PZU profits beat expectations
PR dla Zagranicy
Roberto Galea
13.05.2015 11:45
The largest insurer in CEE, PZU, has published a Q1 profit of PLN 941.3 million, exceeding analyst expectations.
Photo: PZU
Analysts quoted by the Reuters news agency had forecast a net profit of PLN 885 million in the first three months of the year – a 16-percent rise over the previous year.
In fact, PZU managed to increase its results by 24 percent.
The better-than-forecast figures were a result of acquisitions in 2014, as well as investment-income growth, the company said on Wednesday.
In terms of gross written premiums, state-controlled PZU saw a y/y rise of 7.5 percent, to PLN 4.68 billion, slightly shy of Reuters forecasts of PLN 4.7 billion. (rg)