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- About the report
- Results
- Comment on the financial results for 2021
- Major factors contributing to the consolidated financial result
- PZU Group’s income
- PZU Group’s claims paid and technical provisions
- PZU Group’s acquisition and administrative expenses
- Drivers and atypical events affecting the results
- PZU Group’s asset and liability structure
- Contribution made by the market segments to the consolidated result
- Issuer’s financial results – PZU (PAS)
- Supplementary information and notes
- 1. Introduction
- 2. Composition of PZU Group
- 3. Shareholder structure
- 4. Composition of the Management Board, Supervisory Board and PZU Group Directors
- 5. Key accounting policies, key estimates and judgments
- 5.1 Changes in accounting policies and estimates, errors from previous years
- 5.2 Amendments to the applied IFRS
- 5.3 Explanation of the difference between the 2020 annual consolidated financial statements and these consolidated financial statements
- 5.4 Consolidation principles
- 5.5 Measurement of transactions and balances denominated in foreign currencies and FX rates used
- 5.6 Purchase method
- 5.7 Classification of insurance contracts in accordance with IFRS 4
- 6. Segment reporting
- 7. Risk management
- 8. Equity management
- 9. Fair value
- 10. Gross written premiums
- 11. Revenue from commissions and fees
- 12. Interest income calculated using the effective interest rate
- 13. Other net investment income
- 14. Result on derecognition of financial instruments and investments
- 15. Movement in allowances for expected credit losses and impairment losses on financial instruments
- 16. Net movement in fair value of assets and liabilities measured at fair value
- 17. Other operating income
- 18. Claims, benefits and movement in technical provisions
- 19. Fee and commission expenses
- 20. Interest expenses
- 21. Acquisition costs
- 22. Administrative expenses
- 23. Employee expenses
- 24. Other operating expenses
- 25. Income tax
- 26. Earnings per share
- 27. Goodwill
- 28. Intangible assets
- 29. Other assets
- 30. Deferred acquisition cost
- 31. Property, plant and equipment
- 32. Investment property
- 33. Entities measured by the equity method
- 34. Loan receivables from clients
- 35. Financial derivatives
- 36. Investment financial assets, including assets securing liabilities
- 37. Receivables
- 38. Impairment of financial assets
- 39.Cash and cash equivalents
- 40. Equity attributable to equity holders of the parent
- 41. Technical provisions
- 42. Subordinated liabilities
- 43. Liabilities on the issue of own debt securities
- 44. Liabilities to banks
- 45. Liabilities to clients under deposits
- 46. Other liabilities
- 47. Provisions
- 48. Deferred income tax
- 49. Assets and liabilities held for sale
- 50. Lease
- 51. Assets securing receivables, liabilities and contingent liabilities
- 52. Contingent assets and liabilities
- 53. Offsetting financial assets and financial liabilities
- 54. Notes to the consolidated cash flow statement
- 55. Disputes
- 56. Transactions with related entities
- 57. Headcount
- 58. Other information
- Financial data 2021
- Financial data (2017-2021) Focus on: Results - check the highlights of the year!
- Comment on the financial results for 2021
- Market and business
- Capitals (IIRC)
- Strategy and outlook 2021+
- Risk management
- Ethics and governance
- Ethical foundations of doing business
- Application of corporate governance rules
- Financial statements control system
- Audit firm auditing the financial statements
- PZU’s share capital and shareholders
- Rules for amending PZU’s Articles of Association
- Shareholder Meeting and shareholder rights
- Supervisory Board and Management Board
- Compensation paid to members of supervisory and management bodies
- Diversity policy Focus on: Ethics and governance - check the highlights of the year!
