PZU with PLN 940 mln attrib. net profit in Q1

WSE-listed insurer PZU posted a PLN 940 million net profit for Q1, a 91,1 percent increase y/y. The impressive result comes from better investment results, its car insurance business and a mild winter which meant less compensation for farmers, the company said in a market filing. Gross written premiums rose to almost PLN 5.76 billion from PLN 4.8 billion a year earlier. Operating profit amounted to PLN 1.25 billion versus PLN 716 million the year before.