November 14, 2012 / 6:28 AM / 5 years ago

Polish PZU net surges on investments, beats expectations

WARSAW, Nov 14 (Reuters) - Eastern Europe’s biggest listed insurer PZU nearly quadrupled its net profit in the third quarter, beating expectations thanks to improved results from investments due to the recovering equities market and continued bond rally.

The state-controlled insurer said on Wednesday it earned 1.12 billion zlotys ($340.9 million) compared to 880 million expected by analysts polled by Reuters. ($1 = 3.2857 Polish zlotys) (Reporting by Chris Borowski)

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