PZU insures Enea Połaniec

PZU insures Enea Połaniec

Enea, for ca. PLN 1.26 billion, purchased Połaniec Power Plant, which during the recent years has undergone a ca. 1.5 billion worth of an intensive modernisation programme, increasing thus the share in the energy generation market from 9 to 14 per cent. Połaniec Power Plant is one of the younger system power plants in Poland and the biggest object of this type in south-east Poland. Enea Połaniec Power Plant is insured by PZU.

The process of selecting the insurer commenced just after the execution in December 2016 of a conditional agreement with ENGIE International Holdings B.V. for the purchase of 100% of shares in ENGIE Energia Polska. Representatives of Enea and Połaniec Power Plant took part in the process. The offer was made by several insurers. It related both to the property and third party liability insurance. During the negotiations the most advantageous offer for the property, loss of profit, third party liability and terrorism risk insurance was submitted by PZU.

- PZU presented an offer for the comprehensive insurance cover. It demonstrates that we deal with a reliable, experienced and proven business partner. The contract with PZU guarantees obtaining tangible benefits due to the comprehensive insurance programme tailored to the needs of Połaniec Power Plant – says Mikołaj Franzkowiak, vice-president of Enea for financial affairs.

- PZU for many years has been a very close insurance partner for Polish companies, both small entities, and the giants of the Polish economy. We have been servicing the largest Polish enterprises from the energy, fuel, mining, chemical, marine sectors and other branches of the Polish industry. We are the leader on this market with annual turnover totalling to PLN 2.2 billion, which means that the very scale of cooperation with Polish companies would guarantee the position of the fourth insurance company in Poland to PZU’s corporate client division. The most important philosophy of our operations is however not the issue of the scales of our business, but the partnership and consulting on the risks of conducted business operations on all the stages of cooperation with companies. It allows us for ensuring the position of the safety guarantor and continuation of business operations, not only in the period of prosperity but also in unexpected and undesirable circumstances. As an insurer and adviser we secure against these risks – said Katarzyna Grysińska, strategic client director in PZU.

The contracts are effective as of the date of share acquisition, i.e. 14 March 2017, and are valid until mid-2018.

Enea Group is a vice-leader of the Polish power market as regards electricity. It manages the complete value chain on the electricity market: from fuel, through electricity generation, distribution, sales and Customer service. It is responsible for safe supplies of energy to 2.5 mln Customers. Enea Operator owns the distribution network in north-western Poland (ca. 1/5 of the area of Poland). In whole Poland, the Group employs 15.7 thousand Employees who create the innovative commodity and energy company. Two important system power plants belong to Enea Group: Kozienice Power Plant and Połaniec Power Plant. The Group includes also Lubelski Węgiel Bogdanka - the mine is the major supplier of the commodity to power plants belonging to the Group. Enea Group’s operations include also heat energy engineering in plants in Białystok, Oborniki and Piła.

PZU Group is one of the largest financial institutions in Poland and Central and Eastern Europe. PZU Group is number one on the Polish insurance market, as regards both property insurance and life assurance. PZU Group’s strategy until 2020 foresees concentration on the cost area, innovation and growth. PZU will more intensely focus on the insurance business profitability and development of innovative tools within business management and customer service. PZU’s objective is implementation of ambitious growth initiatives in the areas of PZU health, investment and building a strong and profitable position in the banking sector.