• Growth in premiums written in the PZU Group business segment PZU Insurance Group;

• Improvement in profitability in the segment of property and casualty insurance, mainly in products and property;
• Reduction of administrative costs carried out by restrukturyzacyjnemu program and a program to reduce fixed costs;
• Lower income from investment activities (despite the very good result in Q2 2011) due to worse than a year the net result of the last of the investment, especially portfolio debt securities;
• Consolidation of the Group cover fittings.

The net financial result of PZU Group for the first half of 2011 amounted to 1552.4 mln zł, then, was higher by 32.7% from the net result of the first half previous year. At the end of the first half of 2011 years ROE, calculated as the ratio urocznionego net profit to average equity in the first half 2011, 24.8% and rose by 4.1 p.p. compared to the end of half of the previous year. “The first half of 2011 for the PZU Group was very successful. Growth premiums written, to further improve profitability and decrease costs administration, resulting from the continuation of the processes restructuring, are facts that are sure to delight investors. It is worth noting that the return on equity amounted to nearly 25%. Customers PZU also have reason to be pleased – we continue to develop products PZU Help modernize our branch network, introduce new products. “- said Andrew Klesyk, CEO of PZU SA.

Contributions Gross premiums written for the first half of 2011 amounted to 7673.3 million zł (7291.9 zł million a year earlier). An increase of 381.4 mln zł (5.2%) was higher due to a footnote in the life insurance segment coaches and in the life insurance segment. The increase in gross written premium of 276.0 mln zł (6.8%) in the segment property and casualty insurance resulted from higher sales insurance, in particular customer segment mass. In addition to motor insurance premiums increase as compared with previous year also occurred in non-life insurance, especially all underwriting residential buildings. The increase in gross written premium in life insurance segment (about 3.3%) resulted in a comparable level of development of group insurance (Year on year growth of 3.3%) and individual (growth year on year 3.2%). In group insurance has been an increase in insured and an increase in average contributions. The insurance individually continued premium growth was achieved mainly thanks dosprzedaży additional insurance. In other individual insurance premiums increased due to high Sales of investment products – product savings and investment with a protective element of the contribution regular “Plan for Life”, sold structured products both through its own network as well as in the bancassurance channel and the IRA.

This increase was partially offset by the expiration of the portfolio life insurance and endowment included in the 90′s. Investing activities PZU Group recorded a 14.5% lower revenues from investment. The reason was mostly lower scores on the implementation of investment, particularly in the portfolio of debt securities securities. In addition, interest income decreased due to including to reduce the average size of the portfolio of debt securities securities, deposits and transactions conditional on Treasury securities (reduced in April 2010 to settlement of claims incurred in connection the payment of dividends). Compensation and benefits PZU Group recorded a decline in net claims of 102.6 million zł (2%). This decrease resulted primarily from the lack of damage caused snow and floods in the life insurance segment. This was partially offset by an increase in benefit payments a decline in reserves in 2011 compared to growth in 2010 year in the life insurance segment. Costs In the first half of 2011 there was a decrease administrative costs by 134.5 mln zł (-17.5%). It was largely the consequence of actions restructuring carried out in PZU and PZU Zycie, carried PZU Group’s activities optimizers costs, mainly in the areas of IT, administration and property and the lack of project costs in the IPO The first half of 2011 (project costs related to the first half of 2010). Acquisition costs in the first half of 2011 increased by 56.5 million zł (6.3%) in the level of the first half of 2010. The increase resulted mainly from the higher sales and changes in the structure of distribution channels (up channel share of commission, at the expense of bezprowizyjnych). Earnings Operating profit in the first half of 2011 amounted to Zł 1902.4 million, up by 402.3 mln zł (26.8%) compared to corresponding period of previous year. For a good result was influenced increase in premiums earned in stable costs and damages decrease in administrative costs. The increase in profit from operations operating directly translated into an increase in net profit 382.6 mln zł (32.7%). Rating PZU and PZU Zycie have long-term credit rating and the rating financial strength, given by Standard & Poor’s Ratings Services on 16 July 2009, at A with a stable credit rating outlook. On 22 July 2011, the agency confirmed above rating and outlook. This is the highest possible rating for Polish companies. Restructuring 29 December 2009 the Management Boards of PZU and PZU Zycie announced a plan to implement restructuring program for 2010-2012.

