Polityka finansowa Powszechnego Zakładu Ubezpieczeń Wzajemnych w latach trzydziestych XX w.

The global economic crisis, lasting since 1929, led to a collapse on the Polish insurance market. As a consequence, numerous insurance companies went bankrupt and Powszechny Zakład Ubezpieczeń Wzajemnych [Mutual Insurance Company], the largest insurer in the industry, had to urgently implement a recovery programme. It consisted in taking greater care of income from insurance premiums, while at the same time tightening the compensation payment system. As a result of sound financial policy, the PZUW authorities managed to survive and even strengthen the company’s position in the insurance industry. However, the outstanding premiums seriously burdened the insurer’s balance sheet, and this problem was not solved until the outbreak of World War II.