The PZU Group’s updated strategy calls for focusing on costs, innovation and growth. PZU will concentrate more strongly on the profitability of its insurance business and developing innovative tools in business management and customer service. PZU’s objective is to pursue ambitious growth objectives in PZU Health and Investments and build a strong and profitable position in the banking segment.
Michał Krupiński, CEO of PZU:
– Today PZU has one of the highest levels of profitability in the insurance sector. However, we are aware that to be able to give investors such a high level of profitability in the future in the face of rapid technological changes, we have to invest in our development. We must constantly grow while staying customer-focused and concentrating on our customers’ evolving needs.
– We will improve the profitability of our business and generate additional shareholder value. While we evolve, we will remain true to our values. We will do what we know how to do best – we will provide Polish nationals a sense of safety when it comes to their property, life and health and their financial future. We will offer our clients modern, innovative and tailor made insurance and savings products in the most effective manner.
– We are striving to develop our business in Poland and on the international markets where we have a footprint. Concurrently, we will pursue ambitious growth projects to procure the ability to continue growing PZU’s value. In particular, we will grow in health care and asset management.
PZU’s strategic objectives until 2020:
- focus on the high profitability of insurance activity coupled with simultaneous growth in selected market segments;
- reduce fixed costs by PLN 400 million within 3 years;
- effectively pursue growth initiatives in Health and Investments;
- build a large and profitable banking group;
- create one of the most innovative insurance groups in Europe;
Key targets pinpointed in the Strategy (level in 2020):
- parent company’s profitability measured by ROE at the level of 18%;
- PZU Group’s non-life market share in Poland equal to 35% and retaining the number of clients in PZU life insurance at the level of 11 million;
- reduction of fixed costs in insurance activity by PLN 400 million by the end of 2018 (compared to 2015);
- reach the level of PLN 100 billion in assets under management, including PLN 50 billion in third party assets (doubling their current value);
- growth in PZU Health’s revenues from PLN 260 million in 2015 to PLN 1 billion in 2020;
- build a banking group belonging to the top five banks in Poland with assets worth more than PLN 140 billion.
