Earnings Poll: Polish insurer PZU's Q3 net profit expected to fall 21% y/y

Ipopema Securities SA

23/11/2022 12:51

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      PZU Q3 results due Nov 24
    

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      PZU Q3 net profit forecast at 599 mln zlotys
    

  
       GDANSK, Nov 23 (Reuters) - Polish state-run insurer PZU
SA  PZU.WA  is expected to report a 21% year-on-year fall in its
third-quarter net profit due to  negative impact of credit
holidays on the banking sector, a Reuters poll showed on
Wednesday.
    PZU, the biggest insurer in the region, is expected to
report a net profit of 599 million zlotys  ($130.75 million),
the average forecast from five banks and brokerages showed.
     That would put net profit for the first nine months of 2022
at 2.08 billion zlotys.
    The following table summarises forecasts for PZU results.
(Figures in millions of zlotys unless stated otherwise.)
             Net      Gross
             profit   written
                      premium
 Median          592         6136
 Average         599         6199
 Lowest          588         6051
 Highest         619         6363
 Number of         5            5
 forecasts            
 Q3 2021         759         5908
 Q2 2022         722         6394
 Forecasts provided by DM mBank, Erste Securities, Santander BM,
Ipopema Securities, Wood&Co.
($1 = 4.5811 zlotys)
 (Reporting by Maria Gieldon; Editing by Louise Heavens)
 ((Maria.gieldon@thomsonreuters.com))