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51.1 Key management

Annual Report 2018 > RESULTS 2018 > Supplementary Information and Notes > 51. Related party transactions > 51.1 Key management
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The PZU Management Board Members and PZU Group Directors are assumed to be the key management of the PZU Group.

In 2018 and in 2017, the PZU Group companies did not grant any loans or similar benefits to members of their key management

Compensation of the key management and members of the PZU SA Supervisory Board

Compensation of PZU’s key management (Management Board members, senior managers and Supervisory Board members who discharged their functions for at least one day in 2018 or 2017). The figures are presented in thousands of PLN.

Compensation and other short-term employee benefits paid by PZU  1 January – 31 December 2018 (000s PLN) 1 January – 31 December 2017 (000s PLN)
  including bonuses and special awards:   including bonuses and special awards:
Management Board, of which: 3,857 - 6,870 2,042
Paweł Surówka 793 - 683 74
Rodger Hodgkiss 766 - 1,171 412
Tomasz Kulik 766 - 319 -
Maciej Rapkiewicz 766 - 1,152 379
Małgorzata Sadurska 766 - 421 -
Michał Krupiński n/a n/a 2 0861) 895
Andrzej Jaworski n/a n/a 9452) 282
Marcin Chludziński n/a n/a 93 -
High-level managers (PZU Group Directors), including: 1,451 11 5,138 1,381
Aleksandra Agatowska 203 - 854 254
Tomasz Karusewicz 307 - 1,031 356
Bartłomiej Litwińczuk 307 - 754 122
Roman Pałac 317 - 986 378
Dorota Macieja 317 113) 501 -
Paweł Surówka n/a n/a 2614) 72
Sławomir Niemierka n/a n/a 751 199
Supervisory Board, of which: 1,420 - 1,344 -
Maciej Łopiński 169 - n/a n/a
Paweł Górecki 170 - 131 -
Alojzy Nowak 170 - 154 -
Marcin Chludziński 156 - 133 -
Agata Górnicka 156 - 133 -
Robert Jastrzębski 127 - n/a n/a
Katarzyna Lewandowska 157 - 115 -
Robert Śnitko 156 - 105 -
Maciej Zaborowski 156 - 146 -
Aneta Fałek 3 - 114 -
Bogusław Banaszak n/a - 142 -
Marcin Gargas n/a - 18 -
Paweł Kaczmarek n/a - 48 -
Eligiusz Krześniak n/a - 13 -
Jerzy Paluchniak n/a - 39 -
Piotr Paszko n/a - 13 -
Radosław Potrzeszcz n/a - 13 -
Łukasz Świerżewski n/a - 27 -

1) Including non-competition fee of PLN 600 thousand.
2) Including non-competition fee of PLN 276 thousand.
3) Bonus for the Sponsoring Director function discharged from 1 January to 14 March 2017.
4) Compensation for the period of discharging the PZU Group Director’s function until 12 April 2017.

As at 31 December 2018, the benefits for 2017 and for 2018 for PZU Management Board members under the variable compensation system have not been awarded. According to the compensation system in place, these persons may be entitled to a bonus for 2017 and 2018, which can be distributed in subsequent periods. Accordingly, a provision has been recognized for the payment of the bonus for 2017-2018 with the total amount of PLN 9,054 thousand as at 31 December 2018 (including the employer’s burdens; PLN 2,625 thousand as at 31 December 2017).

Compensation and other short-term employee benefits paid by other PZU Group entities  1 January – 31 December 2018 (000s PLN) 1 January – 31 December 2017 (000s PLN)
  including bonuses and special awards:   including bonuses and special awards:
Management Board, of which: 90 - 2,835 801
Paweł Surówka 901) - 499 214
Rodger Hodgkiss - - 491 214
Tomasz Kulik - - 840 103
Maciej Rapkiewicz - - 446 135
Michał Krupiński n/a - 672) -
Andrzej Jaworski n/a   4923) 135
High-level managers (PZU Group Directors), including: 2,206 6 3,030 706
Aleksandra Agatowska 344 - 509 137
Tomasz Karusewicz 460 - 604 192
Bartłomiej Litwińczuk 460 - 455 66
Roman Pałac 476 - 604 204
Dorota Macieja 466 64) 319 -
Sławomir Niemierka n/a n/a 539 107

1) Remuneration for the function of Pekao Supervisory Board Member discharged from 1 January to 20 June 2018.
2) Remuneration for the function of Alior Bank’s Supervisory Board Member discharged from 1 January to 14 June 2017.
3) Including non-competition fee of PLN 149 thousand (PZU Życie).
4) Bonus for the Sponsoring Director function discharged from 1 January to 14 March 2017.

Total estimated value of non-cash benefits granted by PZU and PZU’s subsidiaries 1 January – 31 December 2018 (000s PLN) 1 January – 31 December 2017 (000s PLN)
Management Board, of which: 515 701
Paweł Surówka 149 62
Rodger Hodgkiss 115 144
Tomasz Kulik 77 76
Maciej Rapkiewicz 64 107
Małgorzata Sadurska 110 15
Michał Krupiński n/a 162
Andrzej Jaworski n/a 135
High-level managers (PZU Group Directors), including: 525 924
Aleksandra Agatowska 111 201
Tomasz Karusewicz 89 138
Bartłomiej Litwińczuk 118 151
Roman Pałac 129 168
Dorota Macieja 78 119
Sławomir Niemierka n/a 147

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