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    PZU   PLPZU0000011

POWSZECHNY ZAKLAD UBEZPIECZEN SA

(PZU)
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Powszechny Zaklad Ubezpieczen : Presentation_PZU Group financial results (Q2 2021)

08/26/2021 | 02:11am EST

PZU Group Financial Results

in 2Q21

Warsaw, 26 August 2021

Table of contents

PZU Group's main accomplishments

Business development

hasło do omówienia

Financial results

PZU Group Strategy in 2021- 2024

Attachments

3

8

17

26

31

2

1. PZU Group's main accomplishments

1. Main accomplishments 2. Business development 3. Results 4. Strategy 5. Attachments

That was a solid six months. We keep our dividend promises

Consolidated net profit1

774

827

318%

185

2Q20

2Q21

Net profit

Impairment loss of bank assets

Dividend per share (PLN)

3.5

2.8

Dividend

2.5

yield3

9%

2.1

1.4

0.0

2015

2016

2017

2018

2019

2020

  1. Net profit attributable to equity holders of the parent company
  2. 1Q21 data

High profitability

Stability and security

Profit distribution

Diversified model

Net profit more than quadrupled y/y

ROE of 17.1% in 2Q21 and 18.7% in 1H21

High solvency ratios, capacity to generate a high recurring capital, solvency ratio significantly above the strategic levels2

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

Business model diversification as the recipe for recurring results: high profitability of non-lifeinsurance, excellent performance of the investment portfolio outpaces the adverse impact exerted by the pandemic

4

3. Dividend yield: dividend of 3.5 PLN per share approved by the OSM in reference to the closing price of 25 August 2021

1. Main accomplishments 2. Business development 3. Results 4. Strategy 5. Attachments

Record 1H sales, with quarterly sales up 11%

Gross written premium and its growth in 2Q21 (bn PLN)

11%

6.2

0.5

5.6

Foreign operations

0.5

+15% r/r

3.5

Non-life3.0

+5% r/r

Life

2.1

2.2

2Q202Q21

  • Acceleration of the revenue growth rate, premium up by 11% y/y in 2Q21 (1% in 1Q21)
  • Dynamic growth of premiums in non-life insurance - premium up by 15% y/y in 2Q21.
    Strong demand for corporate insurance. Motor insurance under pressure from the market's expanding competitiveness and falling prices
  • Protection products with premium growth of 34% y/y were the main driver of premium growth in life insurance. Strong premium growth in investment products (+23.8% y/y)
  • Intensive development of sales through the bancassurance channel: doubling gross written premium y/y from cooperation with PZU Group's banks
  • Ongoing dynamic growth in the demand for private medical services; PZU Zdrowie's revenue up 28.5%1 y/y in 1H21, which included a 39.3% y/y increase in revenues generated by centers
  • Intensive development of the investment pillar - TFI PZU one of the leaders in the sales of funds in 1H21 and market share in ECS, funds continue to attract incoming investments with interest rates at record-breaking low levels
  • Market share in ECS at 36%3, including the net asset value of 822.1 m PLN (>95 thousand companies acquired)

1.

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

5

2.

By the number of companies

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 26 August 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 26 August 2021 06:10:03 UTC.


© Publicnow 2021
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Net income 2021 2 937 M 741 M 741 M
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