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39.Cash and cash equivalents

PZU AR 2021 > Results > Supplementary information and notes > 39.Cash and cash equivalents
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39.1 Accounting policy

Cash and cash equivalents include, among others cash at hand and cash in current accounts in banks, including on the NBP account.

Cash is recognized at nominal value.

39.2 Restricted cash

The consolidated cash flow statement carries the cash of insurance companies’ Preventive Funds and VAT split-payments as restricted cash. Pursuant to the Polish regulations and the internal regulations of the PZU Group companies that are based on them, this cash may be spent only for specific purposes as part of preventive activities or VAT split-payments.

39.3 Quantitative data

Cash and cash equivalents in the statement of financial position and cash flow statement 31 December 2021 31 December 2020
Balances with the central bank 1) 2 480 1 098
Cash at bank and in hand 6 967 6 841
Total cash and cash equivalents in the statement of financial position and cash flow statement 9 447 7 939

1) This amount pertains to the required reserve that Pekao and Alior Bank maintain on their current accounts with the National Bank of Poland, at levels consistent with decisions of the Monetary Policy Council.