By Patryk Wasilewski
WARSAW--Poland's top insurer Powszechny Zaklad Ubezpieczen S.A.
(PZU.WA) reported Tuesday a smaller-than-expected 6.5% drop in
second-quarter net profit.
Net profit reached 837 million zlotys ($264 million), topping
analyst expectations of PLN776 million, driven below the
year-earlier result by the weaker performance of financial markets
and the company's financial assets portfolio.
The insurer's gross written premiums reached PLN4.07 billion in
the April-June period, up 3.8% from a year earlier, falling short
of market expectations of PLN4.09 billion.
Net claims in the period dropped to PLN2.73 billion, while
analysts expected net claims to rise to PLN2.88 billion.
Write to Patryk Wasilewski at patryk.wasilewski@dowjones.com
Order free Annual Report for Powszechny Zaklad Ubezpieczen
SA
Visit http://djnweurope.ar.wilink.com/?ticker=PLPZU0000011 or
call +44 (0)208 391 6028
Order free Annual Report for Powszechny Zaklad Ubezpieczen
SA
Visit http://djnweurope.ar.wilink.com/?ticker=US7393791055 or
call +44 (0)208 391 6028
Subscribe to WSJ: http://online.wsj.com?mod=djnwires