Powszechny Zaklad Ubezpieczen S.A. (PZAKY) Q2 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning ladies and gentlemen, welcome to this conference where we'll discuss the results of PZU group of the second quarter 2026 and the first half of 2026. The presentation will be delivered by Mr. Benczak, CEO as well as Maciej Fedyna who's responsible for risk and finance area. CEO, Mr. Benczak, without further ado, I pass the floor to you. Welcome to this press conference after the first six months of 2026. Ladies and gentlemen, we have looked into the results of the PZN group following the first six months of our operations this year, and I must tell you, we have been proud of them. And I rush to tell you why the sad six months have proven really demanding. And this demanding character was very much due to geopolitical environment, which had a lot to say as regards the situation on the financial markets, but also it was due to what happened on the Polish market. We had new tax regulations, we had new regulations of ECJ and regulations concerning the tax rates, plus the very character of the transportation system settlement in Poland. This notwithstanding, we have proven we are really resilient. Our ecosystem at Bizio Group has been resilient and thanks to that we have been able to manage and to have sales secured at 15.7 billion PLN, half a billion almost more year on year. We obtained 3 billion PLN net AROE exceeding the level of 17%. In parallel to that, we secured a very sound financial standing of PZU. That is, our capital position was at 230%, PZUSA at 233%. Moreover, we took a decision to pay off the dividend equivalent to 4.8 zlotys. Historically speaking, this has been one of the highest dividend levels This means we catered to the commitments we had once presented before our shareholders and all stakeholders. In May this year, SNP has made our cred...