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The Warsaw Voice » Business » September 26, 2018
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Insurer giant interested in acquisitions
September 26, 2018   
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Pawel Surowka
Blue-chip insurer PZU mulls acquisitions in the field of asset management, both in Poland and the immediate region, CEO Pawel Surowka told PAP.
"We are interested in acquisitions in the field of asset management, we will be searching for opportunities both in Poland and the region," Surowka said at the sidelines of the conference Charting Poland's Future in London.
PZU has taken a "very selective" approach to the question of valuation of the domestic asset managers, Surowka added.
"The question as to the Polish market is whether the valuations of asset managers are currently on the right level, whether their valuations correspond to where they will be in the future," CEO said.
PZU eyes a lot of entities at the moment, Surowka observed, while declining to comment on the insurer's potential interest in Union Investment TFI, reportedly up for sale.
PZU intends to create a global player on the asset management market, combining the knowledge of international markets with investment needs of a domestic and regional client, which is why it appointed Robert Kubin, formerly at MetLife, as its Chief Investment Officer, Surowka also said.
"We had said that we want to sport PLN 60 billion in AuM," Surowka observed of the insurer's "very ambitious goal". "We want to have expertise in order to invest actively and know markets all over the world."
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