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
41.3 Quantitative data
| Technical provisions | 31 December 2018 | 31 December 2017 | ||||
| gross | reinsurers’ share | net | gross | reinsurers’ share | net | |
| Technical provisions in non-life insurance | 23,508 | (1,512) | 21,996 | 22,000 | (1,250) | 20,750 |
| Provision for unearned premiums | 8,416 | (594) | 7,822 | 7,877 | (466) | 7,411 |
| Provision for unexpired risk | 10 | - | 10 | 37 | (3) | 34 |
| Provisions for outstanding claims and benefits | 9,098 | (724) | 8,374 | 8,301 | (585) | 7,716 |
| - for reported claims | 3,280 | (603) | 2,677 | 3,187 | (533) | 2,654 |
| - for claims not reported (IBNR) | 3,939 | (103) | 3,836 | 3,348 | (41) | 3,307 |
| - for claims handling expenses | 1,879 | (18) | 1,861 | 1,766 | (11) | 1,755 |
| Provision for the capitalized value of annuities | 5,981 | (194) | 5,787 | 5,776 | (190) | 5,586 |
| Provisions for bonuses and discounts for insureds | 3 | - | 3 | 9 | (6) | 3 |
| Technical provisions in life insurance | 22,331 | - | 22,331 | 22,558 | - | 22,558 |
| Provision for unearned premiums | 99 | - | 99 | 94 | - | 94 |
| Life insurance provision | 16,204 | - | 16,204 | 16,060 | - | 16,060 |
| Provisions for outstanding claims and benefits | 592 | - | 592 | 597 | - | 597 |
| - for reported claims | 152 | - | 152 | 153 | - | 153 |
| - for claims not reported (IBNR) | 434 | - | 434 | 437 | - | 437 |
| - for claims handling expenses | 6 | - | 6 | 7 | - | 7 |
| Provisions for bonuses and discounts for insureds | 4 | - | 4 | 5 | - | 5 |
| Other technical provisions | 256 | - | 256 | 287 | - | 287 |
| Unit-linked provision | 5,176 | - | 5,176 | 5,515 | - | 5,515 |
| Total technical provisions | 45,839 | (1,512) | 44,327 | 44,558 | (1,250) | 43,308 |
41.3.1 Technical provisions in non-life insurance
| Provisions (by accounting classes prescribed by section II of the attachment to the Insurance Activity Act) | 31 December 2018 | 31 December 2017 | ||||
| gross | reinsurers’ share | net | gross | reinsurers’ share | net | |
| Accident and sickness insurance (group 1 and 2) | 439 | (10) | 429 | 392 | (10) | 382 |
| Motor third party liability insurance (group 10) | 14,323 | (380) | 13,943 | 13,544 | (361) | 13,183 |
| Other motor insurance (group 3) | 2,968 | (21) | 2,947 | 2,769 | (21) | 2,748 |
| Marine, aviation and transport insurance (groups 4, 5, 6, 7) | 110 | (42) | 68 | 88 | (20) | 68 |
| Insurance against fire and other property damage (groups 8 and 9) | 2,489 | (706) | 1,783 | 2,221 | (547) | 1,674 |
| TPL insurance (groups 11, 12, 13) | 2,336 | (162) | 2,174 | 2,157 | (106) | 2,051 |
| Credit and suretyship (groups 14, 15) | 233 | (89) | 144 | 196 | (77) | 119 |
| Assistance (group 18) | 302 | (1) | 301 | 280 | (1) | 279 |
| Legal protection (group 17) | 14 | - | 14 | 10 | - | 10 |
| Other (group 16) | 294 | (101) | 193 | 343 | (107) | 236 |
| Total technical provisions | 23,508 | (1,512) | 21,996 | 22,000 | (1,250) | 20,750 |
| Technical provisions in non-life insurance | 31 December 2018 | 31 December 2017 | ||||
| gross | reinsurers’ share | net | gross | reinsurers’ share | net | |
| Short-term | 6,314 | (374) | 5,940 | 5,162 | (312) | 4,850 |
| Non-current | 17,194 | (1,138) | 16,056 | 16,838 | (938) | 15,900 |
| Total technical provisions | 23,508 | (1,512) | 21,996 | 22,000 | (1,250) | 20,750 |
Non-current provisions are provisions from which projected cash flows will occur after elapse of more than 12 months of the end of the reporting period, i.e. 31 December 2018.
