Navigation Map Download our best practices
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.
- 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.
In the CHAPTER
GRI
- 102-7 Scale of the reporting organization
- 103-2 Approach to management and its elements
- 103-3 Evaluation of the approach to management
- 201-1 Direct economic value generated and distributed
- 102-13 Membership in associations and organizations
- 102-40 List of stakeholder groups engaged by the reporting organization
- 102-42 Basis for identification and selection of stakeholders engaged by the organization
- 102-43 Approach do engaging stakeholders, including the frequency of engagement by stakeholder type and group
- 102-44 Key issues and concerns raised by stakeholders and the organization’s response, also by reporting them
In the CHAPTER
GRI
- 102-8 Data pertaining to employees and other persons working for the organization
- 103-2 Approach to management and its elements
- 103-3 Evaluation of the approach to management
- 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
In the CHAPTER
GRI
- 103-3 Evaluation of the approach to management
- 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
- 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
In the CHAPTER
GRI
- 102-9 Description of the supply chain
- 102-11 Explanation of whether and how the precautionary principle is addressed by the organization
- 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
- 103-2 Approach to management and its elements
- 103-3 Evaluation of the approach to management
- 102-5 Organization’s form of ownership and legal form
- 102-18 Organization’s supervisory structure along with the commissions that report to the highest supervisory body
- 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
- 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
GRI
- 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
Read more:
- Client at the center of attention
- Innovations
- Responsible sales
- Insurance
- Banking and strategic partnerships
- Working conditions
- Employee development
- Knowledge sharing
- Enhancing safety
- Health
- Improvement of living conditions in local communities
- Our impact on the natural environment
- Practical challenges in managing direct impact
- Products and adaptation to climate change
Business model
Employee
CSR
Environment
- Ethical foundations of business operations
- Preventing corruption and conflict of interests
- Diversity and respecting human rights
- Whistleblowing system
- Transaction security
- Risk management, taking into account non-financial risk
- Risk appetite
- PZU Group’s risk profile
- Reinsurance operations
- Polish and Baltic States insurance sector compared to Europe
- Regulations pertaining to the insurance market and the financial markets in Poland
- Non-life insurance (PZU, LINK4 and TUW PZUW)
- Life insurance (PZU Życie)
- International operations
- Contribution made by the market segments to the consolidated result
Risk and ethics
Market
Business
Financial results
Read more:
- Client at the center of attention
- Employee development
- Health
- Cultural patronage
- Practical challenges in managing direct impact
- Ethical foundations of business operations
- Diversity and respecting human rights
- Whistleblowing system
- Transaction security
- Risk appetite
- PZU Group’s risk profile
- Risk vulnerability
- Capital management
Business model
Employee
CSR
Environment
Risk and ethics
Read more:
- New approach to sales
- Working conditions
- Employee development
- Diversity and respecting human rights
Business model
Employee
Risk and ethics
Read more:
- Client at the center of attention
- Medical services (Health)
- Working conditions
- Enhancing safety
- Health
Business model
Employee
CSR
- Our impact on the natural environment
- Practical challenges in managing direct impact
- Diversity and respecting human rights
- Medical services (Health)
Environment
Risk and ethics
Business
Consolidated statement of changes in equity
| Consolidated statement of changes in equity | Note | Equity attributable to equity holders of the parent | Non- controlling interest | Total equity | |||||||||
| Share capital | Other capital | Retained earnings | Total | ||||||||||
| Treasury shares | Supplement ary capital | Revaluation reserve | Other reserve capital | Actuarial gains and losses related to provisions for employee benefits | Foreign exchange translation differences | Retained earnings | Net profit | ||||||
| Note | 40.1 | 40.3 | 40.3 | 40.3 | 40.3 | 2.3 | |||||||
| As at 1 January 2018 | 86 | - | 11,824 | 157 | 5 | 4 | (73) | 2,596 | - | 14,599 | 22,961 | 37,560 | |
