In 2008 insurance company PZU maintained its 40% share of the market, but in 2009 it is likely to drop below this threshold. According to daily Parkiet, in January 2009 PZU collected slightly more premiums than it did in January 2008, with worse sales of auto insurance, which is its core business. PZU did not comment on this information.

According to Parkiet, sales outlets of PZU's Nowa Era Sprzedaży (NES) program did not bring the expected results.

“It is untrue that NES is not successful,” said company spokesperson Michał Witkowski. However, the daily claims the threat that the insurer will lose its market share is real, as PZU's CEO Andrzej Klesyk announced the firm would raise premiums for corporate insurance, or might even withdraw from some unprofitable product lines by the end of the year.

Preventing a drop in its market share is one of the main elements of PZU's strategy for 2009-2011. However, Parkiet suggested that a slightly smaller market share might be favorable for the firm, as it might mean easier acquisitions since the market regulator will be less strict.

Source: Parkiet