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Bank Pekao SAPZU insurer's holding structure creation requires changing current law, says CEO
The creation of a holding structure within listed insurance group PZU will require an amendment to the insurance act, the acting CEO Andrzej Klesyk told a conference following the publication of group's financial report.
"We have very positive discussions with the Treasury and Poland's financial market regulator KNF, but we realise that the transformation of PZU into a holding will require an amendment to the insurance law," Klesyk said.
The CEO maintained the earlier announcements that the insurer will present a target scenario for banks in the third quarter of 2025.
At the beginning of December 2024, PZU published its strategy for 2025-2027, which included the simplification of the group's structure and the consolidation of banking assets.
At the time, the insurer revealed its plans to sell its shares in listed lender Alior to listed lender Pekao in order to generate value for the PZU group and the other shareholders of both banks.
seb/ ao/