The restructuring process is related to employment including of centralization of functions previously scattered in several centers located in large Polish cities and increasing specialization of employees, and covers the following areas: operations, finance, claims and benefits, and the network of the PZU Group. Given the scale of the planned redundancies, on 11 May 2011 Boards PZU and PZU Zycie announced their intention to carry out further redundancies group. On this day it was estimated that the change will be subject to 3316 people, What reductions, ie, a decrease in employment in PZU and PZU Zycie in 2011 were established at the level of 1212 people. In the period of 3 months from 1 April to 30 June 2011 the process changes in PZU and PZU Zycie was covered by 347 persons, of which 248 employees were given documents that address the employment contract.

Summer weather is not conducive to wojażom the country and more people are changing vacation plans, deciding to go abroad. Those who have returned from vacation, begin to think about school spending, or renewed apartment. With a view to some and others have introduced attractive interest cash loan with insurance – says Jarosław Przybysz Market Manager of the Management Board of Kredyt Bank.

Depending on the lending period the customer can choose a fixed rate loan or variable. Fixed interest rate is currently 12%, and variables – 12.69% (margin of 8% and WIBOR 3M – 4.69%). We give you also decide which of the repayment method is most advantageous for him – or decreasing installments.

Promotion includes all customers who accrue in the short term cash loan with insurance. The maximum loan amount is 120 thousand. PLN and he may be granted up to 7 years.

For a drawdown is not required collateral or guarantor, just insurance. Money from the loan can be used for any purpose.

Product design involves regular contributions paid by the customer at a specific height and frequency. Disbursements can be made at any time, but the investment horizon is fixed for a minute. 10 years after which customers can withdraw funds at no extra charge. Customers can also temporarily suspend the payment of contributions.

- The obligation to make regular payments is conducive to systematic saving – says Daniel Wrzesinski, manager Savings Centre MultiBank. – The frequency and amount of contribution the client declares. May decide the payment of a monthly, quarterly, semi-annual or annual basis – it is at least a month. 400 zł. In addition to regular contributions, the customer can also supply an additional account, thereby increasing the total capital – the following Wrzesinski.

The product is a savings and investment. Customer regularly pays money which are invested in an investment fund APF, or Active Portfolio Funds. Income from investments is dependent on the income of APF. In the last twelve months amounted to 15.75 percent. (Marking of March 4, 2011). APF is managed by BRE Wealth Management Experts. Its assets are invested in absolute return strategy, which aims to maximize profits during a bull market and minimizing losses during the bear market.

- That makes the burden of investing capital accumulated by the customer is moved to the managers. The client does not need to make any decisions related to the choice of an appropriate investment strategy, or making adjustments in portfolio composition – as is the case in most of these products – says Daniel Wrzesinski.

The product is offered as insurance, but was constructed so as to primarily function as a investment. The minimum value of resources is spent on costs associated with the risk of payment of the insurance (insured amount is only 100 zł). Moreover, while accession to the product are not required medical questionnaire. And with a form of insurance, in case the client’s death, a person endowed are exempt from capital gains tax and inheritance tax and gift tax.

Regular savings program offered in MultiBank is in partnership with AXA Life Insurance TU and BRE.

The insurer shall ensure that, if you were to offer the most advantageous and facilitate daily life. Therefore, there are promotions, designed so often associated with actual – even with the seasons. But such opportunities are not everything. Ergo Hestia Experts advise if you can save.

1. The cheaper package.

Comprehensive protection-that the whole family was looking for in insurance. It will provide appropriate insurance package which protects everything that is precious to us. For example, in one package is sometimes included property insurance, car, liability in private life and accident insurance. In addition, sometimes a guaranteed package of assistance services, which provides medical care, among other things, plumber or IT support.

2. Trust is also sometimes included.

Loyalty to the insurer is another factor, which will allow us to save. The longer we insure in one place, so we can get a greater discount – even up to 20%.

3. What matters is the alarm.

Not all know, even though the amount they pay for the policy, there may be also dependent on the degree to which they took care of the security property. It means that owners of homes with security doors, alarm and monitoring, at the conclusion of the insurance may receive a large discount.

4. Less installments less repayments.

If the policy is sometimes costly, can take advantage of the breakdown of her in installments. It is, however, that if it was their least. Top paying for the entire policy will proceed at once. In this situation, we can save even 10%.

5. Excellent driver.

If you’re a model driver with no accidents-you will be rewarded for it. No damage also has a suggestion for the premium, whether for insurance if and property. So if you’re a good driver with many years of experience, the premium may amount to even 60% less. Another factor affecting the price of the policy is sometimes also insuring the person’s age and engine capacity of the vehicle. So now when buying a car is worth considering whether he actually lived in the big city and often outside without leaving the area, we sometimes indispensable SUV.

