PZU Zycie notes massive yoy increase in revenues

By the end of September PZU Zycie collected zl.5.83 billion in premiums which was 31.6% more than in the same period in 2005. The company developed dynamically also in the following months and is currently the largest insurance company in the country. "By the end of October, gross premiums collected amounted to zl.6.53 billion. We estimate that at the end of the year our revenues will exceed zl.8 billion,"stated Henryka Rupik, the deputy president of PZU Zycie who is responsible for sales. She admitted that the dynamic growth of revenues is due to the policies linked to investment funds. In October the company introduced a new investment product called "Strefa zysku" which is distributed through a network of 500 agents. The agents are to form a basis for a new exclusive PZU Zycie network. "Having our own network is important as over the coming years we want to concentrate on the development of our core business, i.e.life and health insurance," stated Rupik. The agents currently generate 15% of the company's revenues. "We want to increase the figure to 30% by 2010,"declared Rupik. (Puls Biznesu, pp. 1, 11) E.B.