PZU net profit down by 10% 2014 y/y

Poland's largest insurer PZU recorded a consolidated net profit of PLN 2.96 billion in 2014, compared with PLN 3.29 billion in 2013, the group reported. A decline of total net profits was 10 percent. The operational profits totaled PLN 3.91 billion, compared with PLN 4.18 billion a year before. The consolidated sales revenues reached PLN 16.88 billion in 2014, whereas it amounted to PLN 16.48 billion in 2013. As of the Q4 2014 the net profits totaled PLN 403.9 million, declined from PLN 528 million, in line with the market forecast (PLN 399.9 million).

The assets of PZU were worth PLN 67.57 billion at the end of 2014.