POLAND: PTE ALLIANZ Polska acquires WARTA's pension fund business

PTE ALLIANZ Polska, a subsidiary of ALLIANZ Polska, announced that it will acquire PTE WARTA's pension fund business. PTE WARTA S.A. is owned by the Belgian bancassurance group KBC.

"I am pleased with this transaction as we will acquire a fund with an attractive client base that fits ours to increase our market position. This transaction will have no impact on the pension fund positions of PTE WARTA's customers, who will continue to benefit from the same level of professional service they previously enjoyed," commented Witold JAWORSKI, CEO of ALLIANZ Polska.

"This transaction is part of our strategy to focus on our core markets. It has no material impact on our P&L nor on our capital ratios," said Johan THIJS, Group CEO of KBC.

PTE ALLIANZ Polska at the end of March 2013 had PLN 8.232 billion assets under management, in total serving 555.8 thousand clients. After the integration of this acquisition, PTE ALLIANZ Polska will manage PLN 11.833 billion assets, serving 867.2 thousand clients in Poland.

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