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
27.2 Quantitative data
| Movement in intangible assets (by type groups) in the year ended 31 December 2018 | Software, licenses and similar assets | Trademarks | Client relations | Intangible assets under development | Other intangible assets | Total intangible assets |
| Gross value at the beginning of the period | 2,312 | 607 | 1,891 | 259 | 75 | 5,144 |
| Changes (by virtue of): | 251 | 4 | 9 | 106 | 5 | 375 |
| - purchases and in-house production | 90 | - | - | 341 | 2 | 433 |
| - transfers | 201 | - | - | (203) | 2 | - |
| - sale and liquidation | (69) | - | - | - | (2) | (71) |
| - foreign exchange differences and other | 29 | 4 | 9 | (32) | 3 | 13 |
| Gross value at the end of the period | 2,563 | 611 | 1,900 | 365 | 80 | 5,519 |
| Accumulated amortization at the beginning of the period | (1,017) | - | (609) | - | (53) | (1,679) |
| Changes (by virtue of): | (282) | - | (338) | - | (11) | (631) |
| - amortization for the period | (348) | - | (331) | - | (9) | (688) |
| - sale and liquidation | 66 | - | - | - | 1 | 67 |
| - foreign exchange differences and other | - | - | (7) | - | (3) | (10) |
| Accumulated amortization at the end of the period | (1,299) | - | (947) | - | (64) | (2,310) |
| Impairment losses at the beginning of the period | (13) | - | - | (8) | (1) | (22) |
| Changes charged to other operating expenses | (1) | - | - | (3) | - | (4) |
| Other changes | - | - | - | - | (3) | (3) |
| Impairment losses – at the end of the period | (14) | - | - | (11) | (4) | (29) |
| Net value of intangible assets at the end of the period | 1,250 | 611 | 953 | 354 | 12 | 3,180 |
| Movement in intangible assets (by type groups) in the year ended 31 December 2017 | Software, licenses and similar assets | Trademarks | Client relations | Intangible assets under development | Other intangible assets | Total intangible assets |
| Gross value at the beginning of the period | 1,509 | 274 | 623 | 177 | 68 | 2,651 |
| Changes (by virtue of): | 803 | 333 | 1,268 | 82 | 7 | 2,493 |
| - purchases and in-house production | 122 | - | - | 247 | 2 | 371 |
| - change in composition of the group | 472 | 340 | 1,285 | 64 | 10 | 2,171 |
| - transfers | 240 | - | - | (241) | 1 | - |
| - sale and liquidation | (22) | - | - | - | (4) | (26) |
| - foreign exchange differences and other | (9) | (7) | (17) | 12 | (2) | (23) |
| Gross value at the end of the period | 2,312 | 607 | 1,891 | 259 | 75 | 5,144 |
| Accumulated amortization at the beginning of the period | (772) | - | (345) | - | (49) | (1,166) |
| Changes (by virtue of): | (245) | - | (264) | - | (4) | (513) |
| - amortization for the period | (269) | - | (278) | - | (9) | (556) |
| - sale and liquidation | 22 | - | - | - | 4 | 26 |
| - foreign exchange differences and other | 2 | - | 14 | - | 1 | 17 |
| Accumulated amortization at the end of the period | (1,017) | - | (609) | - | (53) | (1,679) |
| Impairment losses at the beginning of the period | (16) | - | - | - | (6) | (22) |
| Changes charged to other operating expenses | - | - | - | (11) | 5 | (6) |
| Other changes | 3 | - | - | 3 | - | 6 |
| Impairment losses – at the end of the period | (13) | - | - | (8) | (1) | (22) |
| Net value of intangible assets at the end of the period | 1,282 | 607 | 1,282 | 251 | 21 | 3,443 |
Trademarks, which are intangible assets with an indefinite period of useful life, were subject to an impairment test together with the CGUs to which they belong. The tests have shown no need to recognize impairment losses. Additional information about the tests is presented in section 26.3.
| Amortization of intangible assets, by their presentation in consolidated profit and loss account | 1 January – 31 December 2018 | 1 January – 31 December 2017 |
| Claims, benefits and movement in technical provisions | 22 | 31 |
| Acquisition expenses | 39 | 34 |
| Administrative expenses | 293 | 210 |
| Other operating expenses 1) | 334 | 281 |
| Total amortization | 688 | 556 |
1) Including the amortization of intangible assets purchased in company acquisition transactions in the amount of PLN 331 million (PLN 278 million in 2017).
