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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
6.6 Quantitative data
| Corporate insurance (non-life insurance) | 1 January 2019 – 31 December 2019 | 1 January 2018 – 31 December 2018 |
| Gross written premium – external | 3,264 | 3,059 |
| Gross written premium – cross-segment | 52 | 38 |
| Gross written premiums | 3,316 | 3,097 |
| Movement in provision for unearned premiums and gross provision for unexpired risks | (283) | (322) |
| Gross earned premium | 3,033 | 2,775 |
| Reinsurers’ share in gross written premium | (786) | (582) |
| Reinsurer’s share in the movement in provision for unearned premiums and the gross provision for unexpired risk | 229 | 133 |
| Net earned premiums | 2,476 | 2,326 |
| Investment income, including: | 100 | 113 |
| external operations | 100 | 113 |
| intersegment operations | – | – |
| Other net technical income | 32 | 50 |
| Income | 2,608 | 2,489 |
| Net insurance claims and benefits | (1,610) | (1,591) |
| Movement in other net technical provisions | 7 | 2 |
| Acquisition expenses | (519) | (477) |
| Administrative expenses | (131) | (131) |
| Reinsurance commissions and profit participation | 43 | 39 |
| Other | (71) | (63) |
| Insurance result | 327 | 268 |
| Mass insurance (non-life insurance) | 1 January 2019 – 31 December 2019 | 1 January 2018 – 31 December 2018 |
| Gross written premium – external | 10,332 | 10,325 |
| Gross written premium – cross-segment | 71 | 76 |
| Gross written premiums | 10,403 | 10,401 |
| Movement in provision for unearned premiums and gross provision for unexpired risks | (21) | (106) |
| Gross earned premium | 10,382 | 10,295 |
| Reinsurers’ share in gross written premium | (149) | (113) |
| Reinsurer’s share in the movement in provision for unearned premiums and the gross provision for unexpired risk | 28 | (14) |
| Net earned premiums | 10,261 | 10,168 |
| Investment income, including: | 481 | 526 |
| external operations | 481 | 526 |
| intersegment operations | – | – |
| Other net technical income | 126 | 114 |
| Income | 10,868 | 10,808 |
| Net insurance claims and benefits | (6,410) | (6,171) |
| Movement in other net technical provisions | (1) | (44) |
| Acquisition expenses | (1,986) | (1,890) |
| Administrative expenses | (651) | (594) |
| Reinsurance commissions and profit participation | 3 | (6) |
| Other | (374) | (378) |
| Insurance result | 1,449 | 1,725 |
| Group and individually continued insurance (life insurance) | 1 January 2019 – 31 December 2019 | 1 January 2018 – 31 December 2018 |
| Gross written premium – external | 6,966 | 6,891 |
| Gross written premium – cross-segment | – | – |
| Gross written premiums | 6,966 | 6,891 |
| Movement in the provision for unearned premiums | – | – |
| Gross earned premium | 6,966 | 6,891 |
| Reinsurers’ share in gross written premium | (1) | (1) |
| Reinsurer’s share in the movement in provision for unearned premiums and the gross provision for unexpired risk | – | – |
| Net earned premiums | 6,965 | 6,890 |
| Investment income, including: | 668 | 581 |
| external operations | 668 | 581 |
| intersegment operations | – | – |
| Other net technical income | 3 | 2 |
| Income | 7,636 | 7,473 |
| Net insurance claims and benefits and movement in other net technical provisions | (5,057) | (4,931) |
| Acquisition expenses | (388) | (349) |
| Administrative expenses | (640) | (604) |
| Other | (54) | (46) |
| Insurance result | 1,497 | 1,543 |
| Individual insurance (life insurance) | 1 January 2019 – 31 December 2019 | 1 January 2018 – 31 December 2018 |
| Gross written premium – external | 1,581 | 1,346 |
