Insurance giant PZU records rocketing first quarter results

Meanwhile, its subsidiary specializing in life insurance, PZU Życie, saw its Q1 profit up by 225% to zł.225.6 million. The group's very positive financial results were mainly a result of beneficial investments, as revenues from long-term deposits increased by almost 47% to reach zł.978 million. The value of the company's deposits at the end of March was zł.33.87 billion, while the group's assets were estimated at being zł.36.29 billion. However, the overall value of policies taken out with PZU fell by 1.8% in Q1 to zł.3.5 billion, mainly due to poorer results from non-life insurance activities, particularly from its car insurance business. (Puls Biznesu, p. 10) A.K.