Between 5 April and 4 May 2018, a supervisory visit of KNF in PZU and PZU Życie was held, focusing on the system to manage operational risk related to the distribution of insurance products, in particular on the fraud prevention measures.
In the period from 19 June 2018 to 17 August 2018, a KNF inspection was conducted in PZU pertaining to claims handling and entering into short-term insurance contracts. On 31 December 2018, the supervisory authority issued two key post-audit recommendations for the claims and benefits handling area and one recommendation regarding the execution of short-term insurance agreements with the deadline of 31 January 2019. The recommendations were fulfilled within the deadline.
The Management Board of PZU believes that the results of the audit have not exerted any impact on the consolidated financial statements.