S&P affirms PZU Group

S&P said it affirmed its A- long-term issuer credit ratings on Powszechny Zaklad Ubezpieczen SA and its core operating subsidiaries.

The outlooks are stable.

“PZU Group continues to defend its very strong competitive position as the leading insurance group in Poland with a large and diversified insurance portfolio,” the agency said in a news release.

“The group's competitive advantages – like its scale and efficiency, diverse distribution capabilities and strong brand reputation in the Polish insurance market – translated into a strong organic premium growth rate in 2016 and 2017.”

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