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Navigation Map
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
47.2. Quantitative data
47.2.1. PZU Group as the lessor
47.2.1.1. Finance leases
| Leasing investments | 31 December 2019 |
| Undiscounted lease payments | 10,688 |
| Up to 1 year | 4,156 |
| From 1 year to 2 years | 3,049 |
| From 2 to 3 years | 982 |
| From 3 to 4 years | 1,279 |
| From 4 to 5 years | 626 |
| Over 5 years | 596 |
| Unrealized financial income | (903) |
| Discounted unguaranteed residual values | - |
| Net lease investments | 9,785 |
| Gross financial lease receivables | 31 December 2018 | ||
| Gross lease investment | Present value of minimum lease payments | Unrealized income | |
| Up to 1 year | 2,796 | 2,783 | 313 |
| 1 to 5 years | 5,634 | 5,636 | 402 |
| Over 5 years | 541 | 521 | 29 |
| Total | 8,971 | 8,940 | 744 |
47.2.1.2. Operating leases
Operating lease transactions pertain principally to investment property lease agreements. The table below presents future minimum lease payments under operating lease (undiscounted amounts).
| Future minimum receivables on lease payments | 31 December 2019 |
| Up to 1 year | 164 |
| From 1 year to 2 years | 149 |
| From 2 to 3 years | 137 |
| From 3 to 4 years | 104 |
| From 4 to 5 years | 85 |
| Over 5 years | 168 |
| Total future minimum receivables on lease payments | 807 |
| Future minimum receivables on lease payments | 31 December 2018 |
| Up to 1 year | 224 |
| 1 to 5 years | 561 |
| Over 5 years | 320 |
| Total future minimum receivables on lease payments | 1,105 |
47.2.2. PZU Group as the lessee
47.2.2.1. As of 1 January 2019 (in accordance with IFRS 16)
| Right-of-use assets carried as property, plant and equipment | 31 December 2019 |
| Means of transport | 30 |
| Other property, plant and equipment | 2 |
| Real property | 994 |
| Total right-of-use assets | 1,026 |
Movement in right-of-use assets used for own needs is presented together with the movement in property, plant and equipment in section 30.2.
| Lease-related costs | 31 December 2019 |
| Depreciation of right-of-use assets | 297 |
| Plant and machinery | 19 |
| Means of transport | 13 |
| Other property, plant and equipment | 1 |
| Real property | 264 |
| Interest on lease liabilities | 29 |
| Short-term lease-related costs | 114 |
| Low-value asset lease-related costs | - |
| Costs of variable lease payments not carried in valuation of lease liabilities | - |
47.2.2.2. Operating leases – until 31 December 2018 (in accordance with IAS 17)
Operating lease liabilities result primarily from the lease of commercial and office space. The PZU Group pursues a policy of concluding agreements for a definite term from 3 to 5 years with a renewal option. The table below presents future minimum lease payments under operating lease (undiscounted amounts).
| Minimum operating lease payment liabilities | 31 December 2018 |
| Up to 1 year | 291 |
| 1 to 5 years | 740 |
| Over 5 years | 149 |
| Total minimum operating lease payment liabilities | 1,180 |