Listed insurance group PZU won’t likely retain profitability levels recently achieved in automotive insurance despite a „certain stability” in the current period, CEO Pawel Surowka said during a news conference.
„Faith in the possibility that profitability in automotive insurance is once-and-for-all stable at [a combined ratio of] 93-94% would be the wrong approach,” Surowka told the Q3 earnings briefing.
PZU enjoyed a combined ratio of 94.3% in its automotive segment in Q3, which Surowka calls a „certain stability” after a period of „rather strong changes.”
