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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.
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POLICIES
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ENVIRONMENT
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VALUE
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Financial capital
Intellectual capital
Natural capital
Social capital
PZU Group
Health
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Investments
Insurance
BUSINESS
PRACTICES
Corporate Governance
Capitals (IIRC)
Business

Corporate Governance

Strategy Outlook
Policies
Performance Risks Stakeholders Environment Input Value
Client experience management
Straight-forward products
Advertising ethics
Employer of first choice
Working conditions and employee compensation
Fringe benefits
Inclusive organizational culture
Occupational safety and health during the COVID-19 pandemic
Dialog with trade unions
Employee training and development
Rules of cooperation with business partners
Investment strategy
Tax strategy
Information security
Counteracting corruption
Management of a conflict of interest
Fraud prevention and counteracting of money laundering and terrorism financing
Whistleblowing system
Respect for human rights and diversity
Application of corporate governance rules
PZU's investor relations
The product offer as a response to climate challenges
The PZU Group’s efforts to adapt to climate change and prevent environmental risks: gaining a better grasp of risk factors
Direct environmental impact
COVID-19
PZU Group’s ESG Strategy regarding the environment and the climate

List of GRIs

102-8 Information on employees and other workers
102-9 Description of the supply chain
102-11 Precautionary Principle or approach
102-12 External initiatives, externally developed economic, environmental and social charters, principles, or other initiatives to which the organization subscribes or which it endorses
102-15 Description of key impacts, opportunities and risks
102-16 Organization’s values, code of ethics, principles and norms of behavior
102-17 Mechanisms for advice and concerns about ethics; 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
102-18 Governance structure of the organization including committees of the highest governance body
102-20 Executive-level responsibility for environmental, social and corporate governance topics
102-25 Conflicts of interest
102-41 Employees subject to collective bargaining agreements
103-1 Explanation of the material topic and its Boundary
103-2 Approach to management and its components
103-3 Evaluation of the management approach
205-1 Operations assessed for risks related to corruption
205-2 Communication and training on anticorruption policies and procedures in the organization
205-3 Confirmed cases of corruption and actions taken
206-1 Legal steps taken against the organization for anti-competitive behavior, anti-trust, and monopoly practices
207-1 Approach to tax
207-2 Tax governance, control, and risk management
207-3 Stakeholder engagement and management of concerns related to tax
207-4 Country-by-country reporting
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
303-5 Total water consumption by source
305-1 Total direct (Scope 1) gas emissions
305-2 Total energy indirect (Scope 2) greenhouse gas emissions
305-3 Other indirect (Scope 3) greenhouse gas emissions
305-4 GHG emissions intensity
305-5 Reduction GHG emissions
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
308-1 New suppliers that were screened using environmental criteria
401-1 New employee hires and employee turnover
403-2 Rate for injury, occupational diseases, lost days, and absenteeism, and number of work-related fatalities
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 transition assistance programs
404-3 Percentage of employees receiving regular performance and career development reviews, by gender and employment category
405-2 Ratio of basic salary and remuneration of women to men
406-1 Incidents of discrimination and corrective actions taken
414-1 New suppliers that were screened using social criteria
417-1 Internal requirements for product and service information and labeling
417-2 Incidents of non-compliance with regulations and voluntary codes for product and service information labeling
417-3 Incidents of non-compliance with regulations and voluntary codes concerning marketing communications
418-1 Substantiated complaints regarding breaches of client privacy and data loss
419-1 Non-compliance with laws and regulations in the social and economic area
G4-FS15 Policies for the fair design and sale of financial products and services
G4-FS16 Initiatives to enhance financial literacy by type of beneficiary
Respect for human rights and diversity
Employer of first choice
Employee training and development
Aggregated employment data

List of GRIs

102-8 Information on employees and other workers
102-41 Employees subject to collective bargaining agreements
103-2 Approach to management and its components
103-3 Evaluation of the management approach
401-1 New employee hires and employee turnover
403-2 Rate for injury, occupational diseases, lost days, and absenteeism, and number of work-related fatalities
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 transition assistance programs
404-3 Percentage of employees receiving regular performance and career development reviews, by gender and employment category
405-1 Composition of supervisory bodies and employees broken down into employee groups by gender, age and other diversity factors
405-2 Ratio of basic salary and remuneration of women to men
406-1 Incidents of discrimination and corrective actions taken
G4-FS14 Initiatives undertaken to improve access to financial services for disfavored persons
G4-FS16 Initiatives to enhance financial literacy by type of beneficiary
PZU Group's Capital and Dividend Policy
Debt financing of PZU, Bank Pekao and Alior Bank
Financial efficiency

