Navigation Map Download our best practices
Interactive navigation is a tool that goes beyond the standard navigation of the integrated content (available in the report drop-down bar). New approach allowed to navigate in the two additional business dimensions of the PZU Group, i.e .:
- strategy (insurance, health, investments, finances);
- sustainable development (sales, employees, social responsibility, natural environment and ethics).
The above-mentioned areas were additionally supplemented with related GRI indicators, within each selected issue.
- strategy (insurance, health, investments, finances);
- sustainable development (sales, employees, social responsibility, natural environment and ethics).
The above-mentioned areas were additionally supplemented with related GRI indicators, within each selected issue.
In the CHAPTER
GRI
- 102-7 Scale of the reporting organization
- 103-2 Approach to management and its elements
- 103-3 Evaluation of the approach to management
- 201-1 Direct economic value generated and distributed
- 102-13 Membership in associations and organizations
- 102-40 List of stakeholder groups engaged by the reporting organization
- 102-42 Basis for identification and selection of stakeholders engaged by the organization
- 102-43 Approach do engaging stakeholders, including the frequency of engagement by stakeholder type and group
- 102-44 Key issues and concerns raised by stakeholders and the organization’s response, also by reporting them
In the CHAPTER
GRI
- 102-8 Data pertaining to employees and other persons working for the organization
- 103-2 Approach to management and its elements
- 103-3 Evaluation of the approach to management
- 404-1 Average number of hours of training per year per employee
- 404-2 Managerial skill development and continuing education programs supporting continuity of employment of employees and facilitating the retirement process
- 404-3 Percentage of employees subject to regular assessments of work quality and professional development reviews, by gender and employment category
- G4-FS16 Initiatives to enhance financial literacy by type of beneficiary
In the CHAPTER
In the CHAPTER
GRI
- 103-3 Evaluation of the approach to management
- 307-1 Cash value of penalties and total number of non-financial sanctions for non-compliance with the law and/or regulations on environmental protection
- 301-1 Raw materials/materials used by weight and volume
- 302-1 Energy consumption by the organization, taking into account the types of raw materials
- 302-4 Reduction of consumption of energy
In the CHAPTER
GRI
- 102-9 Description of the supply chain
- 102-11 Explanation of whether and how the precautionary principle is addressed by the organization
- 102-15 Description of key impacts, opportunities and risks
- 102-16 Organization’s values, code of ethics, principles and norms of behavior
- 102-17 Internal and external mechanisms making it possible to obtain advice regarding the behaviors in ethical and legal issues and issues associated with the organization’s integrity
- 103-2 Approach to management and its elements
- 103-3 Evaluation of the approach to management
- 102-5 Organization’s form of ownership and legal form
- 102-18 Organization’s supervisory structure along with the commissions that report to the highest supervisory body
- 205-1 Actions assessed in terms of threats associated with corruption
- 205-2 Communication and training on anti-corruption policies and procedures in the organization
- 206-1 Legal steps taken against the organization for cases of violating the principles of free competition and monopolistic practices
