The Group expanded its passive fund portfolio with three ETFs and developed projects implementing its strategy, including the merger of PZU with LINK4.
The PZU Group's gross insurance revenues increased by 3.2% in the first quarter of 2026. Net profit attributable to shareholders of the parent company in the first three months of 2026 was down 22.6% y-o-y. Life insurance saw revenue growth across all business lines. Group insurance, which accounted for 88% of life insurance revenue in Poland, saw revenues increase by 5.5%, while profitability improved to 21.7%. In property insurance, the PZU Group recorded a 7.8% y-o-y increase in mass non-motor insurance. This was driven, among other things, by the development of housing products and increased sales of insurance for small and medium-sized enterprises.
Despite pricing and competitive pressures in motor insurance, improvement was recorded in corporate motor insurance (+9.4%), both in third-party liability and comprehensive insurance. The COR for property insurance increased by 4.3 percentage points to 86.8%, primarily due to continued price and cost pressures.
"The beginning of the year was particularly intense for us – we worked on the next steps in implementing our strategy and strengthening the PZU Group's position. We announced the merger of PZU and LINK4", commented Bogdan Benczak, CEO of PZU. "We ended the first quarter with a solid financial result, achieved in challenging geopolitical conditions", he added. " The first quarter of 2026 was a period of intense implementation of key strategic initiatives for us. We are continuing the process of consolidating our operations in Poland, including the planned merger of PZU with LINK4, which will allow us to fully leverage the complementarity of both brands. We see this as a potential for further development of distribution channels and significant improvements in operational efficiency and capital utilization", said Bogdan Benczak.
"We are systematically increasing shareholder value. Since its stock exchange debut, PZU has already paid out nearly PLN 37 billion in dividends. This year, the Management Board recommended allocating a further PLN 4 billion for this purpose. The proposed value exceeds the strategic ambitions for this goal in 2027”, the PZU CEO emphasized.
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