List of GRIs

102-7 Scale of the organization
201-1 Direct economic value generated and distributed (taking into account revenues, operating expenses, employee salaries, subsidies and other investments for communities, retained profits and disbursements for capital owners and state institutions)
Climate change research
The product offer as a response to climate challenges
Disclosure under Regulation (EU) 2020/852 of the European Parliament and of the Council ("Taxonomy")
Direct environmental impact

List of GRIs

103-2 Approach to management and its components
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
303-5 Total water consumption by source
305-1 Total direct (Scope 1) gas emissions
305-2 Total energy indirect (Scope 2) greenhouse gas emissions
305-3 Other indirect (Scope 3) greenhouse gas emissions
305-4 GHG emissions intensity
305-5 Reduction GHG emissions
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
Client at the center of attention
Client experience management
Responsible sales

List of GRIs

103-2 Approach to management and its components
103-3 Evaluation of the management approach
206-1 Legal steps taken against the organization for anti-competitive behavior, anti-trust, and monopoly practices
417-1 Internal requirements for product and service information and labeling
417-2 Incidents of non-compliance with regulations and voluntary codes for product and service information labeling
417-3 Incidents of non-compliance with regulations and voluntary codes concerning marketing communications
419-1 Non-compliance with laws and regulations in the social and economic area
G4-FS15 Policies for the fair design and sale of financial products and services
PZU Group's social commitment
Cultural patronage
Charity
Rules of cooperation with business partners

List of GRIs

102-9 Description of the supply chain
103-2 Approach to management and its components
103-3 Evaluation of the management approach
308-1 New suppliers that were screened using environmental criteria
414-1 New suppliers that were screened using social criteria
Dialogue with the environment
Client experience management
Responsible sales
Employer of first choice
Employee training and development
PZU Group's social commitment
Rules of cooperation with business partners
Direct environmental impact
Strategy 2021-2024 [IIRC]
Key non-financial risks

List of GRIs

102-8 Information on employees and other workers
102-9 Description of the supply chain
102-11 Precautionary Principle or approach
102-12 External initiatives, externally developed economic, environmental and social charters, principles, or other initiatives to which the organization subscribes or which it endorses
102-13 Membership in associations and organizations
102-15 Description of key impacts, opportunities and risks
102-17 Mechanisms for advice and concerns about ethics; 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
102-20 Executive-level responsibility for environmental, social and corporate governance topics
102-25 Conflicts of interest
102-40 List of stakeholder groups engaged by the reporting organization
102-41 Employees subject to collective bargaining agreements
102-42 Basis for identification and selection of stakeholders engaged by the organization
102-43 Approach to stakeholder engagement, including the frequency of engagement
102-44 Key issues and concerns raised by stakeholders and the organization’s response, also by reporting them
103-1 Explanation of the material topic and its Boundary
103-2 Approach to management and its components
103-3 Evaluation of the management approach
205-1 Operations assessed for risks related to corruption
205-2 Communication and training on anticorruption policies and procedures in the organization
205-3 Confirmed cases of corruption and actions taken
206-1 Legal steps taken against the organization for anti-competitive behavior, anti-trust, and monopoly practices
207-1 Approach to tax
207-2 Tax governance, control, and risk management
207-3 Stakeholder engagement and management of concerns related to tax
207-4 Country-by-country reporting
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
303-5 Total water consumption by source
305-1 Total direct (Scope 1) gas emissions
305-2 Total energy indirect (Scope 2) greenhouse gas emissions
305-3 Other indirect (Scope 3) greenhouse gas emissions
305-4 GHG emissions intensity
305-5 Reduction GHG emissions
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
308-1 New suppliers that were screened using environmental criteria
401-1 New employee hires and employee turnover
403-2 Rate for injury, occupational diseases, lost days, and absenteeism, and number of work-related fatalities
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 transition assistance programs
404-3 Percentage of employees receiving regular performance and career development reviews, by gender and employment category
405-2 Ratio of basic salary and remuneration of women to men
406-1 Incidents of discrimination and corrective actions taken
414-1 New suppliers that were screened using social criteria
417-1 Internal requirements for product and service information and labeling
417-2 Incidents of non-compliance with regulations and voluntary codes for product and service information labeling
417-3 Incidents of non-compliance with regulations and voluntary codes concerning marketing communications
418-1 Substantiated complaints regarding breaches of client privacy and data loss
419-1 Non-compliance with laws and regulations in the social and economic area
G4-FS15 Policies for the fair design and sale of financial products and services
G4-FS16 Initiatives to enhance financial literacy by type of beneficiary
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Results by segments (2017-2021)

