Listed insurer PZU earned PLN 940 mln in Q1 attributable net profit, beating consensus forecast at PLN 902.5 mln, the firm’s first quarter financial report showed.
A greater than expected surge in investment earnings determined the beat to consensus. PZU further showed visible gains from rising automotive policy prices, offset by claims in the corporate segment.
Gross written premiums rose 4.6% q/q to PLN 5.77 bln with management citing price increases in both corporate and retail automotive, gains in other P&C and individual life insurance premiums on investment-linked products.
