In the latest triumph of marketing hype over common sense, CGNU, the U.K.’s largest insurer, officially recommenced life on Monday as Aviva Plc. CEO Richard Harvey, who first proposed the change last February, has indicated that it will give the …
The ongoing battle between Poland’s new government and the Netherlands-based Eureko consortium over its plan to obtain majority control of Powszechny Zaklad Ubezpieczen (PZU), the country’s largest insurer, took a new turn yesterday when Wieslaw Kaczmarek, state treasury minister, announced …
U.K.-based global insurer CGNU plans on renaming itself Aviva Plc, and also announced that, even though it had achieved a remarkable 41 percent growth in operating profits last year, it planned on reducing its dividend from 38 pence (54 cents) …
The European Commission in Brussels has warned the Polish Government that continued efforts to block the Eureko Consortium from acquiring a majority interest in Poland’s largest insurer Powszechny Zaklad Ubezpieczen (PZU) could have a negative impact on foreign investment in …
The Netherlands-based Eureko consortium, apparently frustrated by the Polish government’s continued delays in implementing the agreement to sell a controlling interest in Poland’s largest insurer Powszechny Zaklad Ubezpieczen (PZU) (See IJ Website Feb.7), has formally requested that the matter be …
Poland’s recently installed government has reportedly thrown up a new barrier for the Eureko consortium to pass in its quest for control of the country’s largest insurer Powszechny Zaklad Ubezpieczen (PZU). Eureko, a group of affiliated European insurers, based in …
Poland’s newly installed Treasury Minister, Wieslaw Kaczmarek, has questioned the accord reached between the previous government and Eureko, the European consortium that is seeking to acquire a stake in Poland’s largest insurer Powszechny Zalad Ubiezpieczen (PZU). He indicated that the …
Eureko, the Pan-European consortium of insurers, has reached agreement with the outgoing Polish government on terms to acquire an additional 21 percent stake in Powszechny Zaklad Upbezpieczen (PZU) for around $655 million. The often acrimonious relationship between Eureko and the …
The Russian insurance market appears ready for steady growth in the next five to 10 years according to a report by Standard & Poor’s. The announcement comes after last month’s upgrade of S&P’s long-term local and foreign currency issuer credit …
The Polish non-life insurance market has stabilized and appears headed for a period of growth according to Standard & Poor’s (S&P) most recent studies. S&P’s report notes that against decreasing margins and more competition in the market, the present low …
