Locked content PZU launches investment fund sales platform

WSE-listed, state-run insurer PZU launched a sales platform for its investment fund products, inPZU, where it will offer six passive funds with management fee capped at 0.5 percent of AuM, the company said in a market filing. “We hope that thanks to the simple intuitive solutions on our website, we ...

Locked content PLN 2.16 billion dividend for PZU shareholders

PZU Management has recommended the payment of dividend from profits for 2017 amounting to PLN 2.16 billion, or PLN 2.50 per share, the company said in a statement. The Management Board proposed that the dividend day be set for September 12, 2018, and payment of dividends on October 3, 2018. In March...

Locked content KNF fines PZU for PLN 1.7 mln

Financial Supervision Authority KNF slapped WSE-listed insurer with a PLN 1.7 million fine for delays in granting and paying out claims or not reporting obligations. According to Polish insurance regulations, the company has to pay compensation within 30 days, counting from the day the injured party...

Locked content PZU CEO: Pekao and Alior cooperation analysis should be known soon

Talks on the cooperation between Bank Pekao and Alior Bank are still ongoing and PZU hopes that it will know the results of this analysis soon. The insurer excludes scenarios that would benefit a single bank from the group at the expense of the other, said PZU CEO Paweł Surówka. “At this point, the ...

Locked content PZU Q4 profit grows

WSE-listed insurer PZU recorded a PLN 764 million net profit in Q4, up by 22 percent y/y. Gross written premium reached PLN 5.91 billion, up by 7.3 percent y/y. For 2017, PZU recorded PLN 2.91 billion net profit compared with PLN 1.93 billion profit in 2016. Operating profit amounted to PLN 5.51 bil...

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,… ...