Robust net result in challenging market conditions
PZU Group's net profit1
754
-4.2%
722
164
203
2Q21
2Q22
Net profit
2
Higher provisions in individual continuation due to higher indexation Protection system and CHF legal risk in banks
Net profit and equity attributable to equity holders of the parent company, 2Q21 net profit adjusted
Recognition in the mathematical provisions of the impact exerted by higher indexation rates on the sums insured in the individually continued portfolio in the next 12 months (impact exerted by rising inflation)
Diversified model
High profitability
Positive impact of interest rates
Stability and security
Diversifying the business model builds resilience to economic and market turbulence
Return on equity of 18.1% - above strategic ambitions
high profitability of non-lifeinsurance
regaining profitability in life insurance following COVID
high profitability of banking activity
Optimum conditions for reinvesting the long-term bond portfolio Rising interest margin in the banking business
Market environment positively verifies the adopted investment strategy
Rating A-
High solvency ratio, substantially better than posited in the strategy, safe and diversified investment portfolio
4
1. Main accomplishments
2. Business development
3. Results
4. Strategy
5. Attachments
Stable business development
Gross written premium and its growth in 2Q22 (bn PLN)
3.2%
6.4
6.2
+17% y/y
0.6
Foreign operations
0.5
Non-life
3.5
3.7
+8% y/y
Life
2.2
2.0
-7% y/y
2Q21
2Q22
In 2Q22 gross written premium reached the level of 6.4 bn PLN, stable growth in strategic business lines
Further growth in non-motor insurance sales in 2Q22 (+8.0% y/y), especially in the corporate insurance segment (+24.0% y/y)
Acceleration in MOD - growth of gross written premium of +16.4% y/y. Thanks to that, the gross written premium in motor insurance was up 7.5% y/y despite falling prices
Further dynamic growth in the demand for private medical services; Health pillar revenue up 15.6%1 y/y in 1H22, high growth in revenue generated by medical centers (+16.9% y/y) and in insurance and subscriptions alike (+14.4% y/y)
Investment pillar - TFI PZU's position on the challenging market is getting stronger - PZU TFI has the largest sales growth versus net outflows on the market of 20 bn PLN
Net Asset Value in PPK at 1.8 bn PLN up by more than 100% in the last 12 months. First place in terms of the number of acquired companies and second place measured by assets
1.
Data presented for the medical centers for the period from the beginning of the year regardless of the time of acquisition
5
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PZU - Powszechny Zaklad Ubezpieczen SA published this content on 25 August 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 25 August 2022 05:37:04 UTC.
Powszechny Zaklad Ubezpieczeñ Spólka Akcyjna is one of the leading insurance groups in Poland. The group also develops pension and investment funds management activities. Gross written premiums break down by activity as follows:
- non-life insurance (64.3%): car insurance (57.8% of gross written premiums), fire and damage insurance (22.3%), accident and health insurance (6.8%), liability insurance (6%) and other (7.1%);
- life insurance (35.7%).
Gross written premiums are distributed geographically as follows: Poland (91.2%), the Baltic states (7.4%) and Ukraine (1.4%).
POWSZECHNY ZAKLAD UBEZPIECZE? SPÓLKA AKCYJNA 
