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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.

PZU Group’s financial effectiveness

Annual Report 2018 > BUSINESS > OVERVIEW > PZU Group’s financial effectiveness
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Best Pratices in PZU


Gross written premium, Net insurance claims and benefits, Net profit (parent company)



Immediate economic value created and shared (data in m PLN) 2018
Revenue 38,047
Operating expenses net of payroll, the levy on financial institutions and community investments -24,280
Total employee benefits -5,109
Income tax -2,098
Levy on financial institutions -1,092
Voluntary contribution to invest funds in the community in a broad sense -100
Dividends paid to all shareholders -3,818
Retained economic value 1,550

The presented retained value is the remainder following the distribution of the generated economic value among the company’s stakeholders. This amount is not consistent with the net profit carried in the Profit and Loss Account because it also includes paid dividends (as distributed economic value).


The Group’s approach to recommendations concerning the dividend payout method ensuing from the Guidelines given to companies in which the State Treasury holds a stake
Comment made during a dialogue session


The PZU Group has in place the Capital and Dividend Policy in 2016 – 2020, which was adopted in a PZU Supervisory Board resolution in 2016. According to this Policy, the PZU Group endeavors to manage capital effectively and maximize the rate of return on equity for the parent company’s shareholders, in particular by maintaining the level of security and retaining capital resources for strategic growth objectives through acquisitions. Moreover, when it recommends a dividend payout to the Shareholder Meeting, the PZU Group gives consideration to the recommendations and guidelines set forth in other documents applicable to PZU.

As a regulated company PZU submits to the guidelines set forth in the Communique published by the Polish Financial Supervision Authority pertaining to the assumptions underlying the dividend policy of commercial banks, cooperative banks and affiliation banks, insurance and reinsurance undertakings, brokerage houses, mutual fund management companies and pension fund management companies. PZU is also subject to the Guidelines of the Office of the Prime Minister regarding companies in which the State Treasury has an equity stake that draw up financial statements published in 2018 for the first time.

According to the Guidelines given by the Office of the Prime Minister, when setting the dividend PZU takes into account, in particular, its capital needs, the necessity to cover its uncovered loss, investment projects in progress and the company’s indebtedness and it gives consideration to the recommendations and individual instructions given by the Polish Financial Commission.


“Its robust results form the basis for continuing to share dividend payouts with shareholders. Under the #newPZU strategy we have committed to investors that we will recommend payouts to shareholders of the earnings we do not need to finance our rapid growth. We have kept that promise by recommending a dividend payment of PLN 2.50 per share from 2017 earnings. At the same time, we remember our strategic obligation for the amount of the Dividend Per Share (DPS) to grow from year to year in the long run.”
Paweł Surówka – President of the PZU Management Board. More financial information is available in the Financial Report available on PZU’s website.
More financial information is available in the Financial Report available on PZU’s website.

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