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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).
In the Chapter
GRIs
In the Chapter
GRIs
In the Chapter
GRIs
In the Chapter
GRIs
In the Chapter
GRIs
In the Chapter
GRIs
In the Chapter
Operating model
Climate
Employee
Risk and ethics
Business
In the Chapter
Operating model
Climate
Employee
CSR
Risk and ethics
Market
Business
In the Chapter
Operating model
Employee
Risk and ethics
Business
In the Chapter
Operating model
Employee
Risk and ethics
Business
In the Chapter
Operating model
Climate
Employee
CSR
Risk and ethics
44.3 Quantitative data
44.3.1. Deferred tax assets
| Unrecognized deferred tax assets resulting from the tax loss according to legally permissible realization term | 31 December 2019 | 31 December 2018 |
| up to 1 year | 1 | 4 |
| 1 to 5 years | 14 | 9 |
| over 5 years | 3 | 6 |
| term unlimited by law | 2 | 2 |
| Total | 20 | 21 |
| Movement in deferred tax assets in the year ended 31 December 2019 | Balance at the beginning of the period | Changes recognized in the financial result | Changes recognized in other comprehensive income | Other changes | Balance at the end of the period |
| Loan receivables from clients | 1,158 | (25) | (4) | 14 | 1,143 |
| Upfront bank commissions | 580 | 36 | - | 4 | 620 |
| Liabilities to clients under deposits | 58 | 9 | - | 1 | 68 |
| Intangible assets – trademarks and client relations | (291) | 50 | - | (5) | (246) |
| Financial instruments | 237 | (79) | (38) | 1 | 121 |
| Real property | (61) | 12 | - | (3) | (52) |
| Accrued reinsurance income and expenses | 34 | (16) | - | - | 18 |
| Provisions for employee benefits | 72 | (2) | - | - | 70 |
| Provisions for bonuses | 74 | (15) | - | 4 | 63 |
| Other provisions and liabilities | 332 | 119 | - | 17 | 468 |
| Tax losses carried forward | 37 | (1) | - | - | 36 |
| Provision for restructuring expenses | 4 | - | - | - | 4 |
| Total deferred tax assets | 2,234 | 88 | (42) | 33 | 2,313 |
| Movement in deferred tax assets in the year ended 31 December 2018 | Balance at the beginning of the period | The effect of the application of IFRS 9 | Changes recognized in the financial result | Changes recognized in other comprehensive income | Other changes | Balance at the end of the period |
| Loan receivables from clients | 809 | 308 | 48 | (7) | - | 1,158 |
| Upfront bank commissions | 478 | 45 | 57 | - | - | 580 |
| Liabilities to clients under deposits | 68 | - | (10) | - | - | 58 |
| Intangible assets – trademarks and client relations | (340) | - | 49 | - | - | (291) |
| Financial instruments | 248 | - | 11 | (21) | (1) | 237 |
| Real property | (74) | - | 13 | - | - | (61) |
| Accrued reinsurance income and expenses | 18 | - | 16 | - | - | 34 |
| Provisions for employee benefits | 85 | - | (13) | - | - | 72 |
| Provisions for bonuses | 67 | - | 7 | - | - | 74 |
| Other provisions and liabilities | 193 | - | 139 | - | - | 332 |
| Tax losses carried forward | 31 | - | 7 | - | (1) | 37 |
| Provision for restructuring expenses | 7 | - | (3) | - | - | 4 |
| Total deferred tax assets | 1,590 | 353 | 321 | (28) | (2) | 2,234 |
44.3.2. Deferred tax liability
| Movement in deferred tax liabilities in the year ended 31 December 2019 | Balance at the beginning of the period | Changes recognized in the financial result | Changes recognized in other comprehensive income | Other changes | Balance at the end of the period |
| Financial instruments | 122 | 153 | 74 | 1 | 350 |
| Recourse receivables | 9 | (1) | - | - | 8 |
| Real property | 57 | (7) | 1 | 24 | 75 |
| Deferred acquisition expenses | 277 | 5 | - | - | 282 |
| Accrued reinsurance income and expenses | (6) | - | - | - | (6) |
| Intangible assets – trademarks and client relations | 58 | 2 | - | (1) | 59 |
| Provisions for employee benefits | (15) | (3) | - | - | (18) |
| Provision for bonuses | (53) | (4) | - | 5 | (52) |
| Liabilities unpaid to natural persons (under mandate contracts, agency contracts etc.) | (73) | (4) | - | - | (77) |
| Other provisions and liabilities | (105) | (3) | - | 4 | (104) |
| Prevention fund | 14 | (1) | - | - | 13 |
| Equalization provision | 145 | (1) | - | - | 144 |
| Tax losses carried forward | (17) | 3 | - | (3) | (17) |
| Other differences | 73 | - | - | 4 | 77 |
| Total movement in deferred tax liabilities | 486 | 139 | 75 | 34 | 734 |
| Movement in deferred tax liabilities in the year ended 31 December 2018 | Balance at the beginning of the period | The effect of the application of IFRS 9 | Changes recognized in the financial result | Changes recognized in other comprehensive income | Other changes | Balance at the end of the period |
| Financial instruments | 229 | (3) | (45) | (60) | 1 | 122 |
| Recourse receivables | 9 | - | - | - | - | 9 |
| Real property | 73 | - | 14 | 1 | (31) | 57 |
| Deferred acquisition expenses | 268 | - | 9 | - | - | 277 |
| Accrued reinsurance income and expenses | 14 | - | (20) | - | - | (6) |
| Intangible assets – trademarks and client relations | 61 | - | (3) | - | - | 58 |
| Provisions for employee benefits | (12) | - | (3) | - | - | (15) |
| Provision for bonuses | (50) | - | (3) | - | - | (53) |
| Liabilities unpaid to natural persons (under mandate contracts, agency contracts etc.) | (65) | - | (8) | - | - | (73) |
| Other provisions and liabilities | (89) | (1) | (15) | - | - | (105) |
| Prevention fund | 17 | - | (3) | - | - | 14 |
| Equalization provision | 137 | - | 8 | - | - | 145 |
| Tax losses carried forward | (18) | - | (2) | - | 3 | (17) |
| Other differences | 64 | (3) | 12 | - | - | 73 |
| Total movement in deferred tax liabilities | 638 | (7) | (59) | (59) | (27) | 486 |