By Patryk Wasilewski

WARSAW--Poland's top insurer Powszechny Zaklad Ubezpieczen SA (PZU.WA) said Wednesday it plans to pay 4.66 billion zloty ($1.53 billion) in dividends from its 2013 earnings.

The company also reported a slightly bigger-than-expected earnings drop for the first quarter due to higher client acquisition and administrative costs.

PZU's net profit in the first three months reached PLN760 million, a touch below the PLN771 million expected by analysts.

Write to Patryk Wasilewski at patryk.wasilewski@wsj.com

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