| Gross written premium – cross-segment | – | – |
| Gross written premiums | 1,581 | 1,346 |
| Movement in the provision for unearned premiums | (2) | (2) |
| Gross earned premium | 1,579 | 1,344 |
| Reinsurers’ share in gross written premium | – | – |
| Reinsurer’s share in the movement in provision for unearned premiums and the gross provision for unexpired risk | – | – |
| Net earned premiums | 1,579 | 1,344 |
| Investment income, including: | 548 | 59 |
| external operations | 548 | 59 |
| intersegment operations | – | – |
| Other net technical income | 1 | – |
| Income | 2,128 | 1,403 |
| Net insurance claims and benefits and movement in other net technical provisions | (1,640) | (976) |
| Acquisition expenses | (139) | (126) |
| Administrative expenses | (72) | (69) |
| Other | (6) | (5) |
| Insurance result | 271 | 227 |
| Investments | 1 January 2019 – 31 December 2019 | 1 January 2018 – 31 December 2018 (restated) |
| Investment income, including: | 397 | (328) |
| – external operations | 333 | (390) |
| – intersegment operations | 64 | 62 |
| Operating result | 397 | (328) |
| Banking activity | 1 January 2019 – 31 December 2019 | 1 January 2018 – 31 December 2018 (restated) |
| Revenue from commissions and fees | 4,008 | 3,868 |
| – external operations | 3,901 | 3,810 |
| – intersegment operations | 107 | 58 |
| Investment income | 9,014 | 8,861 |
| – external operations | 9,014 | 8,861 |
| – intersegment operations | – | – |
| Income | 13,022 | 12,729 |
| Fee and commission expenses | (862) | (753) |
| Interest expenses | (2,013) | (1,904) |
| Administrative expenses | (4,850) | (4,989) |
| Other | (1,799) | (1,047) |
| Operating result | 3,498 | 4,036 |
| Pension insurance | 1 January 2019 – 31 December 2019 | 1 January 2018 – 31 December 2018 |
| Investment income, including: | 6 | 5 |
| external operations | 6 | 5 |
| intersegment operations | – | – |
| Other income | 142 | 149 |
| Income | 148 | 154 |
| Administrative expenses | (43) | (40) |
| Other | (4) | (7) |
| Operating result | 101 | 107 |
| Insurance – Baltic States | 1 January 2019 – 31 December 2019 | 1 January 2018 – 31 December 2018 |
| Gross written premium – external | 1,713 | 1,592 |
| Gross written premium – cross-segment | – | – |
| Gross written premiums | 1,713 | 1,592 |
| Movement in provision for unearned premiums and gross provision for unexpired risks | (54) | (62) |
| Gross earned premium | 1,659 | 1,530 |
| Reinsurers’ share in gross written premium | (57) | (48) |
| Reinsurer’s share in the movement in provision for unearned premiums and the gross provision for unexpired risk | (2) | (2) |
| Net earned premiums | 1,600 | 1,480 |
| Investment income, including: | 38 | 2 |
| external operations | 38 | 2 |
| intersegment operations | – | – |
| Income | 1,638 | 1,482 |
| Net insurance claims and benefits paid | (989) | (905) |
| Acquisition expenses | (335) | (317) |
| Administrative expenses | (133) | (125) |
| Other | 4 | 3 |
| Insurance result | 185 | 138 |
| Insurance – Ukraine | 1 January 2019 – 31 December 2019 | 1 January 2018 – 31 December 2018 |
| Gross written premium – external | 335 | 257 |
| Gross written premium – cross-segment | – | – |
| Gross written premiums | 335 | 257 |
| Movement in provision for unearned premiums and gross provision for unexpired risks | (8) | (12) |
| Gross earned premium | 327 | 245 |
| Reinsurers’ share in gross written premium | (106) | (96) |
| Reinsurer’s share in the movement in provision for unearned premiums and the gross provision for unexpired risk | (4) | 3 |
| Net earned premiums | 217 | 152 |