| Effect of the application of IFRS 9 and other changes | - | - | - | 7 | - | - | - | (519) | - | (512) | (1,146) | (1,658) | |
| As at 1 January 2018 after the change of accounting policies | 86 | - | 11,824 | 164 | 5 | 4 | (73) | 2,077 | - | 14,087 | 21,815 | 35,902 | |
| Valuation of equity instruments measured at fair value through other comprehensive income | - | - | - | (255) | - | - | - | - | - | (255) | 8 | (247) | |
| Valuation of debt instruments measured at fair value through other comprehensive income | - | - | - | 9 | - | - | - | - | - | 9 | 6 | 15 | |
| Cash flow hedging | - | - | - | 24 | - | - | - | - | - | 24 | 75 | 99 | |
| Foreign exchange translation differences | - | - | - | - | - | - | 37 | - | - | 37 | (1) | 36 | |
| Actuarial gains and losses related to provisions for employee benefits | - | - | - | - | - | (4) | - | - | - | (4) | - | (4) | |
| Reclassification of real property from property, plant and equipment to investment property | - | - | - | 3 | - | - | - | - | - | 3 | - | 3 | |
| Total net other comprehensive income | - | - | - | (219) | - | (4) | 37 | - | - | (186) | 88 | (98) | |
| Net profit (loss) | - | - | - | - | - | - | - | - | 3,213 | 3,213 | 2,155 | 5,368 | |
| Total comprehensive income | - | - | - | (219) | - | (4) | 37 | - | 3,213 | 3,027 | 2,243 | 5,270 | |
| Other changes, including: | - | (11) | 836 | (10) | 13 | - | - | (3,017) | - | (2,189) | (1,576) | (3,765) | |
| Distribution of financial result | 40.2.1.1 | - | - | 848 | - | 14 | - | - | (3,021) | - | (2,159) | (1,659) | (3,818) |
| Transactions on treasury shares | - | (11) | - | - | - | - | - | - | - | (11) | - | (11) | |
| Transactions with non-controlling shareholders | - | - | (19) | - | - | - | - | - | - | (19) | 83 | 64 | |
| Sale of revalued real estate and other | - | - | 7 | (10) | (1) | - | - | 4 | - | - | - | - | |
| As at 31 December 2018 | 86 | (11) | 12,660 | (65) | 18 | - | (36) | (940) | 3,213 | 14,925 | 22,482 | 37,407 | |
| Consolidated statement of changes in equity (restated) 1) | Equity attributable to equity holders of the parent | Non- controlling interest | Total equity | |||||||||
| Share capital | Other capital | Retained earnings | Total | |||||||||
| Treasury shares | Suppleme ntary capital | Revaluation reserve | Other reserve capital | Actuarial gains and losses related to provisions for employee benefits | Foreign exchange translation differences | Retained earnings | Net profit | |||||
| Note | 40.1 | 40.3 | 40.3 | 40.3 | 40.3 | 2.3 | ||||||
| As at 1 January 2017 | 86 | (1) | 10,758 | 106 | 5 | 3 | (2) | 2,043 | - | 12,998 | 4,086 | 17,084 |
| Adjustment of the opening balance | - | - | - | - | - | - | - | (8) | - | (8) | (19) | (27) |
| As at 1 January 2017 after adjustment | 86 | (1) | 10,758 | 106 | 5 | 3 | (2) | 2,035 | - | 12,990 | 4,067 | 17,057 |
| Measurement of financial instruments available for sale | - | - | - | 53 | - | - | - | - | - | 53 | 64 | 117 |
| Cash flow hedging | - | - | - | 2 | - | - | - | - | - | 2 | 9 | 11 |
| Foreign exchange translation differences | - | - | - | - | - | - | (71) | - | - | (71) | - | (71) |
| Actuarial gains and losses related to provisions for employee benefits | - | - | - | - | - | 1 | - | - | - | 1 | 6 | 7 |
| Reclassification of real property from property, plant and equipment to investment property | - | - | - | 2 | - | - | - | - | - | 2 | - | 2 |
| Total net other comprehensive income | - | - | - | 57 | - | 1 | (71) | - | - | (13) | 79 | 66 |
| Net profit (loss) | - | - | - | - | - | - | - | - | 2,895 | 2,895 | 1,290 | 4,185 |
| Total comprehensive income | - | - | - | 57 | - | 1 | (71) | - | 2,895 | 2,882 | 1,369 | 4,251 |
| Other changes, including: | - | 1 | 1,066 | (6) | - | - | - | (2,334) | - | (1,273) | 17,525 | 16,252 |
| Distribution of financial result | - | - | 1,125 | - | - | - | - | (2,334) | - | (1,209) | - | (1,209) |
| Acquisition of shares in Pekao | - | - | - | - | - | - | - | - | - | - | 17,711 | 17,711 |
| Transactions on treasury shares | - | 1 | - | - | - | - | - | - | - | 1 | - | 1 |
| Changes in the composition of the PZU Group and transactions with holders of non-controlling interests | - | - | (65) | - | - | - | - | - | - | (65) | (186) | (251) |
| Sale of revalued real estate | - | - | 6 | (6) | - | - | - | - | - | - | - | - |
| As at 31 December 2017 | 86 | - | 11,824 | 157 | 5 | 4 | (73) | (299) | 2,895 | 14,599 | 22,961 | 37,560 |
1) Information on restatement of the 2017 data is presented in section 5.3.
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