PZU Group, 1Q2019: The best first quarter results obtained by the Group
PZU Group generated an amount of PLN 5.9 billion gross written premiums (GWP) in 2019 first quarter, higher than PLN 5.8 billion GWP seen in Q1 of 2018. The net profit increased by 19.1%, compared to the same period of prior year, to PLN 747 million.
Property & Casualty combined ratio stood at 87.0% level. The profitability of life insurance segment has slightly increased, by 0.2 pp. y-o-y. PZU Zdrowie number of new contracts increased by 46%.
"The results of the first quarter of 2019 are the proof of the implementation of 2017-2020 strategy. We have achieved a record of gross premiums written in this quarter, while significantly increasing our net result. Special attention should be paid to the large increases in the area of investments, where the result is higher (...). These results show that the PZU Group has solid foundations and very good prospects for the entire year."