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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.
Employees
Society
Ethics
Environment
Products
Overview
Health
Banking
Investments
Insurance
Business
practices
Non-financial data
Strategic data

In the Chapter

PZU Group Overview
PZU Group’s financial effectiveness
Business model [UoR] [IIRC]
PZU Group’s value creation model
Structure of the PZU Group
Non-life insurance (PZU, LINK4 and TUW PZUW)
Life insurance (PZU Życie)
Banking (Bank Pekao, Alior Bank)
Mutual funds and Employee Capital Schemes (TFI PZU)
International operations
Medical services (Health)
Pension funds (PTE PZU)
Other operating areas

GRIs

102-7 Scale of the reporting organization
201-1 Direct economic value generated and distributed

In the Chapter

Employee issues
Human Capital Management
Working conditions
Employee development
Knowledge sharing

GRIs

102-8 Data pertaining to employees and other persons working for the organization
103-2 Approach to management and its elements
401-1 New employee hires and employee turnover
403-2 403-2 Rate for injury, occupational diseases, lost days, and absenteeism, and number of work-related fatalities
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

PZU Group’s social commitment
Safety
Health
Cultural patronage
Improvement of living conditions in local communities

GRIs

102-12 Externally developed economic, environmental and social charters, principles, or other initiatives to which the organization subscribes or which it endorses
103-2 Approach to management and its elements

In the Chapter

Business in the face of climate change
Direct environmental impact

GRIs

103-2 Approach to management and its elements
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
303-1 Total water consumption by source
305-1 Total direct GHG emissions (Scope 1)
305-2 Electricity indirect GHG emissions (Scope 2)
305-3 Other indirect GHG emissions (Scope 3)
305-4 GHG emissions intensity
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

In the Chapter

Ethical foundations of business operations
Corporate governance and risk management, giving consideration to ESG and climate factors
Preventing corruption and conflict of interests
Diversity and respecting human rights
Whistleblowing system
Transaction security
Cooperation with supplier

GRIs

102-5 Organization’s form of ownership and legal form
102-9 Description of the supply chain
102-11 Explanation of whether and how the precautionary principle is addressed by the organization
102-12 Externally developed economic, environmental and social charters, principles, or other initiatives to which the organization subscribes or which it endorses
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
102-18 Organization’s supervisory structure along with the commissions that report to the highest supervisory body
103-2 Approach to management and its elements
103-3 Evaluation of the approach to management
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
205-3 Confirmed cases of corruption and actions taken
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

PZU Group’s new operating model
Insurance
Health
Banking and strategic partnerships
Management of the PZU Group’s brands
Client at the center of attention
Innovations
Responsible sales
Cybersecurity

GRIs

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
418-1 Substantiated complaints regarding breaches of client privacy and data loss

In the Chapter

Operating model
PZU Group’s financial effectiveness
Digitization – the future of insurance undertakings
Client at the center of attention
Innovations
Responsible sales
Cybersecurity
Climate
Business in the face of climate change
Direct environmental impact
Employee
Working conditions
Employee development
Knowledge sharing
Risk and ethics
Safety
Corporate governance and risk management, giving consideration to ESG and climate factors
Preventing corruption and conflict of interests
Diversity and respecting human rights
Whistleblowing system
Transaction security
Cooperation with suppliers
Dialogue with the environment
Risk appetite
PZU Group’s risk profile
Reinsurance operations
Business
Polish and Baltic States insurance sector compared to Europe
Non-life insurance (PZU, LINK4 and TUW PZUW)
Life insurance (PZU Życie)
International operations
Insurance
Contribution made by the market segments to the consolidated result

In the Chapter

Operating model
Client at the center of attention
Responsible sales
Climate
Direct environmental impact
Employee
Working conditions
Employee development
CSR
PZU Group’s social commitment
Risk and ethics
Ethical foundations of business operations
Corporate governance and risk management, giving consideration to ESG and climate factors
Diversity and respecting human rights
Whistleblowing system
Transaction security
Market
Polish banking sector compared to Europe
Banking (Bank Pekao, Alior Bank)
Banking and strategic partnerships
Risk appetite
PZU Group’s risk profile
Business
Contribution made by the market segments to the consolidated result
Banking sector on the Warsaw Stock Exchange

In the Chapter

Operating model
Client at the center of attention
Climate
Business in the face of climate change
Employee
Working conditions
Risk and ethics
Ethical foundations of business operations
Diversity and respecting human rights
Business
Situation on the financial markets
Banking (Bank Pekao, Alior Bank)
Mutual funds and Employee Capital Schemes (TFI PZU)
Contribution made by the market segments to the consolidated result

In the Chapter

Operating model
Client at the center of attention
Health
Employee
Working conditions
Employee development
Risk and ethics
Diversity and respecting human rights
Whistleblowing system
Business
Medical services (Health)

In the Chapter

Operating model
Client at the center of attention
Innovations
Responsible sales
Cybersecurity
Climate
Business in the face of climate change
Direct environmental impact
Employee
Working conditions
Employee development
Knowledge sharing
CSR
PZU Group’s social commitment
Safety
Health
Improvement of living conditions in local communities
Risk and ethics
Ethical foundations of business operations
Corporate governance and risk management, giving consideration to ESG and climate factors
Preventing corruption and conflict of interests
Diversity and respecting human rights
Transaction security
Cooperation with supplier
Dialogue with the environment
a a a

51.1 Key management

Annual Report 2019 > 51.1 Key management
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The PZU Management Board Members and PZU Group Directors are assumed to be the key management of the PZU Group.

