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2.2 PZU Group companies and associates

Annual Report 2018 > RESULTS 2018 > Supplementary Information and Notes > 2. Composition of PZU Group > 2.2 PZU Group companies and associates
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  No.   Name of the entity   Registered office Date of obtaining control / significant influence % of the share capital and % of votes held directly or indirectly by PZU   Line of business and website
          31 December 2018   31 December 2017  
Consolidated companies 
1 Powszechny Zakład Ubezpieczeń SA Warsaw n/a n/a n/a Non-life insurance. https://www.pzu.pl/grupa-pzu/spolki/pzu-sa
2 Powszechny Zakład Ubezpieczeń na Życie SA Warsaw 18.12.1991 100.00% 100.00% Life insurance. https://www.pzu.pl/pl/grupa-pzu/spolki/pzu-zycie
3 Link4 Towarzystwo Ubezpieczeń SA Warsaw 15.09.2014 100.00% 100.00% Non-life insurance. https://www.link4.pl/
4 Towarzystwo Ubezpieczeń Wzajemnych Polski Zakład Ubezpieczeń Wzajemnych Warsaw 20.11.2015 100.00% 100.00% Non-life insurance. https://www.tuwpzuw.pl/
5 Lietuvos Draudimas AB Vilnius (Lithuania) 31.10.2014 100.00% 100.00% Non-life insurance. http://www.ld.lt/
6 Apdrošināšanas Akciju Sabiedrība Balta Riga, Latvia 30.06.2014 99.99% 99.99% Property insurance. http://www.balta.lv/
7 PrJSC IC PZU Ukraine Kiev (Ukraine) 01.07.2005 100.00% 100.00% Property insurance. http://www.pzu.com.ua/
8 PrJSC IC PZU Ukraine Life Insurance Kiev (Ukraine) 01.07.2005 100.00% 100.00% Life insurance. http://www.pzu.com.ua/
9 UAB PZU Lietuva Gyvybes Draudimas Vilnius (Lithuania) 26.04.2002 99.34% 99.34% Life insurance. https://pzugd.lt/
Consolidated companies – Pekao Group
10 Bank Pekao SA Warsaw 07.06.2017 20.03% 20.02% Banking services. https://www.pekao.com.pl/
11 Pekao Bank Hipoteczny SA Warsaw 07.06.2017 20.03% 20.02% Banking services. http://www.pekaobh.pl/
12 Centralny Dom Maklerski Pekao SA Warsaw 07.06.2017 20.03% 20.02% Brokerage services. https://www.cdmpekao.com.pl/
13 Pekao Leasing sp. z o.o. Warsaw 07.06.2017 20.03% 20.02% Leasing services. http://www.pekaoleasing.com.pl/
14 Pekao Investment Banking SA Warsaw 07.06.2017 20.03% 20.02% Brokerage services. http://pekaoib.pl/
15 Pekao Faktoring sp. z o.o. Lublin 07.06.2017 20.03% 20.02% Factoring services. https://www.pekaofaktoring.pl/
16 Pekao Powszechne Towarzystwo Emerytalne SA in liquidation1) Warsaw 07.06.2017 20.03% 20.02% Management of pension funds.
17 Pekao TFI SA Warsaw 11.12.2017 20.03% 20.02% Creation, representing and management of mutual funds. https://www.pekaotfi.pl/tfi/welcome
18 Centrum Kart SA Warsaw 07.06.2017 20.03% 20.02% Auxiliary financial services. http://www.centrumkart.pl/
Consolidated companies – Pekao Group – continued 
19 Pekao Financial Services sp. z o.o. Warsaw 07.06.2017 46.82% 2) 20.02% Transfer agent. http://www.pekao-fs.com.pl/pl/
20 Centrum Bankowości Bezpośredniej sp. z o.o. Krakow 07.06.2017 20.03% 20.02% Call-center services. http://www.cbb.pl/
21 Pekao Property SA Warsaw 07.06.2017 20.03% 20.02% Development activity.
22 FPB – Media sp. z o.o. Warsaw 07.06.2017 20.03% 20.02% Development activity.
23 Pekao Fundusz Kapitałowy sp. z o.o. in liquidation Warsaw 07.06.2017 20.03% 20.02% Business consulting.
24 Pekao Investment Management SA Warsaw 11.12.2017 20.03% 20.02% Asset management. https://www.pekaotfi.pl/tfi/welcome
25 Dom Inwestycyjny Xelion sp. z o.o. Warsaw 11.12.2017 20.03% 20.02% Financial intermediation. https://www.xelion.pl/
Consolidated companies – Alior Bank Group
26 Alior Bank SA Warsaw 18.12.2015 31.93% 32.23% Banking services. https://www.aliorbank.pl/
27 Alior Services sp. z o.o. Warsaw 18.12.2015 31.93% 32.23% Other activity supporting financial services, excluding insurance and pension funds.
