Unit4, has announced one of Poland's largest insurance companies, WARTA Group, has selected its enterprise HR software to manage HR processes company-wide and deliver self-service efficiency to its 3,000 employees.

Poland's second-pillar pension funds (OFEs) generated poor results over the last year, with all the 12 funds recording negative returns. According to the Polish Financial Supervision Authority (KNF), the weighted average 12-month return, as of the end of March 2016, fell from 2.52% in 2015 to minus 6.63%, while the three-year return plunged from 25.13% to 6.34%.

Fitch Ratings has affirmed the Long-term Issuer Default Ratings (IDRs) of Poland-based Bank Pekao SA (Pekao) and its mortgage bank subsidiary, Pekao Bank Hipoteczny (PBH), at 'A-' with Stable Outlook.

Total value of GWP by the Polish insurers in 2015 amounted to PLN 54.8 billion (EUR 12.86 billion), a volume fairly equal as compared with 2014 (decrease y-o-y by 0.23%), while the total value of claims paid went down by 2%, to PLN 34.8 billion. Insurers' net profit amounted to PLN 5.7 billion and was 14.3% lower than in 2014.

Poland's mid-tier lender Alior Bank ALRR.WA, owned by state-run insurer PZU, is in talks to buy its rival Bank BPH BPHP.WA from General Electric (GE.N) and hopes to complete a deal around mid-2016, three banking sources told Reuters.

At the end of 3Q2015 the Polish insurance market totaled PLN 40.88 billion (EUR 9.65 billion) or 0.22% more y-o-y, as the financial indicators published by the Polish Financial Supervision Authority (KNF) show. Official figures also reveal that the amount of paid claims/indemnities during the period was PLN 25.85 billion, representing an increase of 2.39% y-o-y.

Poland's new conservative-dominated parliament yesterday pushed through a controversial levy on the finance sector to help fund pre-election promises on welfare. The measure, due to take effect from February 1, will see a 0.44-per cent annual tax on the assets of banks and insurance companies.

Polish government bonds owned by insurance companies will not be exempt from the bank tax, unlike the ones owned by banks, deputy Finance Minister Konrad Raczkowski said on Tuesday. Earlier on Tuesday a member of the ruling Law and Justice (PiS) party said that it planned to amend the bank tax bill to exempt government bonds from the levy.

As many as 250,000 Polish drivers have not insured their cars, which is a legal requirement in the country. Just last year, more than 6,000 accidents were caused by uninsured drivers or those who fled the scene.

Compared with the previous years' results, 1H2014 represented for the Polish insurance market rather a stagnation period, with GWP increasing by only 1.3% both on the life and non-life segments. Thus, total GWP amounted to PLN 28.09 billion (EUR 6.69 billion), while claims paid totaled PLN 17/44 billion (EUR 4.16 billion), a volume roughly comparable with the last year's first half figure.

Poland will seek to hand shares in gas firm PGNiG, insurer PZU and power utility PGE over to the Silesia investment fund, according to a motion from the Treasury Ministry to the Monday cabinet sitting. In the deal, Poland will take a new stake in the Silesia Financial Agency fund, first called to being to help Poland restructure its milling industry.

British insurer Aviva is considering small acquisitions in markets such as Poland, where it recently bought a financial advisory group, an Aviva spokesperson said on Thursday.

A.M. Best has affirmed the financial strength rating of A- (Excellent) and the issuer credit rating of "a-" of Polskie Towarzystwo Reasekuracji S.A. (Polish Re) (Poland). The outlook for both ratings is stable.

Employers of Poland urge  the Minister of Health to amend the act on medical activity so that medical malpractice insurance for hospitals remain voluntary rather than compulsory. This would enable hospitals to save up to several hundred thousand z

Three investors have been shortlisted to buy Poland's largest insurance e-comparison engine, reportedly including Link4, a unit of Poland's largest insurer PZU. The other two bidders for Rankomat.pl are private equity fund Enterprise Investors and UK insurance intermediary company, Confused.com, the daily Puls Biznesu reports.

On 1 July Aviva and Liberty Ubezpieczenia joined companies offering Direct Claims Adjustment (DCA) to their clients. Currently, the system has been already applied by 7 insurance companies, which corresponds to ca. two thirds of the third party motor liability insurance market. In mid-October DCA is to be introduced also by the eighth insurer - Gothaer.

Polish insurers' aggregate GWP was up by 2.95% y-o-y to PLN 14.37 billion (EUR 3.51 billion) in the first quarter of 2015, as the financial indicators published by the Polish Financial Supervision Authority (KNF) showed. Official figures also revealed that the amount of paid claims/indemnities during the period was PLN 8.72 billion, representing a decrease of 4.82% y-o-y.

Central Europe's biggest insurance group PZU has submitted an offer to buy Raiffeisen Bank International's Polish arm and wants to pay less than the unit's book value, banking sources with knowledge of the matter said.

PZU Inwestycje, the asset management wing of the listed insurer PZU, has agreed to take a 60 percent stake in Warsaw hospital Centrum Medyczne Gamma, part of the largest Polish insurer's move into new lines of business.

State-controlled Polish insurer PZU has reiterated plans to spend up to PLN 9 billion on creating a Polish banking giant. PZU has said it is in talks with two banks and could buy a third as part of a plan to create a major domestic bank able to compete with foreign-owned Polish banks.