services in the areas of non-life insurance, personal and life insurance, investment funds and open pension fund. The activities of PZU group encompass a comprehensive range of insurance and financial services. PZU Group offers a selection of nearly 200 insurance products on the Polish market. It is also the largest insurance company in Central and Eastern Europe. PZU is headquartered in Warsaw and is the largest financial institution in Poland. PZU, also known as Powszechny Zakład Ubezpieczeń Spółka Akcyjna, or PZU SA ( Polish pronunciation: ) ( WSE: PZU) is a publicly traded insurance company, a component of the WIG30 stock market index and Poland's biggest and oldest insurance company. ![]()
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