PZU's international expansion plans could address the Slovenian insurer TRIGLAV, which is rumored to be for sale, announces PAP news agency quoting Andrzej KLESYK, CEO PZU. "We are waiting for the declaration of the Slovenian government about how many shares it wants to sell," KLESYK said. "We clearly say that we are interested exclusively in a stake assuring over 50% of the company."

KLESYK explained that the Polish insurance group's policy is to have control over the entities it takes over. Yet, according to Triglav's CEO Matjaz RAKOVEC, although it is almost sure that the new Slovenian government intends to sell its 63% stake in TRIGLAV, the country's biggest insurer, there are two working scenarios on the table: the full exit of the state from the shareholder structure or a partial sale allowing the state to keep 25% plus one share. "In my opinion the sale process will start in the coming weeks, probably at the beginning of October", said RAKOVEC.

Meanwhile PZU has already taken firm steps to launch its Baltic operations, as we have previously written. In Q4 2012 will start its Latvian branch, while Estonia will follow, in Q2 2013, according to the Group's statements. PZU Lietuva, the Lithuanian arm of the Polish Group, will carry out the Baltic expansion, probably needing a capital injection of about EUR 7 million in order to do so.