WARSAW--Polish state-controlled insurer Powszechny Zaklad
Ubezpieczen SA (PZU.WA) Thursday reported an 2.9% annual fall in
net profit due to lower income from its vast financial
portfolio.
The insurer's earnings between July and September fell to 1.09
billion zlotys ($350 million), exceeding expectations of a fall to
PLN919 million.
In PZU's core insurance business, gross written premiums fell
only marginally to PLN3.91 billion, but were below expectations of
PLN4 billion.
Net claims paid by the insurer decreased 5.6% on the year to
PLN2.75 billion, in line with expectations.
Write to Marcin Sobczyk at marcin.sobczyk@wsj.com
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