PZU AR 2021 > Results by segments (2017-2021)
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Data from the profit and loss account – corporate insurance (non-life insurance) (PLN million) 2017 2018 2019 2020 2021
Gross written premiums 2 738 3 097 3 316 3 026 3 283
Net earned premiums 2 005 2 326 2 476 2 365 2 365
Investment income 85 113 100 116 73
Insurance claims -1 323 -1 591 -1 610 -1 593 -1 510
Acquisition costs -425 -477 -519 -511 -522
Administrative expenses -137 -131 -131 -144 -142
Reinsurance commission and share in profits 27 39 43 47 56
Other -41 -11 -32 33 -26
Insurance profit 191 268 327 313 294
Acquisition costs ratio (including reinsurance commission)* 19,9% 18,8% 19,2% 19,6% 19,7%
Administrative expenses ratio* 6,8% 5,6% 5,3% 6,1% 6,0%
Claims ratio* 66,0% 68,4% 65,0% 67,4% 63,8%
Combined ratio (COR)* 92,7% 92,9% 89,5% 93,1% 89,6%

* ratios calculated with net premium earned

sz_en_10_g.xlsx
  

Data from the profit and loss account – mass-market insurance (non-life insurance) (PLN million) 2017 2018 2019 2020 2021
Gross written premiums 10 068 10 401 10 403 10 244 10 910
Net earned premiums 9 513 10 168 10 261 10 192 10 121
Investment income 482 526 481 525 385
Insurance claims -6 069 -6 171 -6 410 -6 221 -6 198
Acquisition costs -1 745 -1 890 -1 986 -2 010 -2 166
Administrative expenses -608 -594 -651 -673 -678
Reinsurance commission and share in profits -9 -6 3 0 33
Other -237 -308 -249 -142 -246
Insurance profit 1 327 1 725 1 449 1 671 1 251
Acquisition costs ratio (including reinsurance commission)* 18,4% 18,6% 19,3% 19,7% 21,1%
Administrative expenses ratio* 6,4% 5,8% 6,3% 6,6% 6,7%
Claims ratio* 63,8% 60,7% 62,5% 61,0% 61,2%
Combined ratio (COR)* 88,6% 85,2% 88,1% 87,4% 89,0%

* ratios calculated with net premium earned

sz_en_10_h.xlsx
   

Data from the profit and loss account – group and individually continued insurance (PLN million) 2017 2018 2019 2020 2021
Gross written premiums 6 855 6 891 6 966 7 007 7 030
   Group insurance 4 878 4 887 4 940 4 958 4 975
   Individually continued insurance 1 977 2 004 2 026 2 049 2 055
Net earned premiums 6 854 6 890 6 965 6 956 7 055
Investment income 720 581 668 675 520
Insurance claims and change in other technical provisions net -5 142 -4 931 -5 057 -5 190 -5 597
Acquisition costs -332 -349 -388 -381 -394
Administrative expenses -587 -604 -640 -632 -669
Other -63 -44 -51 -37 -45
Insurance profit 1 450 1 543 1 497 1 391 870
Insurance profit excluding one-off events 1 450 1 543 1 497 1 391 870
Acquisition costs ratio* 4,8% 5,1% 5,6% 5,4% 5,6%
Administrative expenses ratio* 8,6% 8,8% 9,2% 9,0% 9,5%
Insurance profit margin 21,2% 22,4% 21,5% 19,9% 12,4%

