“PZU Lietuva” Insurance Group: UAB DK “PZU Lietuva” and UAB “PZU Lietuva gyvybės draudimas”
In 2004, the PZU Group acquired UAB “NORD/LB Draudimas” and UAB “NORD/LB Gyvybės Draudimas”, secondary companies of bank “NORD/LB Lietuva”. In 2005, the PZU Group accomplished the merging process of the mentioned companies and earlier acquired UAB DK “Lindra” and UAB “Lindra – Gyvybės Draudimas”.
Major investor is the largest insurer in Central and East Europe – the PZU Group – with more than 200 years of traditions in insurance business.
- Sound backing on the part of the major investor – in 2005 net profit of the PZU Group increased by as as 51,4 per cent compared to 2004 and reached the record-breaking level of PLN 3.21 billion (LTL 2.83 billion).
- The PZU Group invested about LTL 125 million into the insurance market in Lithuania in 2004-2006.
- In 2008, the authorized capital of “PZU Lietuva” amounts to LTL 90,4 million and is the biggest among Lithuanian non-life insurance companies. The authorized capital of “PZU Lietuva gyvybės draudimas” amounts to LTL 19.7 million and is the biggest among Lithuanian life assurance companies.
Rational quality-and-price balance
- The range of services includes more than 40 kinds of non-life and 10 kinds of life assurance.
- Prices for the services are set on the basis of the prevailing competitive market conditions.
- Individual, complex and bancassurance services as well as pension endowment funds are offered subject to customers’ requests.
- Regular customers are applied attractive discount system.
“PZU Lietuva gyvybės draudimas” offers its customers to share in investment-related solutions and to make effective investment of available funds to one or several investment trends at their choice: government securities in litas, government securities in euros, NordluxPro 100, BRIK, Developing Europe’s shares.
- The sales network of “PZU Lietuva” covers entire Lithuania. Customers are delivered services in all cities and towns of the country.
Reinsurance programs and co-operation with the largest international reinsurance companies and loss administrators ensure timely fulfillment of the obligations against our customers.
Munich Re, Hannover Re (Germany), Atradius (Belgium), Swiss Re (Switzerland), SCOR (France), etc.
Loss administration partners:
With regard to the provision of bancassurance services, “PZU Lietuva gyvybės draudimas” co-operates with such Lithuanian banks as DnB NORD bank, Ūkio Bankas, Šiaulių Bankas, SNORAS bank.
Dynamics and investments
- In 2005, the reorganization process of the companies was successfully accomplished and good foundation was laid for efficient activities in future.
- In 2005 – 2006, investments in the “PZU Lietuva” insurance group for the implementation of modern systems of information technologies in the area of accounting and loss administration amounted to ~ LTL 5 million.
- In 2005 – 2006, in excess of LTL 1 million was assigned for the qualification improvement programs to the service experts and advisors of the “PZU Lietuva” insurance group; investments of the company for this purpose will increase by LTL 0.6 million by the end of 2006.
Sociality, educative and social activities
- “PZU Lietuva” Insurance Group – a member of the American Chamber of Commerce.
- “PZU Lietuva” Insurance Group supports and sponsors various projects and events for mass public, co-operates with various national institutions and organizations in the field of science, culture, sports and social support.
Head office of “PZU Lietuva” Insurance Group
UAB DK “PZU Lietuva", UAB “PZU Lietuva gyvybės draudimas”
Konstitucijos ave. 7, 09308 Vilnius