PZAKY Powszechny Zaklad Ubezpieczen SA (PK)

WARSAW--Poland's top insurer, PZU SA (PZU.WA), said its first-quarter earnings rose 24% from a year earlier to 941 million zlotys ($258 million), on higher premiums and the rising value of its financial assets.

Analysts polled by state news agency PAP expected a net profit of PLN891 million.

Gross written premiums rose 7.5% to PLN4.68 billion zlotys from PLN4.35 billion a year earlier.

Higher earnings on financial assets, including a PLN478 million gain in their market value and PLN117 million in increased value of other investments, offset a rise in the company's paid out claims, the quarterly report showed.

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

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