Polish insurance group PZU recommends allocating PLN 2.64 bln of the 2019 profit of PLN 2.65 bln to retained earnings in line with the regulator’s stance. PZU will also put PLN 7.3 mln to a reserve for the employee social benefits fund.
On 26 March the financial market regulator KNF head Jacek Jastrzebski said banks and insurers were expected to retain entire profits from prior years amid the ongoing coronavirus epidemic. Read more: KNF: banks and insurers asked to retain entire profits amid coronavirus epidemic