| Investment income, including: | 33 | 19 |
| external operations | 33 | 19 |
| intersegment operations | – | – |
| Income | 250 | 171 |
| Net insurance claims and benefits paid | (81) | (59) |
| Acquisition expenses | (118) | (82) |
| Administrative expenses | (31) | (25) |
| Other | 19 | 18 |
| Insurance result | 39 | 23 |
| Investment contracts | 1 January 2019 – 31 December 2019 | 1 January 2018 – 31 December 2018 |
| Gross written premium | 35 | 40 |
| Movement in the provision for unearned premiums | – | – |
| Gross earned premium | 35 | 40 |
| Reinsurers’ share in gross written premium | – | – |
| Reinsurer’s share in the movement in the provision for unearned premiums | – | – |
| Net earned premiums | 35 | 40 |
| Investment income, including: | 16 | (14) |
| external operations | 16 | (14) |
| intersegment operations | – | – |
| Other income | – | – |
| Income | 51 | 26 |
| Net insurance claims and benefits and movement in other net technical provisions | (42) | (15) |
| Acquisition expenses | – | (1) |
| Administrative expenses | (4) | (5) |
| Other | – | (2) |
| Operating result | 5 | 3 |
| Other segments | 1 January 2019 – 31 December 2019 | 1 January 2018 – 31 December 2018 |
| Investment income, including: | 6 | 6 |
| – external operations | 6 | 6 |
| – intersegment operations | – | – |
| Other income | 1,086 | 1,004 |
| Income | 1,092 | 1,010 |
| Expenses | (1,149) | (1,081) |
| Other | 22 | 33 |
| Operating result | (35) | (38) |
| Reconciliations 1 January 2019 – 31 December 2019 | Net earned premiums | Investment income | Net insurance claims and benefits | Acquisition expenses | Administrative expenses | Operating result |
| Corporate insurance | 2,476 | 100 | (1,610) | (519) | (131) | 327 |
| Mass insurance | 10,261 | 481 | (6,410) | (1,986) | (651) | 1,449 |
| Group and individually continued insurance | 6,965 | 668 | (5,057) | (388) | (640) | 1,497 |
| Individual insurance | 1,579 | 548 | (1,640) | (139) | (72) | 271 |
| Investments | – | 397 | – | – | – | 397 |
| Banking activity | – | 9,014 | – | – | (4,850) | 3,498 |
| Pension insurance | – | 6 | – | (5) | (43) | 101 |
| Insurance – Baltic States | 1,600 | 38 | (989) | (335) | (133) | 185 |
| Insurance – Ukraine | 217 | 33 | (81) | (118) | (31) | 39 |
| Investment contracts | 35 | 16 | (42) | – | (4) | 5 |
| Other segments | – | 6 | – | – | – | (35) |
| Total segments | 23,133 | 11,307 | (15,829) | (3,490) | (6,555) | 7,734 |
| Presentation of investment contracts | (35) | (7) | 42 | – | – | – |
| Estimated salvage and subrogation | – | – | (4) | – | – | (4) |
| Valuation of equity instruments | – | (14) | – | – | – | (14) |
| Measurement of properties | – | (4) | – | – | (2) | (9) |
| Elimination of the equalization provision and prevention fund | – | – | – | – | – | (12) |
| Allowances to the Company Social Benefit Fund and actuarial costs | – | – | – | – | (12) | (12) |
| Consolidation adjustments | (8) | 58 | 96 | 127 | (37) | (599)1 |
| Consolidated data | 23,090 | 11,3402 | (15,695) | (3,363) | (6,606) | 7,084 |
1 Consolidation adjustments ensue chiefly from the dividends paid between the various segments and the various accounting standards in which the specific reporting segments are reported (PAS and IFRS) and consolidated data (IFRS).
2 The sum of the following line items in the consolidated profit and loss account: “Net investment income”, “Net result on realization of financial instruments and investments”, “Movement in allowances for expected credit losses and impairment losses on financial instruments” and “Net movement in fair value of assets and liabilities measured at fair value”.
