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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
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Operational efficiency ratios

Annual Report 2019 > Operational efficiency ratios
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Operating efficiency ratios of the PZU Group 2015 2016 2017 2018 2019
1 Gross claims and benefits ratio (simple) (gross claims /gross written premium) x 100% 66.9% 63.7% 67.3% 63.8% 66.5%
2 Net claims and benefits ratio (net claims paid and benefits/net earned premium) × 100% 68.2% 68.4% 70.0% 65.2% 68.0%
3 Operating expense ratio in the insurance segments (insurance activity expenses/net earned premium) x 100% 23.3% 22.5% 21.1% 21.4% 22.3%
4 Acquisition expense ratio in the insurance segments (acquisition expenses/net earned premium) x 100% 14.1% 14.3% 14.0% 14,5% 15.1%
5 Administrative expenses ratio in insurance segments (administrative expenses/net earned premium) x 100% 9.2% 8.3% 7.2% 6.9% 7.2%
6 Combined ratio in non-life insurance (net claims and benefits + insurance activity expenses)/net earned premium x 100% 94.5% 94.9% 89.6% 87.1% 88.5%
7 Operating profit margin in life insurance (operating profit/gross written premium) x 100% 22.3% 25.3% 19.3% 21.3% 20.5%
8 Costs / Income Ratio - banking activity - 44.4% 48.0% 42.3% 40.8%
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https://raportroczny2018.pzu.pl/en/results-2018/operational-efficiency-ratios