PZU net profit plummets in Q1 y/y

Poland's largest insurer PZU reported a consolidated net profit of PLN 486.6 million in Q1 2016, compared with PLN 941.33 million in Q1 2015, the company announced in a financial statement. The company's operating profit stood at PLN 688.2 million in Q1 2016, versus PLN 1.15 billion one year before. Gross revenue from premiums came in at PLN 4.8 billion in Q1 2016, while in Q1 2015 it amounted to PLN 4.68 billion.