The 400th Financial Supervisory Authority (KNF) meeting was held on 31 July 2018.
The Authority gave Marta Małek-Bernadzikowska consent to become the board member responsible for risk management of both of TU EUROPA’s companies.
The Authority imposed a financial penalty on Pocztowe TUW for delays in granting and paying out damage claims. The sanction amounts to PLN 40,000. The insurer was punished for the second time. The previous penalty amounted to PLN 50,000. Read more: 376th Financial Supervisory Authority meeting: penalties for Pocztowe TUW and Allianz.
KNF also lowered its decision about the financial penalty imposed on TUZ TUW. The insurer had to pay PLN 260,000 for estimating premiums on a level which do not ensure the performance of the insurance contractual obligations and coverage costs of the insurance company’s activities in the years 2011-2015 in the insurance of groups 3 and 10. Currently the insurer has to pay PLN 207,000. The change is caused by lower level of premiums collected by the insurer than was estimated. Read more: Punishments for the “price war” in the MTPL insurance sector
The Authority positively examined the application about takeover shares of two companies of Compensa TU by Vienna Insurance Group. KNF indicated that the transaction should be finalized by the end of the year.
The next Financial Supervisory Authority meeting will be held on 21 August 2018.