- Shares and bonds
28.2 Quantitative data
PZU AR 2021 > Results > Supplementary information and notes > 28. Intangible assets > 28.2 Quantitative data
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| Movement in intangible assets (by type groups) in the year ended 31 December 2021 | Software, licenses and similar assets | Trademarks | Client relations | Intangible assets under development | Other intangible assets | Total intangible assets |
| Gross value at the beginning of the period | 3 442 | 622 | 1 999 | 565 | 99 | 6 727 |
| Changes: | 431 | - | - | 138 | 2 | 571 |
| – purchases and in-house production | 23 | - | - | 782 | 2 | 807 |
| – transfers | 625 1) | - | - | -632 | 3 | -4 |
| – sale and liquidation | -262 | - | - | -6 | -3 | -271 |
| – foreign exchange differences and other | 45 | - | - | -6 | - | 39 |
| Gross value at the end of the period | 3 873 | 622 | 1 999 | 703 | 101 | 7 298 |
| Accumulated amortization at the beginning of the period | -1 871 | - | -1 373 | - | -76 | -3 320 |
| Changes: | -249 | - | -128 | - | -5 | -382 |
| – amortization for the period | -498 | - | -128 | - | -8 | -634 |
| – sale and liquidation | 246 | - | - | - | 3 | 249 |
| – transfers | 3 | - | - | - | - | 3 |
| Accumulated amortization at the end of the period | -2 120 | - | -1 501 | - | -81 | -3 702 |
| Impairment losses at the beginning of the period | -23 | -100 | -61 | -17 | - | -201 |
| Changes charged to other operating expenses | -7 | - | - | -2 | - | -9 |
| Claims handling | 15 | - | - | 2 | - | 17 |
| Impairment losses – at the end of the period | -15 | -100 | -61 | -17 | - | -193 |
| Net value of intangible assets at the end of the period | 1 738 | 522 | 437 | 686 | 20 | 3 403 |
1) Including PLN (4) million on account of transfers to the held-for-sale category under IFRS 5.
| Movement in intangible assets (by type groups) in the year ended 31 December 2020 | Software, licenses and similar assets | Trademarks | Client relations | Intangible assets under development | Other intangible assets | Total intangible assets |
| Gross value at the beginning of the period | 2 955 | 612 | 1 975 | 463 | 85 | 6 090 |
| Changes: | 487 | 10 | 24 | 102 | 14 | 637 |
| – purchases and in-house production | 82 | - | - | 773 | 5 | 860 |
| – transfers | 648 | - | - | -655 | 7 | - |
| – sale and liquidation | -249 | - | - | -7 | -2 | -258 |
| – foreign exchange differences and other | 6 | 10 | 24 | -9 | 4 | 35 |
| Gross value at the end of the period | 3 442 | 622 | 1 999 | 565 | 99 | 6 727 |
| Accumulated amortization at the beginning of the period | -1 662 | - | -1 177 | - | -68 | -2 907 |
| Changes: | -209 | - | -196 | - | -8 | -413 |
| – amortization for the period | -450 | - | -173 | - | -7 | -630 |
| – sale and liquidation | 242 | - | - | - | 2 | 244 |
| – foreign exchange differences and other | -1 | - | -23 | - | -3 | -27 |
| Accumulated amortization at the end of the period | -1 871 | - | -1 373 | - | -76 | -3 320 |
| Impairment losses at the beginning of the period | -15 | - | - | -11 | - | -26 |
| Changes charged to other operating expenses | -8 | -100 | -61 | -12 | - | -181 |
| Other changes | - | - | - | 6 | - | 6 |
| Impairment losses – at the end of the period | -23 | -100 | -61 | -17 | - | -201 |
| Net value of intangible assets at the end of the period | 1 548 | 522 | 565 | 548 | 23 | 3 206 |
| Amortization of intangible assets, by their presentation in consolidated profit and loss account | 1 January – 31 December 2021 | 1 January – 31 December 2020 |
| Claims, benefits and movement in technical provisions | 25 | 27 |
| Acquisition expenses | 33 | 25 |
| Administrative expenses | 436 | 397 |
| Other operating expenses 1) | 140 | 181 |
| Total amortization | 634 | 630 |
1) Including the amortization of intangible assets purchased in company acquisition transactions in the amount of PLN 128 million (PLN 173 million in 2020).
Investor Relations Team
e-mail: IR@pzu.pl
Magdalena Komaracka, IR Director, tel. +48 (22) 582 22 93
Piotr Wiśniewski, IR Manager, tel. +48 (22) 582 26 23
Aleksandra Jakima-Moskwa, tel. +48 (22) 582 26 17
Aleksandra Dachowska, tel. +48 (22) 582 43 92
Piotr Wąsiewicz, tel. +48 (22) 582 41 95