POLAND: PZU and BOS are now partners in green bancassurance

23 March 2022 — Marina MAGNAVAL
PZU Group, the largest financial institution in Poland and CEE with the first insurance company established in Poland, on March 21 signed a letter of intent with Bank Ochrony Srodowiska on establishment of the strategic cooperation in bancassurance, Gazeta Ubezpieczeniowa reports.

The agreement between PZU SA and BOS will provide the bank's clients with access to the insurer's portfolio as part of a joint service package.

"We are constantly looking for partners with whom we can build synergy for our individual and institutional clients. Development of cooperation with banks, not only those from the PZU Group, is one of the key pillars of our strategy for 2021-2024. Thanks to the development of this business, we reach a greater number of Poles with our insurance offer, and therefore ensuring safety. I hope that experience of BOS in financing ESG initiatives will help us find new, valuable directions of cooperation", said Malgorzata SADURSKA, member of the PZU SA management board. Thanks to cooperation with banks, the insurer generated PLN 1.5 billion in revenues during three quarters of 2021.

The PZU Group's strategy for 2021-2024 assumes achieving climate neutrality in terms of its own operations. PZU also plans that by 2040 its co-operators and business partners will become climate neutral, and by 2050 - insurance and investment clients as well.

The share of green loans in the BOS loan portfolio currently exceeds 36%. The bank's new strategy assumes that it will increase to 50% by 2023.

"We are constantly working on the development of financing and support of pro-ecological investments. We want the BO?S offer to be distinguished by its comprehensiveness. Hence, we not only focus on flexible forms of financing and a strong advisory element, but also strive to ensure that our clients' investments are properly secured. We want to achieve these goals with reputable partners who offer the highest service quality. In case of insurance, PZU is undoubtedly such a partner", emphasized Wojciech HANN, President of the Management Board of Bank Ochrony Srodowiska.

Share |