Navigation Map

Download our best practices
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.

In the Chapter


PZU Group’s value creation model [IIRC]

Annual Report 2019 > PZU Group’s value creation model [IIRC]
Facebook Twitter All
Integrated Navigation
Best Pratices in PZU

What is the value creation model according to the international guidelines given by the International Integrated Reporting Council (IIRC)?

Integrated reporting makes it possible to combine material information pertaining to an organization’s strategy, approach to management, performance and future prospects in a way that reflects the financial, social and environmental context of an organization’s operations. The report depicts its approach to creating value over time while using the capital available to it. Capital is a resource which the organization can access and use to create value. Legally, however, it does not have to belong to the organization.

IIRC distinguishes the following six types of capital:

  • Financial capital – resource containing funds that arises by providing funding through loans or grants, or is generated through operating activity. These funds include shareholder funds, equity and external capital;
  • Intellectual capital – organization’s resource based on knowledge, experience, including among others intellectual property such as patents, copyrights, software, rights and licenses, the organization’s know how, motivation to improve and develop processes, leadership and cooperation and investments in new solutions and innovations facilitating development;
  • Human capital – competences, know how, skills, experience and motivation of employees to develop and innovate, including the capacity of grasping and implementing the organization’s strategy;
  • Social and relational capital – reputation, earned trust and the quality of relations with clients, communities and other stakeholders;
  • Infrastructural capital – physical objects used by the organization in the process of producing goods or rendering services (branches, centers) as well as the distribution network formed by agents, private persons conducting agency activity and other partners cooperating with the PZU Group;
  • Natural capital – renewable and unrenewable natural resources (including water, minerals and air) and processes whereby products or services are delivered.

“An organization should portray value creation from the perspective of inputs, outputs and outcomes”

Source: <IR> framework, International Integrated Reporting Council

How does the PZU Group create value?

The PZU Group leverages its tangible and intangible resources to create value for its shareholders, clients, employees and agents, and exert an influence on the Polish economy and its sectors. 


  • PLN 343,340 million – consolidated assets (versus PLN 328,554 million in 2018)
  • PLN 16,169 million – parent company’s equity (versus PLN 14,925 million in 2018)
  • PLN 6 700 million – Group’s bonds (subordinated liabilities) (PLN 6,061 million in 2018)
  • PLN 217,831 million – bank deposits from clients (PLN 206,909 million in 2018)
  • PLN 24,191 milliongross written premium (life insurance and non-life insurance) (PLN 23,470 million in 2018)
  • PLN 9.7 billiongross written premium on motor insurance (PLN 9.9 billion in 2018)
  • PLN 5.8 billiongross written premium on non-life insurance other than motor insurance (PLN 5.2 billion in 2018)
  • PLN 7.0 billiongross written premium on group and individually continued life insurance (PLN 6.9 billion in 2018)

Products and distribution:

  • broadest offer of insurance, investment and banking products in Poland
  • 410 PZU branches (411 in 2018), 805 Bank Pekao branches (825 in 2018), 820 Alior Bank branches (861 in 2018)
  • 10.0 thousand tied agents and agencies (9.1 thousand in 2018)
  • 4.8 thousand hotline employees (PZU, PZU Zdrowie, LINK4, Alior, Pekao) (4.8 thousand in 2018)
  • ~25 main products with possible customization of the offer and a broad portfolio of medical services offered by PZU Zdrowie (approx. 20 in 2018)
  • 130 own medical centers (over 60 in 2018) and over 2,200 medical centers collaborating as part of PZU Zdrowie’s network (2,100 in 2018)


  • 41,042 PZU Group employees converted into FTEs (41,605 in 2018)
  • 68% women and 32% men (same as in 2018)
  • 13% employed in management positions, 87% employed in other positions (same as in 2018)
  • 76 persons employed in the Group’s innovation centers (70 in 2018)


  • 967 thousand training hours throughout the PZU Group (893 thousand in 2018)
  • 23.2 h of training per year per PZU Group employee (21.5 in 2018)
  • More than PLN 271 million of investments (financial expenditures) throughout the Group for technological projects aimed at boosting innovation (PLN 275 million in 2018)
  • 5 innovation centers (PZU Innovation Laboratory, PZU LAB, LINK4 Business and Innovation Development Division, Alior Bank Innovation Center, Bank Pekao Innovation Laboratory)
  • 38% of pending projects involved technological changes at PZU and PZU Życie (42% in 2018)


PZU Group’s Standard – Green PZU showing the direct environmental impact of the conducted activity (including atmospheric emissions, waste generation, water consumption, power consumption and paper usage) as well as indirect (related to relations with third parties, including environmental practices of suppliers and business partners and shaping environmental awareness).

Social relations:

  • PLN 51.8 million allocated to prevention activities by PZU, PZU Życie and TUW PZUW (PLN 53.1 million in 2018)
  • PLN 11.2 million allocated to sponsorship activities by PZU and PZU Życie (PLN 12.9 million in 2018)
  • PLN 20.7 million allocated by PZU and PZU Życie to endeavors of the PZU Foundation (PLN 20.7 million 2018)
  • PLN 3.7 million donated as part of the nationwide preventive campaign called Helping is Power – ”Healthy and safe family” (more than PLN 3 million in 2018)
  • PLN 5.0 million donated as part of the nationwide preventive campaign called Helping is Power – ”Support for voluntary firefighting units” (PLN 0 million in 2018)
  • 1,170 PZU volunteers (630 in 2018), 880 Pekao volunteers (1,130 in 2018) and 559 Alior volunteers (approx. 200 in 2018)
  • 175,823 beneficiaries who were assisted by PZU employees as part of voluntary work (12,945 in 2018)*
  • 210 preventive USG examinations sponsored by the PZU Foundation on the occasion of Women’s Day and Mother’s Day for women employed by PZU (460 in 2017-2018)

* The increased number of beneficiaries results from the employees’ involvement in environmental projects, including cleaning of forests and rivers – such a cleaned areas are used by many people and animals.

