Polish insurer Powszechny Zakład Ubezpieczeń (PZU) has reported a 2014 profit of PLN 2.9bn ($760m), down from the PLN 3.3bn it made in 2013.
However, PZU saw an increase in in net profit on investment activity, which rose 8.7% from PLN 2.51bn in 2013 to PLN 2.73bn in 2014.
The company said that this increase was mostly down to falling yields on Polish treasuries, a higher valuation of investment properties and an expansion of assets denominated in euros.
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