The insurer PZU will likely avoid notable financial impact from storms bearing estimated claims of PLN 200 mln, in part on the group’s reinsurance policy, officials told a briefing.
Five people died and more than 170,000 people were left without power and 800 buildings were damaged in storms that hit mostly Poland’s north and west in August.
„Claims from the storms were significant, but probably didn’t hit our results so exceptionally,” CEO Pawel Surowka told reporters.
„I would not expect a significant impact on financial results,” the chief of the life insurance unit Roman Palac added. The claims sum around PLN 200 mln will not show up in a single booking and will be offset by reinsurance „which helps us out,” he said.
