PKO Ubezpieczenia has published its financial results after 2018. The insurer achieved record profits.
In 2018 the company’s profit was PLN 59.6m, 69% more than in 2017. Gross written premium increased to PLN 1.088m: 501.1m in the life insurance sector and 586.9m in the P&C sector.
“It was very good year for us. We earned record financial results and recorded sale growths in every important product line. Thanks to effective improvements and achieving our development strategy plan we have a profitable business. The professional client service is our priority. We are looking for new technology solutions, which will perfect this area in the long term” summed up Sławomir Łopalewski, PKO Ubezpieczenia CEO.
Thanks to sales growth the insurer strengthened its position on the bancassurance market. PKO Ubezpieczenia’s market share is 13%, in the scope of protect products: 27%.
The company plans to search for new profitable areas of its business development. The insurer wants to progress its product offer and operational process. It plans to extend PKO Ubezpieczenia’s scale of business and activity.
The insurer’s aim is to become the leader in the bancassurance market. The company wants to increase its market share and entry to the group of the biggest insurance companies in Poland. Currently PKO Ubezpieczenia services 1.7 mln clients.
