S&P affirms Powszechny Zaklad Ubezpieczen, Powszechny Zaklad Ubezpieczen na Zycie

Standard & Poor's said it affirmed its A- long-term counterparty credit and insurer financial strength ratings on Powszechny Zaklad Ubezpieczen SA and Powszechny Zaklad Ubezpieczen na Zycie SA.

The outlook is stable.

The ratings reflect the companies' status as core entities of composite insurance group PZU and are supported by the group's strong competitive position and very strong operating performance, S&P said.

The ratings are constrained, however, by PZU's limited ability to invest in assets of stronger credit quality or appropriate duration, the agency added.

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