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 financial position
| Assets | Note | 31 December 2018 | 31 December 2017 (restated) 1) | 1 January 2017 (restated) 1) |
| Goodwill | 26 | 3,871 | 3,830 | 1,583 |
| Intangible assets | 27 | 3,180 | 3,443 | 1,463 |
| Other assets | 28 | 562 | 692 | 866 |
| Deferred acquisition expenses | 29 | 1,546 | 1,485 | 1,407 |
| Reinsurers’ share in technical provisions | 41 | 1,512 | 1,250 | 990 |
| Property, plant and equipment | 30 | 3,184 | 3,287 | 1,467 |
| Investment property | 31 | 1,697 | 2,355 | 1,738 |
| Entities measured by the equity method | 32 | 17 | 20 | 37 |
| Loan receivables from clients | 33 | 182,054 | 169,457 | 44,998 |
| Financial derivatives | 34 | 2,487 | 2,351 | 953 |
| Investment financial assets | 35 | 101,665 | 110,046 | 59,335 |
| Measured at amortized cost | 45,234 | n/a | n/a | |
| Measured at fair value through other comprehensive income | 38,737 | n/a | n/a | |
| Measured at fair value through profit or loss | 17,694 | n/a | n/a | |
| Held to maturity | n/a | 21,237 | 17,346 | |
| Available for sale | n/a | 48,519 | 11,652 | |
| Measured at fair value through profit or loss | n/a | 20,243 | 21,001 | |
| Loans | n/a | 20,047 | 9,336 | |
| Deferred tax assets | 44 | 2,234 | 1,590 | 641 |
| Receivables | 37 | 6,343 | 9,096 | 5,664 |
| Cash and cash equivalents | 38 | 17,055 | 8,239 | 2,973 |
| Assets held for sale | 39 | 1,147 | 317 | 1,189 |
| Total assets | 328,554 | 317,458 | 125,304 |
| Equity and liabilities | Note | 31 December 2018 | 31 December 2017 (restated) 1) | 1 January 2017 (restated) 1) |
| Equity | ||||
| Equity attributable to equity holders of the Parent | 14,925 | 14,599 | 12,990 | |
| Share capital | 40.1 | 86 | 86 | 86 |
| Other capital | 40.3 | 12,566 | 11,917 | 10,869 |
| Retained earnings | 2,273 | 2,596 | 2,035 | |
| Retained earnings | (940) | (299) | 100 | |
| Net profit | 3,213 | 2,895 | 1,935 | |
| Non-controlling interest | 22,482 | 22,961 | 4,067 | |
| Total equity | 37,407 | 37,560 | 17,057 | |
| Liabilities | ||||
| Technical provisions | 41 | 45,839 | 44,558 | 42,194 |
| Provisions for employee benefits | 42 | 531 | 556 | 128 |
| Other provisions | 43 | 519 | 497 | 367 |
| Deferred tax liability | 44 | 486 | 638 | 469 |
| Financial liabilities | 45 | 236,316 | 224,550 | 60,045 |
| Other liabilities | 46 | 7,407 | 9,096 | 5,011 |
| Liabilities related directly to assets classified as held for sale | 39 | 49 | 3 | 33 |
| Total liabilities | 291,147 | 279,898 | 108,247 | |
| Total equity and liabilities | 328,554 | 317,458 | 125,304 |
1) Information on restatement of data as at 1 January and 31 December 2017 is presented in section 5.3.
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