POLAND: NEUCA Group’s insurance segment increases its operating profit by 69% in 1H

8 September 2026 — Marina MAGNAVAL
In the first half of 2026, NEUCA Group's insurance segment, whose main company is TU Zdrowie, generated an operating profit of PLN 9.5 million (~EUR 2.21 million), which is 69% more y-o-y. Revenue increased by 12%, to PLN 116.2 million, while the number of policyholders reached 333,000.

In the second quarter alone, the segment's revenues amounted to PLN 59.5 million and were 14.3% higher y-o-y. Operating profit increased by 25%, to PLN 6.1 million, Gazeta Ubezpieczeniowa (Insurance Gazette) wrote.

EBITDA, or earnings before interest, taxes, depreciation, and amortization, increased by 24% to PLN 6.4 million. This reflects profitability of the company's core business, excluding, among other things, financing methods and asset wear and tear. The EBITDA margin was approximately 10.8%.

According to NEUCA Group, the half-year results were driven by the sale of new policies, price increases for renewals and implementation of a new model of patients’ support. This segment primarily encompasses health insurance sales by TU Zdrowie. The Group also handles some claim settlement for other insurance companies.

Medical operator Świat Zdrowia generated PLN 134.4 million in revenue in the second quarter, up 17%. Its EBITDA increased from PLN 6.3 million to PLN 12.5 million. Combined revenues for the medical operator and insurance segments reached PLN 193.8 million in the second quarter. Both segments generated a combined EBITDA of PLN 18.9 million. For the entire first half of the year, the EBITDA was PLN 38.3 million.

Combination of these two businesses allows NEUCA Group to sell health insurance and simultaneously organize medical services covered by it. The medical operator serves more than just TU Zdrowie. It also collaborates with other insurers.

The entire NEUCA Group generated nearly PLN 3.6 billion in revenue in the second quarter, up 9.3% y-o-y. Its EBITDA increased by 32.3% to PLN 98.8 million, and net profit attributable to shareholders of the parent company increased from PLN 19.8 million to PLN 40.8 million, the source added.

TU Zdrowie is the only Polish insurance company specializing in healthcare, which offers the largest network of medical facilities throughout Poland.

*EUR 1 = PLN 4.29 (as of July 1, 2026)



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