What does that entail in practice?

At the same time, the PZU Group effectively utilizes scale of operations, innovativeness (products and services), more than 200 years of its experience and knowledge of client needs - today and tomorrow. 


How outputs and impact are measured?

New, more integrated PZU Group will be able to help clients better at all stages of life and support sustainable development of the Polish economy. 


  • PLN 6,102 million of claims and benefits paid in life insurance (PLN 6,049 million in 2018)
  • PLN 7,925 million of claims and benefits paid in non-life insurance (PLN 7,263 million in 2018)
  • PLN 105.9 billion of bank loans granted to natural persons (PLN 97.6 billion in 2018)
  • PLN 89.0 billion of bank loans granted to corporations (PLN 84.5 billion in 2018)
  • 10.7 million clients of PZU Życie (10.8 million in 2018)
  • PLN 138 billion sum of sums insured for MOD insurance on vehicles (PLN 117 billion in 2018)
  • PLN 1,814 billion sum of sums insured for buildings against damage caused by natural disasters (PLN 1,670 billion in 2018)
  • 122 thousand doctor consultations arranged monthly by PZU Zdrowie (100 thousand in 2018)
  • 85% of PZU clients satisfied with the claims and benefits handling process (83.5% in 2018)
  • 18.7% –NPS (net promotor score) for PZU and PZU Życie (6.4% in 2018)
  • 97.93%, 97.7%, 91.5%, 77.5% – complaints handling timeliness ratio for the PZU Group, PZU Zdrowie Group, Alior Group and Pekao Group, respectively (97,9%, 97.0%, 95,7%, 90.5% in 2018)

Emloyees and agents

  • 15.7% of PZU and PZU Życie employee turnover (15.6% in 2018)
  • 9.9% and 8.5% of internal vertical promotions for women and men, respectively, at PZU and PZU Życie (9.8% and 7.2% in 2018)
  • 84.3% of employees covered by additional medical insurance Opieka Medyczna funded by PZU (81% in 2018)
  • 86.2% of PZU and PZU Życie employees covered by the company’s Employee Pension Scheme (EPS) (86% in 2018)
  • 573 agents in the Elite Agent Club (711 in 2018)
  • 1,052 PZU Sport Team members 17,847 kilometers run, 1,483 nautical miles swum, 7,422 person-hours of training with ski instructors (2019)

Central administration

  • PLN 1,844 million of current income tax paid on the PZU Group’s consolidated earnings (PLN 2,098 million in 2018)
  • PLN 1,134 million of levy on financial institutions (PLN 1,092 million in 2018)
  • Financing the state budget’s borrowing needs: PLN 68.6 billion – value of Treasury Securities in the portfolio of PZU Group companies (PLN 61.6 billion in 2018)

Investors and shareholders

  • 21.2% – return on equity for shareholders of the parent company (22.1% in 2018)
  • PLN 2,418 million of dividend paid from PZU (PLN 2,159 million in 2018), PLN 1,732 million from Pekao (PLN 2,074 million in 2018)
  • PLN 7,084 million of the Group’s operating profit (PLN 7,087 million in 2018)
  • PLN 5,185 million of consolidated net profit (PLN 5,368 million in 2018)
  • Insurance – 88.4% of profitability of non-life insurance IN Poland – COR (86.6% in 2018)
  • Insurance: 21.3% of operating margin in group and individually continued insurance (22.1% in 2018)
  • Banking: PLN 7,216 million of investment gains net of interest expenses (PLN 6,945 million in 2018)
  • Banking: PLN 3,147 million of net fee and commission income (PLN 3,182 million in 2018)
  • High level of security: Solvency II ratio for the PZU Group at 220% of after Q3 2019 (222% in 2018)
  • A-/positive rating awarded by S&P Global Ratings for PZU and PZU Życie – one of the highest possible ratings for a Polish company to receive
  • Inclusion in the WIG ESG index

Social environment

  • 187 initiatives pursued by the PZU Foundation to promote art and culture (881 of all initiatives) (in 2018, 187 and 845 initiatives, respectively)
  • 7,8 million visitors to cultural institutions supported by PZU (4.5 million in 2018)
  • 6,070 persons to whom support was provided under the PZU Foundation’s grant contests (8,234 in 2018)
  • 19 thousand school children participating in the PZU Foundation’s Academy of Safety original project (18 thousand in 2018)
  • 533 students eligible to take part in the “Gifted Persons Aid Program” in the 2018/2019 school year
  • 385 persons in a difficult situation who received subsidies for rehabilitation, purchasing medications and rehabilitation equipment from the PZU Foundation (403 in 2018)
  • >100,000 participants in running events held by PZU (117,980 in 2018)
  • 214,514 hours worked by volunteer rescuers under cooperation with the Voluntary Mountain Rescue Service (GOPR) (222,857 in 2018)
  • 175,823 beneficiaries aided by PZU employees through voluntary work (12,945 in 2018)