Insurers Warta and HDI to merge as of next year
October 10, 2012
Insurer Warta, recently acquired by German Talanx and Japanese Meiji Yasuda, eyes 15-17% market share in the next three-four years after the merger with HDI insurer planned for early 2013, Warta CEO Jaroslaw Parkot told reporters on Tuesday.
"The merger will take place in the first days of next year. The process of merging the companies will take around 3 years," Parkot said, adding that Warta plans no "serious layoffs" in relation to the merger.
Retail insurance policies will be sold under both brands, while in the case of corporate insurance, only Warta brand will apply, the official also said.
Merged companies will have 12% market share, as calculated based on gross written premiums, but will work on increasing the share to 15-17%.