In 2019 and in 2018, the PZU Group companies did not grant any loans or similar benefits to members of their key management.

Compensation of the key management and members of the PZU SA Supervisory Board


Compensation of PZU’s key management (Management Board members, senior managers and Supervisory Board members who discharged their functions for at least one day in 2019 or 2018). The figures are presented in thousands of PLN.

Compensation and other short-term employee benefits paid by PZU 1 January – 31 December 2019(PLN 000s) 1 January – 31 December 2018(PLN 000s)
    including part of variable compensation for 2017 and 2018   including bonuses and special awards:
Management Board, of which: 10,664 4,412 3,857 -
Paweł Surówka 1,799 915 793 -
Aleksandra Agatowska 611 423 n/a n/a
Adam Brzozowski 532 - n/a n/a
Marcin Eckert 672 - n/a n/a
Elżbieta Häuser-Schöneich 532 - n/a n/a
Tomasz Kulik 1,482 627 766 -
Maciej Rapkiewicz 1,733 879 766 -
Małgorzata Sadurska 1,543 689 766 -
Roger Hodgkiss 1,7601 879 766 -
High-level managers (PZU Group Directors), including: 3,530 2,034 1,451 11
Aleksandra Agatowska 239 - 203 -
Tomasz Karusewicz 7932 565 307 -
Bartłomiej Litwińczuk 821 482 307 -
Dorota Macieja 754 415 317 113
Roman Pałac 923 572 317 -
Supervisory Board, of which: 1,761 - 1,420 -
Maciej Łopiński 184 - 169 -
Paweł Górecki 182 - 170 -
Alojzy Nowak 182 - 170 -
Marcin Chludziński 167 - 156 -
Agata Górnicka 167 - 156 -
Robert Jastrzębski 176 - 127 -
Tomasz Kuczur 101 - n/a n/a
Elżbieta Mączyńska-Ziemacka 101 - n/a n/a
Krzysztof Opolski 101 - n/a n/a
Robert Śnitko 167 - 156 -
Maciej Zaborowski 167 - 156 -
Katarzyna Lewandowska 66 - 157 -
Aneta Fałek n/a n/a 3 -

1 Including non-competition fee of PLN 383 thousand and severance pay of PLN 192 thousand.
2 Including non-competition fee of PLN 49 thousand and severance pay of PLN 77 thousand.
3 Bonus for the Sponsoring Director function discharged from 1 January to 14 March 2017.

51.1.1_en.xlsx

In 2019, PZU Management Board members were paid part of the benefits for 2017 under the variable compensation system. The payout of the remaining part of the bonus for 2017 and 2019 may be made in subsequent periods. A provision has been recognized for these benefits with the total amount of PLN 11,791 thousand as at 31 December 2019 (including the employer’s burdens; PLN 9,054 thousand as at 31 December 2018).

 

Compensation and other short-term employee benefits paid by other PZU Group entities 1 January – 31 December 2019(PLN 000s) 1 January – 31 December 2018(PLN 000s)
    including part of variable compensation for 2017 and 2018   including bonuses and special awards:
Management Board, of which: 1,471 1,012 90 -
Paweł Surówka 67 67 901 -
Aleksandra Agatowska 788 377 n/a n/a
Marcin Eckert 48 - n/a n/a
Tomasz Kulik 298 298 - -
Maciej Rapkiewicz 135 135 - -
Roger Hodgkiss 135 135    
High-level managers (PZU Group Directors), including: 3,831 1,946 2,206 6
Aleksandra Agatowska n/a n/a 344 -
Tomasz Karusewicz 8572 515 460 -
Bartłomiej Litwińczuk 979 471 460 -
Dorota Macieja 943 434 466 63
Roman Pałac 1,052 526 476 -

1 Remuneration for the function of Pekao Supervisory Board Member discharged from 1 January to 20 June 2018.
2 Including non-competition fee of PLN 74 thousand and severance pay of PLN 115 thousand.
3 Bonus for the Sponsoring Director function discharged from 1 January to 14 March 2017.

51.1.2_en.xlsx
 
Total estimated value of non-cash benefits granted by PZU and PZU’s subsidiaries 1 January – 31 December 2019(PLN 000s) 1 January – 31 December 2018(PLN 000s)
Management Board, of which: 2,242 515
Paweł Surówka 331 149
Aleksandra Agatowska 207 n/a
Adam Brzozowski 148 n/a
Marcin Eckert 200 n/a
Elżbieta Häuser-Schöneich 119 n/a
Tomasz Kulik 6491 77
Maciej Rapkiewicz 227 64
Małgorzata Sadurska 259 110
Roger Hodgkiss 102 115
High-level managers (PZU Group Directors), including: 768 525
Aleksandra Agatowska n/a 111
Tomasz Karusewicz 143 89
Bartłomiej Litwińczuk 200 118
Dorota Macieja 197 78
Roman Pałac 228 129

1 Including PLN 473 thousand for the Advanced Management Program at Harvard Business School.

51.1.3_en.xlsx