- 405-1 Composition of supervisory bodies and employees broken down into employee groups by gender, age and other diversity factors
- 406-1 Total number of discrimination cases and corrective measures taken in this regard
- 419-1 Non-compliance with the law and socio- economic regulations
In the CHAPTER
GRI
- 103-2 Approach to management and its elements
- G4-FS13 Access points to sparsely populated areas that are less economically developed
- G4-FS14 Initiatives undertaken to improve access to financial services for disfavored persons
- G4-FS15 Policies for the fair design and sale of financial products and services
- 417-1 Internal requirements concerning the labeling of products and services and information regarding them
- 417-2 Incidents of non-compliance with regulations and voluntary codes concerning the labeling of products and services and information regarding them
- 417-3 Incidents of non-compliance with regulations and voluntary codes concerning marketing communications
Read more:
- Client at the center of attention
- Innovations
- Responsible sales
- Insurance
- Banking and strategic partnerships
- Working conditions
- Employee development
- Knowledge sharing
- Enhancing safety
- Health
- Improvement of living conditions in local communities
- Our impact on the natural environment
- Practical challenges in managing direct impact
- Products and adaptation to climate change
Business model
Employee
CSR
Environment
- Ethical foundations of business operations
- Preventing corruption and conflict of interests
- Diversity and respecting human rights
- Whistleblowing system
- Transaction security
- Risk management, taking into account non-financial risk
- Risk appetite
- PZU Group’s risk profile
- Reinsurance operations
- Polish and Baltic States insurance sector compared to Europe
- Regulations pertaining to the insurance market and the financial markets in Poland
- Non-life insurance (PZU, LINK4 and TUW PZUW)
- Life insurance (PZU Życie)
- International operations
- Contribution made by the market segments to the consolidated result
Risk and ethics
Market
Business
Financial results
Read more:
- Client at the center of attention
- Employee development
- Health
- Cultural patronage
- Practical challenges in managing direct impact
- Ethical foundations of business operations
- Diversity and respecting human rights
- Whistleblowing system
- Transaction security
- Risk appetite
- PZU Group’s risk profile
- Risk vulnerability
- Capital management
Business model
Employee
CSR
Environment
Risk and ethics
Read more:
- New approach to sales
- Working conditions
- Employee development
- Diversity and respecting human rights
Business model
Employee
Risk and ethics
Read more:
- Client at the center of attention
- Medical services (Health)
- Working conditions
- Enhancing safety
- Health
Business model
Employee
CSR
- Our impact on the natural environment
- Practical challenges in managing direct impact
- Diversity and respecting human rights
- Medical services (Health)
Environment
Risk and ethics
Business
Results by segments
INTEGRATED
NAVIGATION
NAVIGATION
Reference areas
Ref. areas
Insurance
Health
Investments
Banking
Best Pratices in PZU
| Data from the profit and loss account – corporate insurance (non-life insurance) (PLN million) | 2018 | 2017 | 2016 | 2015 | 2014 |
| Gross written premiums | 3,097 | 2,738 | 2,174 | 1,779 | 1,831 |
| Net earned premiums | 2,326 | 2,005 | 1,641 | 1,477 | 1,462 |
| Investment income | 113 | 85 | 115 | 121 | 136 |
