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    PZU   PLPZU0000011

POWSZECHNY ZAKLAD UBEZPIECZEN SA

(PZU)
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Powszechny Zaklad Ubezpieczen : Presentation - PZU Group financial results (Q3 2021)

11/18/2021 | 01:32am EST

PZU Group's Financial

Results

in 3Q21

Warsaw, 18 November 2021

Table of contents

PZU Group's main accomplishments

Business development

slogan to be discussed

Financial results

PZU Group Strategy in 2021-2024

Attachments

3

8

17

26

33

1. PZU Group's main accomplishments

1. Main accomplishments

2. Business development

3. Results

4. Strategy

5. Attachments

We deliver high returns on equity in volatile market conditions

PZU Group's ROE (%)1

+8.6 p.p.

17.9

18.8

17.1

17.7

9.3

09.2020

09.2021

1Q21

2Q21

3Q21

Dividend per share (PLN)

High profitability

Return on equity of 17.7% in 3Q21 and 17.9% in the first three quarters

of 2021

Business model diversification as the recipe for recurring results: high

Diversified model

profitability of non-life insurance, return to high profitability of life

insurance following an intensive pandemic period

3.5

2.8

Dividend

Stability and security

2.5

yield3

9%

2.1

1.4

0.0

2015

2016

2017

2018

2019

2020

Profit distribution

  1. Net profit and equity attributable to equity holders of the parent company
  2. 2Q21 data
  3. Dividend yield: dividend per share of 3.5 PLN paid in reference to the closing share price on the day before the dividend cutoff date

A- rating upheld, high solvency ratios, capacity to generate a high recurring capital generation, solvency ratio substantially better than posited in the strategy following the dividend disbursement2

Dividend paid of 3.5 PLN per share, which translates into a dividend yield of 9%3

4

1. Main accomplishments

2. Business development

3. Results

4. Strategy

5. Attachments

Record-breaking sales in the first 3 quarters exceeding 18 bn PLN

Gross written premium and its growth in 3Q21 (bn PLN)

5.5%

5.9

5.6

+12% y/y

0.6

Foreign operations

0.5

Non-life

2.9

3.2

+10% y/y

Life

2.2

2.2

-1% y/y

3Q203Q21

  • Sustaining the pace of top line growth, premium up 5.5% y/y in 3Q21
  • Dynamic premium growth in non-life insurance - premium in 3Q21 up 10% y/y. Strong demand for non-motor insurance (+20% y/y). Gross written premium in motor insurance trended up 4% y/y despite higher competition on the market and falling prices
  • Individual protection products seeing 10% premium growth acting as the major driver of the premium change in life insurance
  • Intensive sales growth in the bancassurance channel: gross written premium attracted in collaboration with the PZU Group's banks more than doubled y/y
  • Continued dynamic growth in the demand for private medical services; PZU Zdrowie's revenue up 26.3%1 y/y in the first three quarters of 2021, with the revenue generated by health centers up 32.4% y/y
  • Intensive development of the investment pillar - assets under management grew by 23% to PLN 37.5 bn at the end of 3Q21, with assets held by TFI PZU seeing growth of 26% y/y. TFI PZU the leader in terms of incoming assets among non-bankTFIs in 3Q21
  • Net Asset Value in Employee Capital Schemes (PPK) at 1.1 bn PLN - assets quadrupled from a year ago and up 35% versus 2Q21

1.

Data presented for the centers for the period from the beginning of the year regardless of the time of acquisition

5

This is an excerpt of the original content. To continue reading it, access the original document here.

Disclaimer

PZU - Powszechny Zaklad Ubezpieczen SA published this content on 18 November 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 18 November 2021 06:31:03 UTC.


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Sales 2021 25 242 M 6 338 M 6 338 M
Net income 2021 2 937 M 737 M 737 M
Net Debt 2021 - - -
P/E ratio 2021 10,5x
Yield 2021 7,35%
Capitalization 31 167 M 7 824 M 7 826 M
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Number of Analysts 9
Last Close Price 36,10 PLN
Average target price 41,62 PLN
Spread / Average Target 15,3%
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Beata Kozlowska-Chyla Chief Executive Officer
Pawel Karol Mucha Chairman-Supervisory Board
Maciej Zaborowski Member-Supervisory Board
Robert Snitko Secretary & Member-Supervisory Board
Robert Jastrzebski Member-Supervisory Board
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