POLAND: PZU wants to enter Latvian and Estonian markets

Poland's insurance giant PZU plans to launch operations in Latvia in the fourth quarter of 2012 and in Estonia in the second quarter of 2013, the newspaper Warsaw Voice reports.

Entry on the Latvian and Estonian markets will be carried out by the company's Lithuanian unit PZU Lietuva, which filed for Lithuanian supervisory approval of opening divisions in the other Baltic countries in August 2012, pointed out the company's management, informs LETA.

The required capex will come from PZU Lietuva, which may require a capital injection of around EUR 7 million in the initial years of the project, added the management.

The new operations are to offer a full range of PZU corporate products, with corporate and SME clients targeted in the initial years of activity. Building own sales network of individual policies will depend on both divisions' posting positive financial results.

Read the full story on: www.baltic-course.com
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