Powszechny Zaklad Ubezpieczen SA (STU:7PZ)
€ 15.25 +0.12 (+0.76%) Market Cap: 13.21 Bil Enterprise Value: 26.99 Bil PE Ratio: 0.46 PB Ratio: 1.54 GF Score: 84/100

Full Year 2025 Powszechny Zaklad Ubezpieczen SA Earnings Call Transcript

Feb 26, 2026 / 12:00 PM GMT
Release Date Price: €15.89 (-2.93%)

Key Points

Positve
  • Powszechny Zaklad Ubezpieczen SA (PZAKY) anticipates a favorable solvency ratio of 125 to 100 in 2026, indicating strong financial health.
  • The company is optimistic about a 6-7% market growth rate, particularly in the non-motor insurance sector.
  • Powszechny Zaklad Ubezpieczen SA (PZAKY) has a competitive advantage with its exclusive agents, who are highly profitable.
  • The inward reinsurance has reached an unprecedented scale, providing a significant boost to the company's profitability.
  • The company is focusing on building an effective external distribution system through multi-agencies, enhancing its market reach.
Negative
  • The motor insurance sector remains uncertain, posing potential challenges to growth in this segment.
  • The extraordinary winter weather could negatively impact Q1 results due to potential claims.
  • Internal restructuring and creating a holding is a complex process that may take two to three quarters to adapt to new legal regulations.
  • There was a drop in investment results in the insurance sector due to tactical decisions concerning bonds and financial instruments.
  • High expenses in non-insurance business, particularly in the health pillar, have been noted, affecting overall profitability.


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E D I T E D V E R S I O N

PZU.WA - Powszechny Zaklad Ubezpieczen SA
Full Year 2025 Powszechny Zaklad Ubezpieczen SA Earnings Call
Feb 26, 2026 / 12:00PM GMT

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Presentation
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And we We already discussed the fact that the new solvency II is already included in your targets, but, could you provide us with, guidance, because about around a year ago there was guidance that if the solvency II is imp implemented without any changes at all.

There will be a a capital excess in the group, around 1.2 billion, 1.5 billion, is this right?

Well, it depends on how you calculate it and seriously.

This is how I would like to answer this question.

Where are we in terms of growth?

So, Think about the the the outlook for this year and how it eventually evolved because no one expected that the this year to be so favorable in terms of the weather.
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