It has been revealed that Poland's largest insurer, PZU is contemplating the takeover of neighbouring Belarus' state-owned Belgosstrakh.
Currently no timeline has been announced by the Belrusian government for the privatisation of Belgosstrakh, although an anonymous source close to the Belarusian government told the Parkiet daily that the takeover may result in the creation of a joint company.
Inside sources have also revealed that PZU is interested in the possible takeover of two or three insurance companies operating in Belarus, remarks Parkiet.
State-owned Belgosstrakh has over 50 percent of the country's insurance market and employs over 6,000 people.
Currently, there are over 20 insurers operating in Belarus. PZU has declined to comment on the possible takeovers, however. (jb)