LM Pay Signs a Letter of Intent for Cooperation in Insurance Financing with a Leading Insurance Broker in Poland

On October 17, 2024, LM PAY S.A. (ISIN: PLLMPAY00016), the market front-runner in bank-independent financing of medical and aesthetic services for private customers based in Warsaw, Poland  and CUK Ubezpieczenia Sp. z o.o. signed a Letter of Intent to collaborate on insurance financing. CUK Ubezpieczenia is one of the leading multi-agency insurance brokers, selling insurance in over 500 locations across Poland and cooperating with 4,000 insurance advisors. 

The companies aim to offer insurance combined with loans. LM PAY S.A. will provide a system for financing insurance premiums, while CUK Ubezpieczenia will promote these services to its clients. Preparations for IT integration are scheduled to begin in October 2024, with the operational launch expected in the first quarter of 2025.

The collaboration aims to increase the availability of both insurance and financial services while improving liquidity for households and businesses. Clients will be able to either defer their insurance premium payment interest-free for up to 30 days or pay it in instalments.

The Letter of Intent is not legally binding, but both parties intend to continue negotiations in good faith, with the goal of finalizing a cooperation agreement by December 31, 2024.

For further information, please contact:

LM PAY S.A.

Grzegorz Pieszak

Lechicka 23A

01-156 Warsaw

Poland

Investor Relations

+48 881 780 994
investors@lmpay.pl