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- strategy (insurance, health, investments, finances);
- sustainable development (sales, employees, social responsibility, natural environment and ethics).
Corporate Governance
List of GRIs
List of GRIs
List of GRIs
List of GRIs
- About the report
- Results
- Comment on the financial results for 2021
- Major factors contributing to the consolidated financial result
- PZU Group’s income
- PZU Group’s claims paid and technical provisions
- PZU Group’s acquisition and administrative expenses
- Drivers and atypical events affecting the results
- PZU Group’s asset and liability structure
- Contribution made by the market segments to the consolidated result
- Issuer’s financial results – PZU (PAS)
- Supplementary information and notes
- 1. Introduction
- 2. Composition of PZU Group
- 3. Shareholder structure
- 4. Composition of the Management Board, Supervisory Board and PZU Group Directors
- 5. Key accounting policies, key estimates and judgments
- 5.1 Changes in accounting policies and estimates, errors from previous years
- 5.2 Amendments to the applied IFRS
- 5.3 Explanation of the difference between the 2020 annual consolidated financial statements and these consolidated financial statements
- 5.4 Consolidation principles
- 5.5 Measurement of transactions and balances denominated in foreign currencies and FX rates used
- 5.6 Purchase method
- 5.7 Classification of insurance contracts in accordance with IFRS 4
- 6. Segment reporting
- 7. Risk management
- 8. Equity management
- 9. Fair value
- 10. Gross written premiums
- 11. Revenue from commissions and fees
- 12. Interest income calculated using the effective interest rate
- 13. Other net investment income
- 14. Result on derecognition of financial instruments and investments
- 15. Movement in allowances for expected credit losses and impairment losses on financial instruments
- 16. Net movement in fair value of assets and liabilities measured at fair value
- 17. Other operating income
- 18. Claims, benefits and movement in technical provisions
- 19. Fee and commission expenses
- 20. Interest expenses
- 21. Acquisition costs
- 22. Administrative expenses
- 23. Employee expenses
- 24. Other operating expenses
- 25. Income tax
- 26. Earnings per share
- 27. Goodwill
- 28. Intangible assets
- 29. Other assets
- 30. Deferred acquisition cost
- 31. Property, plant and equipment
- 32. Investment property
- 33. Entities measured by the equity method
- 34. Loan receivables from clients
- 35. Financial derivatives
- 36. Investment financial assets, including assets securing liabilities
- 37. Receivables
- 38. Impairment of financial assets
- 39.Cash and cash equivalents
- 40. Equity attributable to equity holders of the parent
- 41. Technical provisions
- 42. Subordinated liabilities
- 43. Liabilities on the issue of own debt securities
- 44. Liabilities to banks
- 45. Liabilities to clients under deposits
- 46. Other liabilities
- 47. Provisions
- 48. Deferred income tax
- 49. Assets and liabilities held for sale
- 50. Lease
- 51. Assets securing receivables, liabilities and contingent liabilities
- 52. Contingent assets and liabilities
- 53. Offsetting financial assets and financial liabilities
- 54. Notes to the consolidated cash flow statement
- 55. Disputes
- 56. Transactions with related entities
- 57. Headcount
- 58. Other information
- Financial data 2021
- Financial data (2017-2021) Focus on: Results - check the highlights of the year!
- Comment on the financial results for 2021
- Market and business
- Capitals (IIRC)
- Strategy and outlook 2021+
- Risk management
- Ethics and governance
- Ethical foundations of doing business
- Application of corporate governance rules
- Financial statements control system
- Audit firm auditing the financial statements
- PZU’s share capital and shareholders
- Rules for amending PZU’s Articles of Association
- Shareholder Meeting and shareholder rights
- Supervisory Board and Management Board
- Compensation paid to members of supervisory and management bodies
- Diversity policy Focus on: Ethics and governance - check the highlights of the year!
- Shares and bonds
Results from capital and impact
GRIs
PZU Group exerts significant influence, among others, on the Polish economy, society and environment. First of all, it is one of the largest employers in Poland, with several dozen thousand employees, makes significant contributions to the state budget from the taxes it pays, invests its assets in stocks, providing the funding needed for their development, and bonds, helping finance infrastructural projects that are important for the country, improvement of education or medical care. Through its assets, the Group is a prominent player on the financial market in Poland, exerting significant influence on its status and development directions. The claims and benefits paid by the Group help businesses maintain continuity of business in unexpected situations and avoid serious financial problems arising, e.g., from downtimes.
By insuring millions of Poles, PZU has real influence on their lives. First of all, the claims and benefits paid out help families to maintain financial stability in difficult situations, such as illness or death of a family member, loss of home due to fire, flooding, etc. This offers additional protection, which provides the sense of stability and safety. In addition, recent years have seen a significant increase in interest in private medical care. Thanks to favorable offers, clients have gained access to high quality medical services, which translates into the quality of examinations, diagnosis and speed of treatment, which in many cases is a decisive factor for the success of therapy. Thus, private medical care relieves the burden on public health care, not only improving the quality of life for those with private cover, but also making the public health care service more efficient and accessible for those who cannot afford private care. Additionally, thanks to its products and investment funds, PZU wants to support Poles in accumulating savings and increase their awareness in this area, thus improving the welfare of society.
Through its activities, PZU also affects the natural environment. Because of its market position, the Group is able to set new trends. For example, by selecting environmentally-friendly investments and sustainable suppliers, it emphasizes the importance of environmental protection and the fight with the climate change. The ESG Strategy defines the path to neutrality. By 2024 PZU will fully use green electricity and curtail other emissions and wherever that will not be plausible it will offset them. By 2030 PZU plans to reduce emissions from its own sources and those originating from the consumption of electricity and heat to an even greater degree and will launch work on reducing emissions in the value chain. This means that it will influence others who cooperate with PZU on a permanent basis to become climate neutral: this will apply to suppliers and partners by 2040 and to insurance clients and investments by 2050. In addition, the Group plans to increase its capital commitment to investments that support the climate and energy transition. One example of these efforts is the allocation of PLN 100 million to co-finance the construction of the largest wind power plant in Poland.
Operational model
Capital (2021)
Capital performance (2021)
Impact (2021)
Investor Relations Team
e-mail: IR@pzu.pl
Magdalena Komaracka, IR Director, tel. +48 (22) 582 22 93
Piotr Wiśniewski, IR Manager, tel. +48 (22) 582 26 23
Aleksandra Jakima-Moskwa, tel. +48 (22) 582 26 17
Aleksandra Dachowska, tel. +48 (22) 582 43 92
Piotr Wąsiewicz, tel. +48 (22) 582 41 95