28 Centrum Obrotu Wierzytelnościami sp. z o.o. in liquidation Krakow 18.12.2015 31.93% 32.23% Trading in receivables.
  29   Alior Leasing sp. z o.o.   Wroclaw   18.12.2015   31.93%   32.23% Leasing services. https://www.aliorbank.pl/wlasna-dzialalnosc/alior- https://www.aliorbank.pl/wlasna-dzialalnosc/alior-leasing.html
30 Meritum Services ICB SA Gdańsk 18.12.2015 31.93% 32.23% IT services.
31 Alior TFI SA (formerly Money Makers TFI SA) 3) Warsaw 18.12.2015 31.93% 19.39% Asset management services and management of Alior SFIO subfunds. https://www.aliortfi.com/
32 New Commerce Services sp. z o.o. Warsaw 18.12.2015 31.93% 32.23% The company does not conduct any activity
33 Absource sp. z o.o. Krakow 04.05.2016 31.93% 32.23% Service activity in the area of IT.
34 Serwis Ubezpieczeniowy sp. z o.o. Katowice 30.01.2017 31.93% 32.23% Brokerage activity.
Consolidated companies – PZU Zdrowie Group
35 PZU Zdrowie SA Warsaw 02.09.2011 100.00% 100.00% Medical services. https://www.pzu.pl/pl/grupa-pzu/spolki/pzu-zdrowie
36 Centrum Medyczne Medica sp. z o.o. Płock 09.05.2014 100.00% 100.00% Medical services. http://cmmedica.pl/
37 Specjalistyczna Przychodnia Przemysłowa Prof-Med sp. z o.o. Włocławek 12.05.2014 100.00% 100.00% Medical services. http://cmprofmed.pl/
38 Sanatorium Uzdrowiskowe “Krystynka” sp. z o.o. Ciechocinek 09.05.2014 99.09% 99.09% Hospital, physical therapy and spa services. http://www.sanatoriumkrystynka.pl/
39 Przedsiębiorstwo Świadczeń Zdrowotnych i Promocji Zdrowia ELVITA – Jaworzno III sp. z o.o. 4) Jaworzno 01.12.2014 100.00% 100.00% Medical services. http://www.elvita.pl/
40 Przedsiębiorstwo Usług Medycznych PROELMED sp. z o.o. Łaziska Górne 01.12.2014 57.00% 57.00% Medical services. http://www.proelmed.pl/
41 Centrum Medyczne Gamma sp. z o.o. Warsaw 08.09.2015 60.46% 60.46% Medical services. http://www.cmgamma.pl/
42 Polmedic sp. z o.o. Radom 30.11.2016 100.00% 100.00% Medical services. http://www.polmedic.com.pl/
43 Artimed Niepubliczny Zakład Opieki Zdrowotnej sp. z o.o. Kielce 21.12.2016 100.00% 100.00% Medical services. http://artimed.pl/
44 Revimed sp. z o.o. Gdańsk 31.05.2017 100.00% 100.00% Medical services. http://www.revimed.pl/
45 Centrum Medyczne św. Łukasza sp. z o.o. Częstochowa 09.01.2018 100.00% n/a Medical services. http://www.cmlukasza.pl/
46 Specjalistyczny Zakład Opieki Zdrowotnej Multimed sp. z o.o. Oświęcim 31.12.2018 100.00% n/a Medical services. http://www.multimed.oswiecim.pl/
Consolidated companies – other companies
47 Powszechne Towarzystwo Emerytalne PZU SA Warsaw 08.12.1998 100.00% 100.00% Management of pension funds. https://www.pzu.pl/pl/grupa-pzu/spolki/pte-pzu
48 PZU Centrum Operacji SA Warsaw 30.11.2001 100.00% 100.00% Auxiliary activity associated with insurance and pension funds.