| Reconciliations 1 January 2018 – 31 December 2018(restated) | Net earned premiums | Investment income | Net insurance claims and benefits | Acquisition expenses | Administrative expenses | Operating result |
| Corporate insurance | 2,326 | 113 | (1,591) | (477) | (131) | 268 |
| Mass insurance | 10,168 | 526 | (6,171) | (1,890) | (594) | 1,725 |
| Group and individually continued insurance | 6,890 | 581 | (4,931) | (349) | (604) | 1,543 |
| Individual insurance | 1,344 | 59 | (976) | (126) | (69) | 227 |
| Investments | – | (328) | – | – | – | (328) |
| Banking activity | – | 8,861 | – | – | (4,989) | 4,036 |
| Pension insurance | – | 5 | – | (6) | (40) | 107 |
| Insurance – Baltic States | 1,480 | 2 | (905) | (317) | (125) | 138 |
| Insurance – Ukraine | 152 | 19 | (59) | (82) | (25) | 23 |
| Investment contracts | 40 | (14) | (15) | (1) | (5) | 3 |
| Other segments | – | 6 | – | – | – | (38) |
| Total segments | 22,400 | 9,830 | (14,648) | (3,248) | (6,582) | 7,704 |
| Presentation of investment contracts | (40) | 20 | 15 | – | – | – |
| Estimated salvage and subrogation | – | – | (5) | – | – | (5) |
| Valuation of equity instruments | – | 55 | – | – | – | 55 |
| Measurement of properties | – | (27) | – | – | (5) | (45) |
| Elimination of the equalization provision and prevention fund | – | – | – | – | – | 24 |
| Allowances to the Company Social Benefit Fund and actuarial costs | – | – | – | – | (5) | (5) |
| Consolidation adjustments | (10) | 17 | 75 | 118 | (17) | (641)1 |
| Consolidated data | 22,350 | 9,8952 | (14,563) | (3,130) | (6,609) | 7,087 |
1 Consolidation adjustments ensue chiefly from the dividends paid between the various segments and the various accounting standards in which the specific reporting segments are reported (PAS and IFRS) and consolidated data (IFRS).
2 The sum of the following line items in the consolidated profit and loss account: “Net investment income”, “Net result on realization of financial instruments and investments”, “Movement in allowances for expected credit losses and impairment losses on financial instruments” and “Net movement in fair value of assets and liabilities measured at fair value”.
| Geographic breakdown 2019 | Poland | Baltic States | Ukraine | Not allocated (consolidation eliminationsand other) | Consolidated value |
| Gross written premium – external | 22,143 | 1,713 | 335 | – | 24,191 |
| Gross written premium – cross-segment | 93 | – | – | (93) | – |
| Revenue from commissions and fees | 4,138 | 1 | – | – | 4,139 |
| Investment income1 | 11,269 | 38 | 33 | – | 11,340 |
| Non-current assets, other than financial assets2 | 7,069 | 247 | 6 | – | 7,322 |
| Deferred tax assets | 2,310 | – | 3 | – | 2,313 |
| Assets | 341,327 | 2,877 | 596 | (1,460) | 343,340 |
1 The sum of the following line items in the consolidated profit and loss account: “Net investment income”, “Net result on realization of financial instruments and investments”, “Movement in allowances for expected credit losses and impairment losses on financial instruments” and “Net movement in fair value of assets and liabilities measured at fair value”.
2 applies to intangible assets and property, plant and equipment
| Geographic breakdown 2018 | Poland | Baltic States | Ukraine | Not allocated (consolidation eliminationsand other) | Consolidated value |
| Gross written premium – external | 21,621 | 1,592 | 257 | – | 23,470 |
| Gross written premium – cross-segment | 94 | – | – | (94) | – |
| Revenue from commissions and fees | 4,109 | – | – | – | 4,109 |
| Investment income1 | 9,874 | 2 | 19 | – | 9,895 |
| Non-current assets, other than financial assets2 | 6,122 | 238 | 4 | – | 6,364 |
| Deferred tax assets | 2,231 | – | 3 | – | 2,234 |
| Assets | 326,874 | 2,704 | 409 | (1,433) | 328,554 |
1 The sum of the following line items in the consolidated profit and loss account: “Net investment income”, “Net result on realization of financial instruments and investments”, “Movement in allowances for expected credit losses and impairment losses on financial instruments” and “Net movement in fair value of assets and liabilities measured at fair value”.
2 applies to intangible assets and property, plant and equipment