The past year went down in the history of PREMIUM Insurance Company as another in a series of years marked by positive business development. After a decade of continuous growth, a new CFO has joined the company with the ambition to build on its strong results. Štefan Poláček, Director of the Finance Department and a member of the Board of Directors, aims to move financial management towards greater efficiency, transparency, and predictability in decision-making. In this interview, he shares more about his vision, priorities, and personal approach to leadership.
You are joining the company after a financially successful year. How do you perceive these results from the perspective of a new CFO?
I have great respect for the work of the entire team and see it as a strong foundation to build on. From a results perspective, I appreciate the year-on-year growth in revenues and the improvement in actuarial results. This signals that the core underwriting is working well. At the same time, the latest renewal of the reinsurance programme showed that even major reinsurance companies view us as a stable and reliable partner. Last but not least, along with strong business growth, we managed to improve the company’s capital position, which confirms the shareholders’ vision that PREMIUM Insurance Company is clearly a long-term project.
What do you think was the most important factor behind last year’s financial success?
For me, it was primarily business growth combined with underwriting discipline. In addition, there has been gradual improvement in processes, reporting, and financial control. Ultimately, it is the collective effort of the entire team that translates into visible results.
Your career includes extensive experience not only in the insurance industry but also in auditing and managing numerous projects. Which period shaped you the most as a financial leader?
I spent more than eleven years in the insurance industry, where I progressed from an actuary in life and non-life insurance to a risk manager, and later to managing the actuarial and reinsurance department. I then worked for six years as a director at the largest audit and tax advisory company in Slovakia, where I was responsible for the development and performance of the actuarial department. In addition to insurance audits, I participated in several international strategic and transformation projects, which added a strong business and managerial dimension to my expertise. I believe my entire career has shaped me, but the key moments were those when I had to make quick decisions with incomplete information and take full responsibility for them. I consider myself someone who understands not only numbers but also risk and business. I don’t just look at results – I try to understand why they were achieved and what we can improve next time, always as a team. I see this as crucial for any financial leader.
What was your most challenging professional moment, and what did it teach you?
New beginnings have always been the most challenging. Starting a new role means making quick decisions with limited information while also managing change at home with your family. Joining a consulting firm was one such moment – it required rapid adaptation to a new environment and culture, as well as quickly learning new skills and taking responsibility for the team and our results.
This period taught me that transparency in decision-making builds trust, and that beginnings are an investment rather than a weakness. Difficult periods create a foundation that you can draw on later.
Is there a decision from your past that you are particularly proud of?
I’m not sure “proud” is the right word, but I am always pleased when things move in the right direction and results are visible. One example would be building the second-largest actuarial team in Central and Eastern Europe in my previous role. Honestly, many people probably didn’t expect it to become such a successful project.
What convinced you to accept the offer to become CFO at PREMIUM Insurance Company?
It was a combination of a bold vision and the strong trust shown by the shareholders. I welcome new challenges – not because I feel the need to “move up the ladder,” but because I am willing to take responsibility and tackle complex tasks where decisions must be made and their consequences accepted.
What expectations do you bring into this role?
In the insurance business, risk and uncertainty are natural and unavoidable. It is impossible to control all variables. Nevertheless, I take on the CFO role with the ambition to increase predictability, clearly define financial priorities, accelerate decision-making, and work with measurable indicators. My goal is for finance to be not just a reactive reporting function, but a proactive business partner.
What surprised you most during your first weeks at the company, and what have you already achieved?
I was particularly impressed by the people at PREMIUM. With a relatively small team, building an insurance company over ten years to reach nearly €50 million in written premiums across two countries (Slovakia and the Czech Republic) by 2025 is truly remarkable.
What are your priorities for 2026? Do you plan consolidation and stability, or bolder investments?
The year 2026 will focus primarily on clarifying and streamlining processes and supporting growth where it makes economic sense. In the past, we experienced very dynamic growth, which brought both opportunities and challenges that we had to respond to. We will certainly continue to support business growth, but not at any cost. Our long-term strategy is sustainable and healthy growth.
A CFO is often the one who has to say “no.” How do you make unpopular decisions?
I see “no” as protecting the company’s long-term interests rather than as a limitation. If I have a different opinion or need to stop an initiative, I believe it is essential to offer an alternative. Fairness always comes first. Ultimately, it is about teamwork and results. I try to present both sides, give people space to express their views, and listen to those who are experts in their areas.
How would your colleagues describe you?
I’m not entirely sure, but perhaps as someone who asks many questions and needs to understand things in detail. I hope they would also mention my sense of humour and optimism, which help navigate even difficult decisions without unnecessary tension.
Are you more of an analyst, strategist, or diplomat?
In that exact order – first an analyst, then a strategist. I am aware that my decisions have a significant impact on the company and its people. I am still learning to be a diplomat, as sometimes it is easier to be direct. These situations remind me that a leader is not someone who always has certainty, but someone who takes responsibility and maintains direction.
How do you manage pressure and high expectations?
I tend to set expectations for myself. I know exactly what I want to achieve and by when. Over time, I have learned to manage stress effectively and not let it show. Perhaps it’s because I deal with such situations daily – they have become routine.
Do you have a personal ritual or habit that helps you make important decisions?
Simply: facts – analysis – risks – scenarios – decision – communication. Even as a finance professional, I prefer simple and effective solutions. Pragmatism wins over complexity.
What gives you the most energy outside of work?
Definitely my family – I have four boys and one “superwoman” at home. In addition, sports and working in the garden help me recharge. Manual work in the garden is the best way for me to switch off.
Which book or idea has influenced your managerial approach?
There are several, but in decision-making I follow the Pareto principle – 80/20, or even 90/10 where possible. Personally, I value discipline and habit-building. I would recommend Atomic Habits by James Clear.
What message would you like to share with PREMIUM Insurance Company’s business partners?
I want them to know that PREMIUM Insurance Company is a reliable partner. Our ambition is long-term, sustainable growth based on fair conditions, professional management of insurance policies and claims, and transparent cooperation.
Where would you like to see the company in three years?
In three years, I would like PREMIUM to be even closer to its clients and business partners, while standing on a strong financial foundation. A company that grows sustainably, manages risk wisely, and can finance its development from its own resources. With the current team, this is a realistic vision – and I’m glad to be part of it.