49 Towarzystwo Funduszy Inwestycyjnych PZU SA Warsaw 30.04.1999 100.00% 100.00% Creation, representing and management of mutual funds. https://www.pzu.pl/pl/grupa-pzu/spolki/tfi-pzu
50 PZU Pomoc SA Warsaw 18.03.2009 100.00% 100.00% Provision of assistance services. https://www.pzu.pl/grupa-pzu/spolki/pzu-pomoc
51 PZU Finance AB (publ.) Stockholm (Sweden) 02.06.2014 100.00% 100.00% Financial services. https://www.pzu.pl/pl/grupa-pzu/spolki/pzu-finance
Consolidated companies – other companies – continued
52 PZU Finanse Sp. z o.o. Warsaw 08.11.2013 100.00% 100.00% Financial and accounting services.
53 Tower Inwestycje Sp. z o.o. Warsaw 27.08.1998 100.00% 100.00% Development activity, operation and lease of properties. https://www.pzu.pl/pl/grupa-pzu/spolki/tower-inwestycje
54 Ogrodowa-Inwestycje sp. z o.o. Warsaw 15.09.2004 100.00% 100.00% Buying, operating, renting and selling real estate. http://www.ogrodowainwestycje.pl/
55 Arm Property sp. z o.o. Krakow 26.11.2014 100.00% 100.00% Purchase and sale of real estate.
56 Ipsilon sp. z o.o. Warsaw 02.04.2009 100.00% 100.00% Provision of assistance services and medical services.
57 PZU Corporate Member Limited London (United Kingdom) 28.09.2017 100.00% 100.00% Investment activity.
58 Ardea Alba SA in liquidation Warsaw 12.07.2001 100.00% 100.00% No business conducted.
  59   PZU LAB SA   Warsaw   13.09.2011   100.00%   100.00% Consulting and training services, development of technology innovation to support technical and procedural security processes and risk management. https://www.pzu.pl/pl/grupa-pzu/spolki/pzu-lab
60 Omicron BIS SA Warsaw 28.08.2014 100.00% 100.00% No business conducted.
61 Sigma BIS SA Warsaw 12.12.2014 100.00% 100.00% No business conducted.
62 LLC SOS Services Ukraine Kiev (Ukraine) 01.07.2005 100.00% 100.00% Assistance services.
63 Battersby Investments SA Warsaw 15.09.2017 100.00% 100.00% No business conducted.
64 Tulare Investments sp. z o.o. Warsaw 15.09.2017 100.00% 100.00% No business conducted.
Consolidated companies – Armatura Group
  65   Armatura Kraków SA   Krakow   07.10.1999   100.00%   100.00% Production and sale of radiators and sanitary fittings and administration and management of the group. http://www.grupa-armatura.pl/
66 Aquaform SA Środa Wlkp. 15.01.2015 100.00% 100.00% Production and sale of bathroom accessories and fittings. http://www.aquaform.com.pl/