REMEMBER!

Before buying insurance, you should carefully consider what they really fear is that this range if the most suit your needs. By purchasing a policy, carefully consider all factors associated with this, if and where you live or stay

Offer customers lower margins for loans in dollars and euros. There is no But nothing is for free – to get promotion conditions, should be actively use of other products or services, crediting bank. The lower margin for the account …

On New Year’s easing of lending policies decided to include Allianz Bank. Reduced the margin for mortgage loans in zlotys, which is from January 3 varies (depending on the amount of contribution) from 1.5% to 1.7% (for loans to 500 thousand. zł) or from 1.3% to 1.7% (for loans for larger amounts). To take advantage of temporarily reduced the margin, you must open an account at Allianz Bank and actively use it, ie, supply them on a monthly quota of minutes. 2 thousand. zł and simultaneously make three non-cash transactions month. Additionally, customers who choose to join for group insurance in the event of death due to accident, temporary disability, serious illness or job loss offered along with the mortgage, without costing charges preparation. Fee for insurance is capitalized at 2% for the five years of protection.

Promotional rates are offered by the bank to end of February. – Introduction of the Golden Mortgages at Allianz Bank is the answer market demand. After almost a two-year suspension of lending associated with the situation in the property market, developers are building even in the winter periods, especially if the weather is conducive, and customers purchase property irrespective of the season and expect attractive offers credit. Our proposal is based on very attractive terms pricing, the rapid and efficient service – provides Agnieszka Krawczyk Mortgage Product Manager at Allianz Bank. … And insurance Similar reductions have also introduced the retail arm of BRE Bank – mBank and MultiBank.

By the end of January the margin loans denominated starts from 1.1% and loans in euro – from 1.5%. This offer is for customers who choose to actively use the services of mBank or MultiBank: pour paid into the account to pay by debit or credit card and buy life insurance. In the case of PLN-denominated loans should also be deliver to the estimated operat bank property. – In 2011 we want to increase our share in the total sale of loans granted in PLN and EUR. New Year’s promotion is a step in the direction of our offer more attractive for both these currencies. We hope that the service will be popular with customers from due to the competitive level of margins – Skrzycki says Dominik, director of the office Mortgage Retail Banking BRE Bank. Zero-end fee Lower margin of active clients is also proposing to Raiffeisen Bank Poland.

New rates are not dependent on the amount of credit or collateral value (LTV) and range: 1.49% for loans denominated and 1.99% for loans in euro. To take advantage of promotional offer, declare the power bill personal bank the amount of not less than three thousand. zł for a minimum period of 5 years. Additionally, borrowers who decide to take advantage of insurance life through a bank with an insurance company UNIQA will exempted from the preparatory commission which in other cases is 1%. Applications for loans on concessional terms to be submitted to the February 4. – The latest promotion gives customers a low price of credit at low these requirements. This means, for example, that premium is not attractive limited only to loans at a very high amounts. Thus, we show that this year’s housing loans are one of our key products retail. We offer mortgage will be continually enriched with attractive solution for customers to remain competitive on the market, who is fighting a large group of banks. – Explains Martin Gregory, Director responsible for mortgage products at Raiffeisen Bank Poland.

“Zarąbisty weekend” – a special promotional campaign in the supermarket mBank Car Insurance – is organized on 13-15 August. (From the chair. 20.00 on Friday, hours. 23.00 on Sunday.) Buy at that time or a package of automobile insurance and the OC AC, 12-month insurance policy can be obtained on site and 11-month policy, the insurance policy application can be submitted even from half a year in advance. To participate in the promotion simply use the promotional code which will be published on the pages www.mBank.pl August 13 the chair. 17.00.

One month free is not the only incentive for customers interested in car insurance, because once again mBank also proposes the best price guarantee. Promotion Rules are simple: if after the acquisition policy in the supermarket car insurance customer receives a proposal for the purchase of cheaper insurance – mBank refund the difference in price.

Promotions have been supported of the advertising, which began Aug. 9 and will last until 19 September. As part of the planned activities, in recent days in television (TVN, Polsat, TVN7, TVN 24, TVN Style, TVN Turbo Polsat Sport, Discovery Channel, VH1, Comedy Central, AXN, Hallmark, National Geographic, Canal + Sport, Kuchnia.tv and Domo) aired already well-known spot of clients’ woodcutters. “It was just replaced by new production, to which the pictures were made on July 31 in Warsaw. The new campaign has already re-known for starring in last year’s spot woodcutters who” chop “unconscious Clients rates for OC and AC.

