Locked content Link4 with 1 bln premiums in 2017

Link4, a direct insurance unit of WSE-listed PZU, raised PLN 1 billion in gross written premium last year, CEO Agnieszka Wrońska said. The unit plans the growth to slow down this year but still hopes to reach single-digit growth and expects to expand faster than its competitors. The company had one ...

Locked content PZU hopes to increase its banking assets to PLN 300 bln

WSE-listed insurer PZU plans to increase the value of its banking assets to “at least” PLN 300 billion by 2020, thanks to organic growth, the company’s CFO Tomasz Kulik said. At end-Q3 its value amounted to PLN 236 billion. PZU controls two WSE-listed lenders Pekao and Alior. Asked what percentage o...

Locked content PZU unveils new strategy

WSE-listed, state-owned insurer PZU has raised its return on equity target for 2020 to more than 22 percent in its latest strategy update. Previously that figure stood at 18 percent. The company hopes to achieve it with closer ties with the banks it owns, as well as higher margins on its core insura...

Locked content PZU enters the Lloyd’s market

WSE-listed insurer PZU has entered the Lloyd’s market by becoming the shareholder of Argenta Syndicate Management Limited, one of Lloyd’s subsidiaries. “Argenta’s activity profile in the areas of insurance for the energy sector and large assets is similar to the business profile of PZU o...

Locked content PZU to finish Alior-Pekao merger analysis soon

PZU hopes to end the analysis of the potential merger between Pekao and Alior Bank after the New Year, PZU CEO Paweł Surówka said. He added that the merger is not the only option considered. “We are analyzing, the work is on the side of the banks, we are calmly waiting for what will happen,… ...

Locked content PZU with PLN 700 mln Q3 net profit

WSE-listed, state-owned insurer PZU recorded a PLN 700 million net profit in Q3, up by 7.9 percent y/y. Gross written premium reached PLN 5.32 billion, up by 10 percent y/y, while EBIT amounted to PLN 1.69 billion compared to PLN 910 million last year. “The group has PLN 300 billion in assets, which...

Locked content Pekao to tighten cooperation with PZU, Alior – CEO

According to the CEO of WSE-listed, state-owned Bank Pekao, the lender should increase its cooperation with its owned, WSE-listed insurer PZU, and another lender owned by PZU – Alior. “Our branches have a large potential for bancassurance, while PZU branches for assurbanking,” Michał Krupiński said,...

Locked content PZU doesn’t plan on buying more bank assets – CEO

WSE-listed insurer PZU doesn’t plan any new acquisitions in the banking sector, but might be tempted to acquire other assets across the group if the investment opportunity arises, the PZU representatives said. “I do not think PZU wants to buy a new bank, but if it is a question of whether a group of...

Locked content PZU Q2 profit soars

WSE-listed, state-owned insurer PZU recorded a PLN 506 million consolidated net profit in Q2, up by 201.2 percent y/y, and down by 46.2 percent q/q. Gross written premium reached PLN 5.83 billion in Q2, up by 15.4 percent y/y. For H1, the gross written premium amounted to PLN 11.6 billion, which is ...

Locked content PZU expects PLN 200 mln in claims after last week’s storms

WSE-listed, state-owned insurer PZU has received 26k claims following storms last week so far, and estimates potential damages at around PLN 200 million, company’s CEO Paweł Surówka said. “We had estimated that the number of damage claims following the storms would exceed 30k and at this point, 26k ...