67 Aquaform Badprodukte GmbH Anhausen (Germany) 15.01.2015 100.00% 100.00% Wholesale trade.
68 Aquaform Ukraine ТОW Zhytomyr (Ukraine) 15.01.2015 100.00% 100.00% Wholesale trade. http://aquaform.org.ua/
69 Aquaform Romania SRL Prejmer (Romania) 15.01.2015 100.00% 100.00% Wholesale trade.
Consolidated companies – Armatura Group – continued
70 Morehome.pl sp. z o.o. in liquidation 5) Środa Wlkp. 15.01.2015 100.00% 100.00% No business conducted.
Consolidated companies – mutual funds
71 PZU SFIO Universum Warsaw 15.12.2009 n/a n/a Investment of funds collected from fund members.
72 PZU FIZ Dynamiczny Warsaw 27.01.2010 n/a n/a as above
73 PZU FIZ Sektora Nieruchomości 6) Warsaw 01.07.2008 n/a n/a as above
74 PZU FIZ Sektora Nieruchomości 2 6) Warsaw 21.11.2011 n/a n/a as above
75 PZU FIZ Aktywów Niepublicznych BIS 1 Warsaw 12.12.2012 n/a n/a as above
76 PZU FIZ Aktywów Niepublicznych BIS 2 Warsaw 19.11.2012 n/a n/a as above
77 PZU FIZ Surowcowy Warsaw 03.09.2015 n/a n/a as above
78 PZU FIO Globalny Obligacji Korporacyjnych Warsaw 30.05.2016 n/a n/a as above
79 PZU FIZ Forte Warsaw 01.07.2016 n/a n/a as above
80 PZU Innowacyjnych Technologii (formerly: PZU Telekomunikacja Media Technologia) Warsaw 07.09.2016 n/a n/a as above
81 PZU Dłużny Aktywny Warsaw 26.10.2016 n/a n/a as above
82 PZU FIZ Akcji Combo Warsaw 09.03.2017 n/a n/a as above
83 PZU Akcji Spółek Dywidendowych Warsaw 31.12.2017 n/a n/a as above
84 PZU FIZ Akcji Focus Warsaw 01.04.2018 n/a n/a as above
85 inPZU Inwestycji Ostrożnych Warsaw 10.04.2018 n/a n/a as above
86 inPZU Obligacje Polskie Warsaw 10.04.2018 n/a n/a as above
87 inPZU Akcje Polskie Warsaw 10.05.2018 n/a n/a as above
88 inPZU Akcji Rynków Rozwiniętych Warsaw 10.05.2018 n/a n/a as above
89 inPZU Obligacji Rynków Rozwiniętych Warsaw 10.05.2018 n/a n/a as above
90 inPZU Obligacji Rynków Wschodzących Warsaw 10.05.2018 n/a n/a as above
Associates
91 GSU Pomoc Górniczy Klub Ubezpieczonych SA Tychy 08.06.1999 30.00% 30.00% Insurance administration. http://gsupomoc.pl/
  92   EMC Instytut Medyczny SA   Wroclaw   18.06.2013   28.31% 7)   28.31% 7) Human health activities, research and development in the area of medical sciences and pharmaceutical practice. http://www.emc-sa.pl/
93 CPF Management Tortola, British Virgin Islands 07.06.2017 8.01% 8) 8.01% 8) Consulting and business activity – no business conducted.
94 PayPo sp. z o.o. Warsaw 15.11.2018 6.39% 9) n/a Financial services.

1) On 1 June 2018, the shareholder meeting adopted a resolution to dissolve the company and open its liquidation process.
2) As a result of the transaction described in item 2.4.4, starting from 4 June 2018 PZU became the direct holder of 33.5% of PFS shares and Pekao’s share fell to 66.5%.
3) Direct subsidiary of Alior Bank, in which Alior Bank holds a 100% stake (as at 31 December 2017: 60.16%). As a consequence, the PZU Management Board considers the PZU Group to be in control of the company.
4) On 6 September 2018, Elvity merged with NZOZ Trzebinia. The transaction had no effect on the consolidated financial statements.
5) On 7 January 2019, an application was filed with KRS on the liquidation of the company.
6) As at 31 December 2018, the funds PZU FIZ Sektora Nieruchomości and PZU FIZ Sektora Nieruchomości 2 conducted their investment activity through (consolidated) subsidiary companies established under commercial law as special-purpose vehicles whose number in the respective funds was: 18 and 18 (as at 31 December 2017: 15 and 20, respectively).
7) The percentage of votes held by PZU is different from the stake held in the share capital, and both as at 31 December 2018 and as at 31 December 2017 it was 25.44%. The difference between the percentage of votes and the stake in the share capital results from the fact that holders of non-controlling interests hold certain shares preferred as to the voting rights.
8) Pekao’s associate, in which it holds a 40.00% stake. Consequently, the PZU Management Board recognizes that the PZU Group has significant influence over this company.
9) Alior Bank’s associate, in which it holds a 20.00% stake. Consequently, the PZU Management Board recognizes that the PZU Group has significant influence over this company.

  

As at 31 December 2018, in addition to the companies listed in the table, the PZU Group held a 100% stake in Syta Development sp. z o.o. in liquidation, control over which is exercised by a liquidator independent of the PZU Group and for this reason the company was not consolidated. The value of these shares in the PZU Group’s consolidated statement of financial position was zero.

 

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