* ratios calculated with gross premium written

sz_en_10_i.xlsx
   

Data from the profit and loss account – individual insurance (PLN million) 2017 2018 2019 2020 2021
Gross written premiums 1 664 1 346 1 581 1 712 1 750
Net earned premiums 1 662 1 344 1 579 1 710 1 747
Investment income 419 59 548 465 153
Insurance claims and change in other technical provisions net -1 672 -976 -1 640 -1 670 -1 329
Acquisition costs -135 -126 -139 -175 -224
Administrative expenses -61 -69 -72 -81 -86
Other -4 -5 -5 -5 -6
Insurance profit 209 227 271 244 255
Acquisition costs ratio* 8,1% 9,4% 8,8% 10,2% 12,8%
Administrative expenses ratio* 3,7% 5,1% 4,6% 4,7% 4,9%
Insurance profit margin* 12,6% 16,9% 17,1% 14,3% 14,6%

* ratios calculated with gross premium written

sz_en_10_j.xlsx
 

Data from the profit and loss account – investment contracts (PLN million) 2017 2018 2019 2020 2021
Gross written premiums 44 40 35 33 33
   Group insurance 2 2 1 1 1
   Individual insurance 42 38 34 32 32
Net earned premiums 44 40 35 33 33
Investment income 18 -14 16 13 -3
Insurance claims and change in the balance of other technical provisions net -50 -15 -42 -37 -22
Acquisition costs -1 -1 0 0 0
Administrative expenses -7 -5 -4 -3 -2
Other 0 -2 0 0 0
Operating profit 4 3 5 6 6
Profit margin* 9,1% 7,5% 14,3% 18,2% 18,2%

* ratios calculated with gross premium written

sz_en_10_k.xlsx
  

Data from the profit and loss account – banking activity (PLN million) 2017 2018 2019 2020 2021
Revenue from commissions and fees 2 133 3 115 3 146 3 008 3 426
Investment income 5 897 8 897 8 972 6 248 7 319
Interest costs -1 249 -1 904 -2 013 -1 074 -376
Administrative expenses -3 743 -4 989 -4 850 -4 782 -5 077
Other -599 -1 083 -1 757 -3 206 -1 513
Total 2 439 4 036 3 498 194 3 779

sz_en_10_l.xlsx

Data from the profit and loss account – pension segment (PLN million) 2017 2018 2019 2020 2021
Investment income 6 5 6 4 4
Other revenues 128 149 142 130 154
Administrative expenses -44 -40 -43 -56 -57
Other -3 -7 -4 -5 -5
Operating profit (loss) 87 107 101 73 96

sz_en_10_m.xlsx

Data from the profit and loss account – Ukraine segment (PLN million) 2017 2018 2019 2020 2021
Gross written premiums 223 257 335 291 339
Net earned premiums 123 152 217 196 227
Investment result 18 19 33 39 16
Net insurance claims -56 -59 -81 -76 -102
Acquisition costs -69 -82 -118 -101 -112
Administrative expenses -23 -25 -31 -33 -39
Other 18 18 19 29 24
Insurance profit 11 23 39 54 14
Exchange rate UAH/PLN 0.1402 0.133 0,.502 0,.439 0.1422
Acquisition costs ratio* 56.1% 53.9% 54.4% 51.5% 49.3%
Administrative expenses ratio* 18.7% 16.4% 14.3% 16.8% 17.2%

* ratios calculated with net premium earned

sz_en_10_n.xlsx
 

Data from the profit and loss account – Baltic states segment (PLN million) 2017 2018 2019 2020 2021
Gross written premiums 1 404 1 592 1 713 1 694 1 867
Net earned premiums 1 248 1 480 1 600 1 643 1 742
Investment result 20 2 38 18 42
Net insurance claims -773 -905 -989 -965 -1 082
Acquisition costs -275 -317 -335 -340 -366
Administrative expenses -111 -125 -133 -141 -142
Other 0 3 4 5 6
Insurance profit 109 138 185 220 200
Exchange rate EUR in PLN 4.2447 4.2669 4.3018 4.4742 4.5775
Acquisition costs ratio* 22,0% 21,4% 20,9% 20,7% 21,0%
Administrative expenses ratio* 8,9% 8,4% 8,3% 8,6% 8,2%

* ratios calculated with net premium earned

sz_en_10_o.xlsx
 

Investment segment (external) (PLN million) 2017 2018 2019 2020 2021
Total 88 -390 333 323 662

sz_en_10_p.xlsx
 

 

 

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