PZU Q3 results shows its profits continue to boom

The group's sales grew by 4%. "Such a good result also stems from significantly better results achieved from investing the company's assets. In the case of both PZU and PZU Życie life insurance company, it is caused by the increase of revenues from T-bonds and profitable investments on the Warsaw bourse," stated PZU group's spokesperson Tomasz Fill. The largest share in the group's result after three quarters of 2005 is attributed to the property insurance company the net profit of which totaled zł.1.54 billion and was 65.2% higher than last year. Its revenues from premiums increased by 1.7% and amounted to zł.5.9 billion. "This is the result of increased sales of public liability insurance and accident insurance as well as financial and agricultural insurance," explained Tomasz Fill. The life insurance company generated a net profit of zł.973.4 million i.e. 68.6% more than last year while its revenues from premiums grew by 6.9%. (Puls Biznesu, pp. 1, 12; Parkiet, p. 7) E.B.