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Insurer PZU to cut costs, expand abroad: CEO


Polish insurer PZU S.A.'s CEO Michal Krupinski said that the insurer will cut costs and strengthen its international presence to return to growth after its net profit decreased by 21% in 2015, reported Reuters.

PZU is looking to reduce costs by 20% in the coming three years to lift return on equity to around 20%.

"Our goal should be to have 15 to 20% of our total gross written premiums from foreign operations," said Mr. Krupinski.

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