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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 .:
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PZU Group

List of GRIs

List of GRIs

22. Administrative expenses

PZU AR 2021 > Results > Supplementary information and notes > 22. Administrative expenses
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22.1 Accounting policy

Administrative expenses include, among others:

  • In insurance activity – insurance activity expenses not classified as acquisition expenses, related to premium collection, expenses related to management of the insurance contracts portfolio, reinsurance contracts portfolio and to overall management of PZU Group’s insurance companies;
  • In banking activity – bank’s operating expenses, including employee, material costs, depreciation, taxes and fees.

22.2 Quantitative data

Administrative expenses by type 1 January – 31 December 2021 1 January – 31 December 2020
Consumption of materials and energy 122 128
Third party services 1 260 1 243
Taxes and charges 108 102
Employee expenses 3 808 3 659
Depreciation of property, plant and equipment 578 580
Amortization of intangible assets 436 397
Compensation of group insurance administrators in work establishments 203 205
Other, including: 311 283
– advertising 202 155
– other 109 128
Total administrative expenses 6 826 6 597