Spot mBank is available online at www.mBank.tv. Basic information about the production:

* Agency: Embassy of Brand Communication (Group Czteryczwarte)

* Media planning: MPG,

* Directed by: Krzysztof Pawlowski

* Photo: Dominik Danielczyk,

* Producer: Joanna Zielinska,

* Studio: Film Production.

Supermarket Car Insurance mBank, created in collaboration with BRE Insurance offers customers convenient to compare and buy on-line policies OC and AC. The service is the products: HDI Belaying, Benefia (part of the Vienna Insurance Group) and mDirect (offered by BRE Insurance TUiR SA). In February 2009 the product has been recognized under the “highest quality” and titled as “Product of the Year”.

million, by 9% versus 3,6% of the market growth in Q1

Premiums written up by 10% in life insurance and up by 7% in non-life insurance

Life single premiums grow by 29% (6 times faster than the market)

Generali OFE: highest return rate confirmed in the latest KNF ranking

Warsaw, 16-th of August 2010. The companies of Generali Group in Poland have

had successful six months. The gross premiums written by the Group reached PLN

883.7 million* at the end of June 2010, growing by 9% year on year. This shows

that Generali continues stable strong growth much above the average performance

of other market players. This is confirmed by the most recent available

statistics published by the Polish Financial Supervision Authority (KNF), which

indicate that the Polish insurance sector grew by 3.6% at the end of March

2010, 2.5 times less than Generali has grown now. The Generali pension fund

also performed well in Q2: it won the June ranking of the Best Financial

Institutions published by the prestigious daily “Rzeczpospolita” and is the

leader of KNF’s latest ranking based on three-year investment return rates.

“The growth of Generali gross premiums written by close to 10% in H1 2010 means

that we are growing almost three times faster than our market competitors on

average. This is a reason for satisfaction considering the difficult

macroeconomic environment, which hinders growth in the insurance sector. As far

as results are concerned, this year, insurers have to face the impact of a

harsh winter, several storms, and recently many waves of flooding, which put a

very heavy burden on the results of the insurance industry in Poland in 2010,”

said Generali Poland Group CEO Andrzej Jarczyk.

NON-LIFE INSURANCE: Steady Progress On a Difficult Market

In H1 2010, gross premiums written by the non-life insurer Generali T.U. S.A.

reached PLN 385.2 million, up by 6.8% year on year.

In H1 2010, Generali has focused on the sale of those non-life insurance

products which generate higher profitability if compared to motor insurance,

which is unprofitable at a market level. As a result, retail insurance products

other than motor insurance (including household, SME, travel, and accident

insurance) and corporate insurance represented more than 40% of Generali T.U.’s

total non-life insurance portfolio in H1 2010 compared to 36.8% a year earlier.

Non-motor retail insurance grew by 43% and was the company’s most dynamically

growing business line in H1 2010 . Corporate insurance grew by 10%.

Generali motor insurance portfolio was stable at PLN 230.6 million (up by 1%

year on year).

GENERALI ŻYCIE: Life Insurance Products with Regular Premiums Growing 6 Times

Faster Than the Market

Generali Życie T.U. S.A. wrote premiums totalling PLN 498.5 million in H1 2010,

up by 10.4%.

In H1 2010, Generali consolidated its very strong position in the segment of

regular premium policies, which are core products for life insurers. This

business grew by 29% (to PLN 217.8 million), while this segment of the Polish

life insurance sector grew by only 5% according to the latest available

statistics at the end of Q1 2010. The company owes its excellent performance

mainly to very dynamic customer acquisition (as measured by APE – annualised

premium equivalent), which was up by 45%. The growth was also driven by a very

good retention rate of the portfolio, which is stable and close to the rate

reported at the time of strong economic growth.

The performance was also driven, as in the previous periods, by very high

effectiveness of sales in all of the main distribution channels, from the agent

network to group sales and bancassurance.

The sales of products with single premiums grew to PLN 281 million in H1 2010,

up by 2%.

GENERALI OFE: Pension Fund Winning Prestigious Rankings In H1

At the end of H1 2010, Generali OFE operated 723 thousand active pension

accounts, up by 13.5% year on year. The growth rate was around four times the

market average as the number of active accounts in the sector grew by 3.6% year

on year. Generali OFE managed PLN 8.7 billion of assets at the end of June

2010, up by 38% year on year. Generali OFE’s investment performance confirms

that it remains one of the most effective funds in Poland: it is the leader of

the latest ranking based on three-year investment return rates (March 2007 –

March 2010) published by the Polish Financial Supervision Authority (KNF).