Movement in provisions
| Movement in provision for unearned premiums in non-life insurance | 1 January - 31 December 2018 | 1 January - 31 December 2017 | ||||
| gross | reinsurers’ share | net | gross | reinsurers’ share | net | |
| Balance at the beginning of the period | 7,877 | (466) | 7,411 | 6,957 | (377) | 6,580 |
| Increase (decrease) in provisions for policies concluded in the current year | 7,759 | (525) | 7,234 | 7,334 | (429) | 6,905 |
| Increase (decrease) in provisions for policies concluded in previous years | (7,246) | 400 | (6,846) | (6,366) | 336 | (6,030) |
| Foreign exchange differences in the period | 26 | (3) | 23 | (48) | 4 | (44) |
| Total technical provisions | 8,416 | (594) | 7,822 | 7,877 | (466) | 7,411 |
| Movement in provision for unexpired risk | 1 January - 31 December 2018 | 1 January - 31 December 2017 | ||||
| gross | reinsurers’ share | net | gross | reinsurers’ share | net | |
| Balance at the beginning of the period | 37 | (3) | 34 | 26 | - | 26 |
| Increase (decrease) in provisions for policies concluded in the current year | 6 | - | 6 | 33 | (3) | 30 |
| Increase (decrease) in provisions for policies concluded in previous years | (34) | 3 | (31) | (21) | - | (21) |
| Foreign exchange differences in the period | 1 | - | 1 | (1) | - | (1) |
| Balance at the end of the period | 10 | - | 10 | 37 | (3) | 34 |
| Movement in provisions for outstanding claims and benefits in non-life insurance | 1 January - 31 December 2018 | 1 January - 31 December 2017 | ||||
| gross | reinsurers’ share | net | gross | reinsurers’ share | net | |
| Balance at the beginning of the period | 8,301 | (585) | 7,716 | 7,730 | (421) | 7,309 |
| Claims paid for losses in previous years, including: | (3,126) | 238 | (2,888) | (2,713) | 177 | (2,536) |
| - claims paid | (2,703) | 234 | (2,469) | (2,308) | 170 | (2,138) |
| - claims handling expenses | (423) | 4 | (419) | (405) | 7 | (398) |
| Increase (decrease) in provisions, of which: | 3,904 | (371) | 3,533 | 3,305 | (348) | 2,957 |
| - for losses in current year | 3,765 | (489) | 3,276 | 3,212 | (223) | 2,989 |
| - for losses in previous years | 139 | 118 | 257 | 93 | (125) | (32) |
| Other changes | - | (3) | (3) | 6 | 4 | 10 |
| Foreign exchange differences in the period | 19 | (3) | 16 | (27) | 3 | (24) |
| Balance at the end of the period | 9,098 | (724) | 8,374 | 8,301 | (585) | 7,716 |
| Movement in provision for the capitalized value of annuities in non-life insurance | 1 January - 31 December 2018 | 1 January - 31 December 2017 | ||||
| gross | reinsurers’ share | net | gross | reinsurers’ share | net | |
| Balance at the beginning of the period | 5,776 | (190) | 5,586 | 5,673 | (192) | 5,481 |
| Claims paid for losses in previous years | (319) | 7 | (312) | (355) | 11 | (344) |
| Increase (decrease) in provisions for losses in previous years | 250 | (11) | 239 | 212 | (4) | 208 |
| Change in assumptions resulting from a change of technical rates | (16) | 1 | (15) | (16) | 1 | (15) |
| Increase in provisions for losses in current year | 288 | - | 288 | 203 | (4) | 199 |
| Other changes | 2 | (1) | 1 | 59 | (2) | 57 |
| Balance at the end of the period | 5,981 | (194) | 5,787 | 5,776 | (190) | 5,586 |
41.3.2 Technical provisions in life insurance
| Movement in life insurance provisions, provisions for bonuses and discounts and other technical provisions - insurance contracts | 1 January - 31 December 2018 | 1 January - 31 December 2017 | ||||
| gross | reinsurers’ share | net | gross | reinsurers’ share | net | |
| Balance at the beginning of the period | 16,352 | - | 16,352 | 16,254 | - | 16,254 |
| Increase (decrease) in provisions for policies concluded in current year | 350 | - | 350 | 333 | - | 333 |
| Increase (decrease) in provisions for policies concluded in previous years | (246) | - | (246) | (218) | - | (218) |
| Foreign exchange differences | 8 | - | 8 | (17) | - | (17) |
| Balance at the end of the period | 16,464 | - | 16,464 | 16,352 | - | 16,352 |
| Movement in technical provisions for life insurance movement if the policyholder bears the investment risk | 1 January - 31 December 2018 | 1 January - 31 December 2017 | ||||
| gross | reinsurers’ share | net | gross | reinsurers’ share | net | |
| Balance at the beginning of the period | 5,515 | - | 5,515 | 4,917 | - | 4,917 |
| Increases in the fund due to premiums | 1,045 | - | 1,045 | 1,411 | - | 1,411 |
| Fees charged | (104) | - | (104) | (90) | - | (90) |
| Fund’s investment income | (182) | - | (182) | 287 | - | 287 |
| Decreases in the fund on account of benefits, surrenders, etc. | (1,054) | - | (1,054) | (952) | - | (952) |
| Other changes | (44) | - | (44) | (58) | - | (58) |
| Balance at the end of the period | 5,176 | - | 5,176 | 5,515 | - | 5,515 |
| Movement in provisions for outstanding claims and benefits | 1 January - 31 December 2018 | 1 January - 31 December 2017 | ||||
| gross | reinsurers’ share | net | gross | reinsurers’ share | net | |
| Balance at the beginning of the period | 597 | - | 597 | 542 | - | 542 |
| Utilization of claims provisions during the year | (598) | - | (598) | (572) | - | (572) |
| Establishment of claims provisions during the year | 593 | - | 593 | 627 | - | 627 |
| Balance at the end of the period | 592 | - | 592 | 597 | - | 597 |