| Insurance claims | -1,591 | -1,323 | -1,062 | -871 | -964 |
| Acquisition costs | -477 | -425 | -361 | -288 | -306 |
| Administrative expenses | -131 | -137 | -125 | -127 | -125 |
| Reinsurance commission and share in profits | 39 | 27 | 21 | 16 | 16 |
| Other | -11 | -41 | - | -18 | -2 |
| Insurance profit | 268 | 191 | 229 | 310 | 217 |
| Acquisition costs ratio (including reinsurance commission)* | 18.80% | 19.90% | 20.70% | 18.40% | 19.80% |
| administrative expenses ratio* | 5.60% | 6.80% | 7.60% | 8.60% | 8.60% |
| Claims ratio* | 68.40% | 66.00% | 64.70% | 59.00% | 65.90% |
| Combined ratio (COR)* | 92.90% | 92.70% | 93.10% | 86.00% | 94.30% |
* ratios calculated with net premium earned
| Data from the profit and loss account– mass-market insurance (non-life insurance) (PLN million) | 2018 | 2017 | 2016 | 2015 | 2014 |
| Gross written premiums | 10,401 | 10,068 | 8,833 | 7,364 | 6,569 |
| Net earned premiums | 10,168 | 9,513 | 7,836 | 6,793 | 6,563 |
| Investment income | 526 | 482 | 517 | 518 | 563 |
| Insurance claims | -6,171 | -6,069 | -5,275 | -4,441 | -4,363 |
| Acquisition costs | -1,890 | -1,745 | -1,551 | -1,383 | -1,239 |
| Administrative expenses | -594 | -608 | -634 | -665 | -617 |
| Reinsurance commission and share in profits | -6 | -9 | -14 | -14 | -27 |
| Other | -308 | -237 | -220 | -150 | -123 |
| Insurance profit | 1,725 | 1,327 | 659 | 658 | 756 |
| Acquisition costs ratio (including reinsurance commission)* | 18.60% | 18.40% | 20.00% | 20.60% | 19.30% |
| administrative expenses ratio* | 5.80% | 6.40% | 8.10% | 9.80% | 9.40% |
| Claims ratio* | 60.70% | 63.80% | 67.30% | 65.40% | 66.50% |
| Combined ratio (COR)* | 85.20% | 88.60% | 95.40% | 95.70% | 95.20% |
* ratios calculated with net premium earned
| Data from the profit and loss account– group and individually continued insurance (PLN million) | 2018 | 2017 | 2016 | 2015 | 2014 |
| Gross written premiums | 6,891 | 6,855 | 6,775 | 6,689 | 6,539 |
| Group insurance | 4,887 | 4,878 | 4,829 | 4,753 | 4,627 |
| Individually continued insurance | 2,004 | 1,977 | 1,946 | 1,936 | 1,912 |
| Net earned premiums | 6,890 | 6,854 | 6,776 | 6,691 | 6,537 |
| Investment income | 581 | 720 | 680 | 602 | 713 |
| Insurance claims and change in other technical provisions net | -4,931 | -5,142 | -4,686 | -4,718 | -4,570 |
| Acquisition costs | -349 | -332 | -329 | -356 | -357 |
| Administrative expenses | -604 | -587 | -585 | -577 | -543 |
| Other | -44 | -63 | -71 | -67 | -19 |
| Insurance profit | 1,543 | 1,450 | 1,785 | 1,575 | 1,762 |
| Insurance profit excluding conversion effect | 1,526 | 1,415 | 1,745 | 1,500 | 1,692 |
| Insurance profit excluding one-off events | 1,526 | 1,415 | 1,529 | 1,500 | 1,692 |
| Acquisition costs ratio* | 5.10% | 4.80% | 4.90% | 5.30% | 5.50% |
| Administrative expenses ratio* | 8.80% | 8.60% | 8.60% | 8.60% | 8.30% |
| Insurance profit margin (excl. conversion effect)* | 22.10% | 20.60% | 25.80% | 22.40% | 25.90% |
| Insurance profit margin (excl. one-off events)* | 22.10% | 20.60% | 22.60% | 22.40% | 25.90% |
* ratios calculated with gross premium written
| Data from the profit and loss account – individual insurance (PLN million) | 2018 | 2017 | 2016 | 2015 | 2014 |
| Gross written premiums | 1,346 | 1,664 | 1,174 | 1,234 | 1,269 |
| Net earned premiums | 1,344 | 1,662 | 1,174 | 1,234 | 1,267 |
| Investment income | 59 | 419 | 288 | 251 | 327 |
| Insurance claims and change in other technical provisions net | -976 | -1,672 | -1,043 | -1,091 | -1,250 |
| Acquisition costs | -126 | -135 | -107 | -123 | -126 |