Generali is also current leader of this ranking (as the only one with positive

return rate) before next, September release of KNF (see graph below). Generali

OFE is also the winner of the June ranking of the Best Financial Institutions

published by the prestigious daily “Rzeczpospolita”.

Generali Group’s Consolidated Net Profit

At the end of H1 2010, the consolidated net profit of Generali Group was PLN

6.2 million v. PLN 7.6 million at the end of June 2009. The Group’s H1 2010 net

profit was affected mainly by the atmospheric events like snow, storms and

floods, which inflated claims paid as well as created reserves.

year. The reason was to be implemented by insurers recommendations Union

European Union. Bankier.pl verify today for the OC actually pay more

than last year.

Exactly one year ago the portal Bankier.pl watched prices compulsory

liability insurance of motor vehicles,

communication, commonly called OC. This product should be purchased each

owner of the “four wheels”. In connection with the general duty to read – from

extremely high demand throughout the country, the insurance is

the standard product of almost every property company

insurance. To compare the prices of OC, we asked the insurers to

determine the contributions of several specific cases. Is the price

determines the age of the driver behind the wheel of his seniority, education, and may place

residence – these questions, we answer in the previous edition

ranking. Why would anything be changed in the last year? Between

others, because there had been a change in insurers. The European Union

imposed an obligation to increase the guaranteed sums. Thus, customers

companies are now able to determine the maximum amount of insurance

higher level than before. Costs of taking on more

liability were to be saddled with clients. Is this actually happened

happen? Does the customer profile with the same pay today for the OC in each case

more than last year? No. While some insurers money almost

all verified by our insurance went up (Generali Ergo

Hestia, Link4), there is no reason for this trend to expand the whole market. Constantly

Indeed, there are cases when the OC will be cheaper than in the same case than a year

ago.

WARTA MOTO ASSISTANCE Platinum package is now the richest offer on the insurance market. The main distinguishing feature here is no limit miles Vehicle tracking in Poland and up to 800km beyond its borders. After the accident, the insured has an opportunity use of a replacement vehicle for the repair time without time limits. The package also extended the scope of medical assistance in the country, providing rehabilitation and counseling after the accident for the whole family. During travel client also has access to personal assistant, who include help you book hotel check the situation on the road or the weather for the next few days. The package includes additional option Concierge whereby You can use a service such as “Night Driver”, an organization replacement of tires or wash the car wash (the cost of services borne by the insured). There is also advice on random cases, legal assistance hotline, and even an interpreter in a foreign country. Personal Assistant to help customers to book tickets for a performance table in restaurants, and even deliver flowers on our behalf. The offer is also available long-term packages Standard, Gold and Gold + and short-term Voyager

Voyager 15 and 30:

The standard package is included free of charge to those contained

in Warta CDW and insurance. It provides the organization

and cover the cost of towing the insured vehicle

100km from the place of incident;

Insured may benefit from a larger range

selecting benefits package + Gold or Gold. Variants

These provide assistance in case of accident, accident, theft

vehicle and a number of the mishap;

For those planning a holiday trip WARTA

a package of short-term security

Voyager Voyager 15 and 30, respectively, 15 and 30 days.

Provide such insurance assistance information,

service, travel assistance, the organization of the vehicle

replacement and medical and legal assistance.

All variants MOTO-ASSISTANCE available WARTA

provide assistance in the territory not only Polish, but the

throughout Europe, including the European part of Turkey and Russia

and Israel, Morocco and Tunisia, without any surcharge

contributions.

Credit without the commission is currently on offer BGZ. Promotion lasts until July 1st this year.and applies to loans denominated in PLN, awarded for a period of 40 years, funding for 100% of property value. – We rely on the simplicity of the product, in the case of a mortgage reduces the necessary formalities, which, combined with cost reductions puts our product in the forefront of the housing loans market – says Margaret Wagner, Director of Marketing Communications Department at Bank BGZ. – The use of the 0% commission is not required to conform to the customer any additional conditions and is not conditional on buying other products of the bank – tells Magdalna Paciorek of BGZ. – The margin depends on the amount of the loan, share capital invested in an investment client, preparation fee and ancillary products purchased by the customer. In preparation fee of 2.5% margin starts from 1.80% and the fee 0% – from 2.25% – added Paciorek.