News

07.05.2011, Kyiv, Ukraine - PZU Ukraine Insurance Group announces changes in the Board of PZU Ukraine. Maciej Szyszko, who previously held the office of Deputy Chairman of the Board on Finance, was appointed the Chairman of PZU Ukraine by the decision of the Supervisory Board. The Board was also joined by Vitaly Shcherbina who previously held the office of Director of Product Management.

Jacek Austen, PZU Ukraine SEO from 2007, did not extend his contract which terminated in May 2011. "The Company needs professionals in insurance and period of crisis-management goes back in time", - commented his decision Jacek Austen.  "The business has stabilized and now the Company faces new challenges:  to consolidate the positive trends and deepen those reforms carried out in previous four years”.

PZU Ukraine continues to show positive trend in 2011. By the 1^st quarter of the current year the Company collected insurance premiums amounting to UAH 77,519,000. During the same period of 2010 the Company received UAH 58,731,000 (trend 132%). The solvency margin of PZU Ukraine in 2010 exceeds the regulatory requirements more than 6 times.

"Today the Company is at the next stage of its development" - said Maciej Szyszko. - "Time of restructuring has gone and now the principal task is to bring the Company to the European level. This means that we will pay more attention to the quality of customer service and build effective processes in each business unit. Happy customer and a positive business of the insurance company are same train’s carriages. A professional team is its locomotive."

Maciej Szyszko (37) in 1997 graduated from the University of Gdansk (Physics and Mathematics faculty). He entered the insurance business in 1996 as a Senior Consultant of Analysis and Planning Department of ERGO (non-life). From 1997 to 2007 he held senior positions in other companies in financial and IT consulting spheres including MetLife NY. In 2007 he was appointed Deputy Chairman of the Board on Finance of PZU Ukraine.

"My area of ​​responsibility will be product policy, underwriting, settlement of insurance claims and reinsurance", - said Vitaly Shcherbina. - "The company faces serious tasks and now we will make every effort to achieve them."

Vitaly Scherbina (48) in 1987 graduated from Taras Shevchenko National University of Kyiv (Philosophy faculty). He started working in the insurance industry from 1997 in Credo-Classic IC. During 2001-2009 he held several executive positions within mentioned company in the spheres of insurance and reinsurance. In 2009 he was appointed Director of Product Management of PZU Ukraine.

Reference

PZU Ukraine Insurance Group includes two insurance companies: PZU Ukraine IC and PZU Ukraine Life Insurance IC, both of which providing a wide range of insurance services in Ukraine since 1993. The Ukrainian insurance companies are part of PZU - the largest insurance group in Poland with more than 200 years of experience. According to the Standard & Poor's rating PZU Group has the highest rate of financial standing - "A" (with stable outlook). PZU’s net income for 2010 was USD 1 billion.