Netherlands-based insurance group Eureko, which owns 33 percent of shares in Polish insurer PZU, reported a €2.12 (zł.9.5) billion net loss in 2008, in comparison to a net profit of €979 (zł.4,385) million in 2007. The company announced plans to reduce costs by €300 (zł.1,344) million, and to lay off 2,500 people by 2011. At the same time, PZU reported a net profit of €521.5 (zł.2,336) million.