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PZU Group’s claims paid and technical provisions

Annual Report 2018 > PZU Group’s claims paid and technical provisions
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Net claims and benefits (including the movement in technical provisions) were PLN 14,563 million, or 2.5% less than in the corresponding period of the previous year. The following factors contributed to the decline in the category of net claims and benefits:

  • in life insurance, a lower investment result on most unit-linked product portfolios, compared with high, positive results achieved last year and lower client contributions to accounts in individual unit-linked products in the bancassurance channel;
  • in insurance against fire and other damage to property, a lower level of weather-related claims (gusty wind, torrential rain).

In turn, the growth in this category of net claims and benefits was precipitated by the remeasurement of the provision for claims for general damages for the pain caused by the vegetative state of a relative injured in an accident in the motor insurance business in the mass and corporate client segment.

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