Insurer PZU to cut costs, expand abroad: CEO
Posted On: Mar. 16, 2016 12:00 AM CSTPolish 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.