The PZU Group has achieved in H1 2019 the highest net financial result attributed to the parent company for the first half of the last five years, of PLN 1.48 billion, while the group’s efficiency ratios were better than planned.
Commenting on the Group’s results, Paweł Surówka the President of the Board of PZU SA expressed his satisfaction with the financial results, but also stressed that besides pure financial efficiency, PZU aims to position itself as a long-term partner of Poles in building a longer and more comfortable life, a goal sustained by the Group’s scale and strong financial position.
„The first half of 2019 also showed us that we maintain a high level of ability to implement the announced changes, such as achieving subsequent stages of the digital transformation of PZU, or reaching millions of Poles with our message and offer,” he added.
Premiums written from property and other personal insurance in the second quarter of 2019 amounted to PLN 3.3 billion – a stable level y/y excluding the long-term contract concluded in the second quarter of 2018.
Acceleration of premium growth from non-motor retail insurance was 6% y/y in Q2 2019, reflecting the good economic situation and strong competitive position of PZU.
Acceleration of premium growth from individual protection insurance amounted to + 37% y/y in Q2 2019; despite unfavorable market conditions for unit-linked products and positive dynamics of annotation in the entire life segment for the first time in six quarters.
Moreover PZU informed that it had signed contracts for the management of Employee Capital Plans (PPK) with partners employing a total of over one hundred thousand employees.
The insurer also recorded at increase in the number of PZU Zdrowie contracts by 31% y/y.
