In 2018 the PZU Group posted its highest annual net profit in 5 years at the Group level (PLN 5.4 billion). Gross written premium hit a new record in the PZU Group’s history in the full year 2018 (PLN 23.5 billion) and Q4 2018 (PLN 6.2 billion).
“2018 was a spectacular year for PZU and a crucial milestone from the viewpoint of executing our strategy. We not only beat our own records in terms of net result and sales, but we also achieved all of the major objectives we set for ourselves in 2018. The value of insurance sold increased by PLN 623 million to the record-breaking watermark of PLN 23.5 billion while the Group’s net profit increased by PLN 1.2 billion to PLN 5.4 billion. The parent company’s profit was PLN 3.2 billion, thereby implying an ROE of 22.1%, or a level above the strategic ambitions for 2020. This above average return on equity should predominantly be credited to our stable and loyal client base, high operating efficiency and attractive and competitive offer. Thanks to these factors, we are capable of maintaining a high and recurring level of profitability in our core underwriting business”, said Paweł Surówka, CEO of PZU.
“Another year of pursuing the ambitious strategic objectives laid down in the #newPZU strategy is now behind us. These objectives will aid us to enhance the quality and frequency of client interactions to an even greater extent. While relying on digital innovations we have forged a coherent and integrated approach to the products and services we offer. We have also completed projects such as the myPZU service platform supporting the purchase of insurance, health and investment products and the inPZU platform to sell investment products. We are deploying the PZU GO solution to augment safety on the road and help save human lives. We have elevated the efficiency of client service by harnessing robotics and mobile technology. We have created a friendly environment to cultivate innovation. In 2018, we executed 15 pilot projects in data use, digitization of processes and client interactions while testing telematic solutions. We are confident that this description of our offer will form the basis for our long-term competitive edge in an environment in which fintechs and startups are playing an ever more significant role”, he added.
More information about PZU’s financial results are available on the insurer’s website: https://www.pzu.pl/en/investor-relations/downloads/investor-kit
