Michael KRUPINSKI, head of PZU, awarded "Insurance Manager of the Year 2016" in Poland
"It is impossible not to appreciate the momentum and dynamics presented by PZU in 2016," the jury has motivated its decision. In fact, 2016 was a particularly good year of the Polish financial group, including its insurance units. PZU has made two important acquisitions in the banking field, becoming an important shareholder of the Pekao and Alior banks, taking steps in fulfilling its strategic goal of becoming one if the Top 5 banking players in Poland. On the other hand, the group has developed the Witelo Fund - a fund designed to provide for the Polish innovative know-how and major technology investors. In addition, TUW PZUW, the youngest company in the PZU Group, was established last year as a large mutual insurance company which will operate mainly on the energy segment.
In the financial sphere, since the Michael KRUPINSKI's mandate beginning, PZU succeeded in increasing its consolidated net profit in Q3 by over 27% y-o-y, by reducing fixed costs while improving income. PZU's President of was also positively evaluated the new dividend policy. All these initiatives resulted in a valuation of the company, whose shares since the announcement of the new strategy in August 2016 rose by nearly 23% (30% excluding the September cut-off value of dividends).
"I'm honored and at the same time very satisfied that our work is not only noticed, but also rewarded by the industry, as members of the jury were representatives of other insurance companies. I want to emphasize that the awards are merit of the whole team PZU. I promise that both awards will mobilize all of us for the consistent implementation of its objectives. I am convinced that in the coming years, PZU will continue to be placed as a model to follow," stated Michal KRUPINSKI in his acceptance speech.
The "Most friendly insurance company" and "Insurance Manager of the Year" awards are granted every year by "Gazeta Bankowa", based on dedicated questionnaires filled out by the insurers and the decision of the jury.