Q3 2025 Powszechny Zaklad Ubezpieczen SA Earnings Call Transcript
Key Points
- Powszechny Zaklad Ubezpieczen SA (PWZYF) reported a consolidated profit of PLN5.2 billion after 9 months, showcasing strong financial performance.
- The company achieved significant growth in non-life insurance, particularly in non-motor insurance, with a 27% year-to-year growth in insurance service.
- Powszechny Zaklad Ubezpieczen SA (PWZYF) has a robust capital position with a solvency ratio of 246%, which is above the EU average for European insurers.
- The company experienced a 2-digit growth in individual life insurance and health insurance segments, indicating strong market demand and effective sales strategies.
- Powszechny Zaklad Ubezpieczen SA (PWZYF) maintained a high return on equity (ROE) of 22.1%, reflecting efficient management and profitability.
- The company faced a 9% drop in revenue from corporate clients, indicating challenges in maintaining corporate business growth.
- There is a competitive pressure in the TPL market, with the market moving towards a 'soft cycle,' which could impact profitability.
- Interest rates are expected to decrease, potentially affecting investment income and the contribution from the banking pillar.
- Higher corporate income tax for banks is anticipated to impact the company's financial results.
- The company is facing challenges in the Lithuanian market due to a newly introduced 10% tax on insurance revenues, which could affect profitability.
Good afternoon. Welcome warmly at the PZU Group results for the third quarter 2025 presentation. It will be led by our CEO, (inaudible) and Tomas Kulik, CFO of PZU Group and Management Board member of other PZU companies.
Good afternoon. I'm extremely pleased to welcome you at the presentation of the PZU Group results after 9 months. That's my lifetime and first-time opportunity to -- for me, to manage this presentation. So please understand my unwanted mistakes. Let me start with the key achievements and plans.
As you have already seen in our press release, and in our stock exchange communication after 9 months, we've reached PLN23.1 billion sales with the consolidated profit of PLN5.2 billion capital position, PLN230 million salability and 246% stand-alone solvability in the dividend deal for the dividend paid in October is at around 8%. AOE is at the level above 20%. That's a very good position at sort of a head start for me as the acting CEO of the PZU Group.
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