PZAKY Powszechny Zaklad Ubezpieczen SA (PK)

By Patryk Wasilewski

WARSAW--Poland's largest insurer Powszechny Zaklad Ubezpieczen SA (PZU.WA) is interested in further acquisitions in Central Europe after buying four companies in Poland and the Baltic States from RSA Insurance Group PLC (RSA.LN), PZU's Chief Executive Andrzej Klesyk said Thursday.

Embattled U.K. insurer RSA sold its four units--Lietuvos Draudimas in Lithuania; AAS Balta in Latvia; the business of the Estonian branch of Codan Forsikring A/S; and Link4 in Poland--to PZU for 300 million pounds ($498 million) earlier Thursday. The insurer is hungry for regional expansion after failed attempts to buy rivals in southeastern Europe.

Mr. Klesyk added that the transaction, which would add about 6% to its gross written premiums compared with last year, won't affect either its capital position or dividend plans.

Write to Patryk Wasilewski at patryk.wasilewski@wsj.com

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