PZU

Industry:	Insurance
Revenues:	Under $20 Million
Employees:	Under 99

Description

PZU delivers the main contribution. Eureko increased its stake in PZU by 10% in 2004, to 31.8%. PZU registered a profit to Eureko of EUR 133 million, which is 138% higher than at the same period in 2004. Besides the increased stake (EUR 28 million), the main drivers for the strong increase of EUR 49 million, are, higher investment returns in the Life and Non-Life segment, strong claims ratio in the Non-Life segment and increased value of the Polish Zloty (EUR 10 million).

The increase, by 78%, from "Other associates" stems from Eureko's strategic investments in BCP, Friends Provident and F&C Management. Our investment in Friends Provident increased when F&C was divested in the fourth quarter of 2004; this is the main driver in the increased result.

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News Archive

Poland may sort out privatisation wrangle with Eureko this week - PM. ADP News Poland; 9/22/2009 ...the control of Poland's insurance major PZU. The privatisation contract, through which Eureko acquired 33% in PZU in 1999, included provisions for a stock...daily Rzeczpospolita, the two owners of PZU have already come to an agreement and need... ...more

Polish PZU to list by May 2010. ADP News Poland; 12/3/2009 ...Polish state-owned insurance company PZU will debut on the bourse before May 14...Biznesu writes. The IPO became possible after PZU recently paid long-retained dividends...reducing its stake in the Polish insurer. PZU chief executive Andrzej Klesyk said the... ...more

Dutch Eureko gets dividend from Polish PZU. ADP News Netherlands; 11/26/2009 ...payment from Poland's insurance major PZU. Following the payment as agreed on October 1, Eureko will start reducing its stake in PZU. The payment of long-retained dividends...Polish state, the other big shareholder in PZU, which in October ended a ten-year ownership... ...more