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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.
PZU Group

List of GRIs

List of GRIs

Business model

PZU AR 2021 > Business model
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The PZU Group is a conglomerate comprised of insurance, financial and health care companies. It is headed by PZU, which, as a parent company, acts as a competence center setting standards of operation for the other entities. Among others, it defines the guidelines for capital safety, risk management or internal control systems, building common solutions on them. Of particular importance for the insurance segment is the cooperation between PZU and PZU Życie, which operate with shared structures, especially in terms of strategic management and risk, as well as operational support.

Insurance is the core business of the PZU Group. The business model utilizes effective sales channels and efficient claims handling functions in their midst. The PZU Group offers insurance in Poland, Lithuania and Ukraine (life and non-life insurance), as well as in Latvia and Estonia (non-life insurance). In Poland the PZU Group has a comprehensive product offer of life and non-life insurance for 16 million clients. They are retail clients, sole proprietors, small and medium enterprises and large corporates. The insurance offer is supplemented by comprehensive medical and investment services.

The core PZU Group companies include:

  • PZU, PZU Życie, TUW PZUW, LINK4 – insurance in Poland;
  • Lietuvos Draudimas (Lithuania), AAS Balta (Latvia) – insurance abroad;
  • TFI PZU – investments;
  • PZU Zdrowie – medical care;
  • Bank Pekao, Alior Bank – banking.

PZU Group - simplified presentation of the business model

Operating model and value

Insurance is the PZU Group’s core business. It is the basis for comprehensive product offerings focused on broadly defined safety. This is why the non-insurance activity should be analyzed primarily as an element supporting sales of the basic insurance offer. Banking operations play a unique role in the PZU Group’s value chain. The parent entity in the PZU Group, i.e. PZU, holds shares allowing it to exercise control over two banks, Alior Bank and Bank Pekao. From the business perspective, this ensures effective cooperation in mutually supporting sales of insurance and banking products. From the shareholders’ perspective, the banks contribute to the net profit, which may be distributed as dividends in accordance with the PZU Group’s capital and dividend policy.