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Polish Re getting better


JackW0
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" NEWS

11 April 2010

On March 30, 2010 the General Meeting of Polish Reinsurance Company approved the Financial Statements 2009. The financial results in the year 2009 were one of the best ever of Polish Re.

 

The results of 2009 are as follows:

 

Gross written premium 63.1 mio EUR

Net loss ratio 75.7%

Underwriting profit 1.2 mio EUR

Net profit 11.3 mio EUR

ROE 27.6%

Shareholders’ equity 41 mio EUR

(growth by 56.5% on y/y basis)

Own funds / solvency margin 321.5%

Assets / technical reserves 139.0% "

 

We can see the positive impact of Fairfax involvment. It would not take long before ratings go up.

 

Jack W.

 

 

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Crip,

Having access to polish language I tray to follow insurance market in Poland, which together with relatively new capitalist movement in Eastern Europe is a very interesting phenomenon. Once again we can see the brilliant move (grate timing) of our Fairfax team. I get there backdoor from some polish website.

Jack W.

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