"Job force cuts will concern up to 230 people in PZU and PZU Zycie, which accounts for 2 percent of the workforce in both companies," PZU said in a statement.
The PZU unit handles non-life insurance, and PZU Zycie provides life insurance.
The restructuring is due to take place in October and November and its cost will be included in this year's financial results, the company said.
A PZU spokesman declined to comment on the amount the company would spend on the restructuring.
Some people will be offered new jobs while others will be moved to different posts, he said.
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POLISH insurer PZU to cut 2 pct of workforce in main units