| Administrative expenses | -69 | -61 | -59 | -60 | -53 |
| Other | -5 | -4 | -9 | -5 | -2 |
| Insurance profit | 227 | 209 | 244 | 206 | 163 |
| Acquisition costs ratio* | 9.40% | 8.10% | 9.10% | 10.00% | 10.00% |
| Administrative expenses ratio* | 5.10% | 3.70% | 5.00% | 4.90% | 4.20% |
| Insurance profit margin* | 16.90% | 12.60% | 20.80% | 16.70% | 12.80% |
* ratios calculated with gross premium written
| Data from the profit and loss account – investment contracts (PLN million) | 2018 | 2017 | 2016 | 2015 | 2014 |
| Gross written premiums | 40 | 44 | 86 | 141 | 374 |
| Group insurance | 2 | 2 | 3 | 3 | 45 |
| Individual insurance | 38 | 42 | 83 | 138 | 330 |
| Net earned premiums | 40 | 44 | 86 | 141 | 374 |
| Investment income | -14 | 18 | 18 | 16 | 44 |
| Insurance claims and change in the balance of other technical provisions net | -15 | -50 | -89 | -136 | -376 |
| Acquisition costs | -1 | -1 | -4 | -10 | -16 |
| Administrative expenses | -5 | -7 | -9 | -9 | -10 |
| Other | -2 | - | - | -1 | -1 |
| Insurance profit | 3 | 4 | 2 | 1 | 15 |
| Insurance profit margin* | 7.50% | 9.10% | 2.30% | 0.70% | 4.00% |
* ratios calculated with gross premium written
| Data from the profit and loss account- banking activity (PLN million) | 2018 | 2017 | 2016 | 2015 | 2014 |
| Net revenue from commissions and fees | 2,380 | 1,583 | 351 | - | - |
| Investment income | 9,596 | 6,475 | 2,119 | - | - |
| Interest costs | -1,904 | -1,249 | -605 | - | - |
| Administrative expenses | -4,989 | -3,743 | -1,290 | - | - |
| Other | -1,047 | -627 | 73 | - | - |
| Total | 4,036 | 2,439 | 648 | - | - |
| Data from the profit and loss account – pension segment (PLN million) | 2018 | 2017 | 2016 | 2015 | 2014 |
| Investment income | 5 | 6 | 5 | 7 | 12 |
| Other revenues | 149 | 128 | 110 | 119 | 271 |
| Administrative expenses | -40 | -44 | -41 | -40 | -73 |
| Other | -7 | -3 | - | -4 | -6 |
| Operating profit (loss) | 107 | 87 | 74 | 82 | 203 |
| Data from the profit and loss account – Ukraine segment (PLN million) | 2018 | 2017 | 2016 | 2015 | 2014 |
| Gross written premiums | 257 | 223 | 210 | 169 | 174 |
| Net earned premiums | 152 | 123 | 109 | 103 | 136 |
| Investment result | 19 | 18 | 23 | 41 | 41 |
| Net insurance claims | -59 | -56 | -54 | -74 | -94 |
| Acquisition costs | -82 | -69 | -60 | -47 | -52 |
| Administrative expenses | -25 | -23 | -24 | -21 | -28 |
| Other | 18 | 18 | 21 | 10 | - |
| Insurance profit | 23 | 11 | 15 | 12 | 2 |
| Exchange rate UAH/PLN | 0.133 | 0.1402 | 0.1542 | 0.1722 | 0.2637 |
| Acquisition costs ratio* | 53.90% | 56.10% | 55.00% | 45.60% | 38.40% |
| Administrative expenses ratio* | 16.40% | 18.70% | 22.00% | 20.40% | 20.70% |
* ratios calculated with net premium earned
| Data from the profit and loss account – Baltic states segment (PLN million) | 2018 | 2017 | 2016 | 2015 | 2014 |
| Gross written premiums | 1,592 | 1,404 | 1,183 | 1,193 | 536 |
| Net earned premiums | 1,480 | 1,248 | 1,104 | 1,109 | 477 |
| Investment result | 2 | 20 | 23 | 22 | 15 |
| Net insurance claims | -905 | -773 | -694 | -687 | -312 |
| Acquisition costs | -317 | -275 | -251 | -253 | -115 |
| Administrative expenses | -125 | -111 | -110 | -147 | -80 |
| Other | 3 | - | - | - | - |
| Insurance profit | 138 | 109 | 72 | 44 | -16 |
| Exchange rate EUR/LTL in PLN | 4.2669 | 4.2447 | 4.3757 | 4.1848 | 1.2133 |
| Acquisition costs ratio* | 21.40% | 22.00% | 22.70% | 22.80% | 24.20% |
| Administrative expenses ratio* | 8.40% | 8.90% | 10.00% | 13.30% | 16.80% |
* ratios calculated with net premium earned
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