Changes in impairment losses on financial assets in the year ended 31 December 2014 | Impairment losses – opening balance | Recognition of impairment losses in the statement of profit or loss | Reversal of impairment losses in the statement of profit or loss | Derecognition of impairment losses (sale, write-off etc.) | Exchange difference | Change in group composition | Other changes in impairment losses 2) | Impairment losses – closing balance |
Available-for-sale financial instruments |
154,899 |
3,945 |
- |
- |
-681 |
- |
- |
158,163 |
Equity instruments |
154,899 |
3,945 |
- |
- |
-681 |
- |
- |
158,163 |
Financial assets held to maturity |
1,202 |
- |
- |
- |
33 |
- |
- |
1,235 |
Debt instruments |
1,202 |
- |
- |
- |
33 |
- |
- |
1,235 |
Loans and receivables |
24,725 |
10,242 |
- |
- |
86 |
- |
-10,033 |
25,020 |
Debt instruments |
- |
10,144 |
- |
- |
- |
- |
- |
10,144 |
Term deposits with credit institutions |
9,797 |
- |
- |
- |
100 |
- |
-9,897 |
- |
Loans |
14,928 |
98 |
- |
- |
-14 |
- |
-136 |
14,876 |
Receivables, including insurance receivables |
651,579 |
66,974 |
-128,024 |
-4,269 |
-3,216 |
13,273 |
-2,670 |
593,647 |
Receivables from direct insurance |
597,608 |
58,748 |
-94,279 |
-1,418 |
-2,616 |
10,143 |
-2,285 |
565,901 |
Reinsurance receivables |
4,619 |
5,319 |
-4,938 |
- |
- |
21 |
- |
5,021 |
Other receivables |
49,352 |
2,907 |
-28,807 1) |
-2,851 |
-600 |
3,109 |
-385 |
22,725 |
Reinsurers’ share in technical provisions |
4,828 |
21,88 |
-9,178 |
- |
1 |
- |
- |
17,531 |
Total |
837,233 |
103,041 |
-137,202 |
-4,269 |
-3,777 |
13,273 |
-12,703 |
795,596 |
1) including reversal of impairment losses in the amount of PLN 26,275 thousand due to a mortgage loan granted to Metro-Projekt Sp. z o.o. described in point 56.6.
2) this item presents the transfer of impairment losses of PZU Lietuva's assets to assets held for sale due to the transaction described in point 59.9.1. The decreaseof impairment losses was translated at average rate presented in Note 5.3.
Changes in impairment losses on financial assets in the year ended 31 December 2013 | Impairment losses – opening balance | Recognition of impairment losses in the statement of profit or loss | Reversal of impairment losses in the statement of profit or loss | Derecognition of impairment losses (sale, write-off etc.) | Exchange difference | Change in group composition | Impairment losses – closing balance |
Available-for-sale financial instruments |
164,273 |
110 |
- |
-9,429 |
-55 |
- |
154,899 |
- equity instruments |
164,273 |
110 |
- |
-9,429 |
-55 |
- |
154,899 |
Financial assets held to maturity |
- |
- |
- |
- |
-19 |
1,221 |
1,202 |
- debt instruments |
- |
- |
- |
- |
-19 |
1,221 |
1,202 |
Loans and receivables |
24,582 |
- |
- |
- |
143 |
- |
24,725 |
Term deposits with credit institutions |
9,657 |
- |
- |
- |
140 |
- |
9,797 |
Loans |
14,925 |
- |
- |
- |
3 |
- |
14,928 |
Receivables, including insurance receivables |
606,747 |
58,572 |
-11,900 |
-3,342 |
-229 |
1,731 |
651,579 |
Receivables from direct insurance |
568,127 |
40,847 |
-10,111 |
-2,687 |
-182 |
1,614 |
597,608 |
Reinsurance receivables |
3,959 |
1,220 |
-438 |
-122 |
- |
- |
4,619 |
Other receivables |
34,661 |
16,505 |
-1,351 |
-533 |
-47 |
117 |
49,352 |
Reinsurers’ share in technical provisions |
8,037 |
1,348 |
-4,557 |
- |
- |
- |
4,828 |
Total |
803,639 |
60,030 |
-16,457 |
-12,771 |
-160 |
2,952 |
837,233 |
Credit quality of financial assets as at 31 December 2014 | Carrying amount of assets that are not past due | Carrying amount of past due assets | Carrying amount | Impairment losses | Gross book value |
impaired | not impaired | up to 3 months | over 3 months and up to 6 months | over 6 months | individual | group |
Financial assets held to maturity |
- |
19,983,689 |
- |
- |
- |
19,983,689 |
1,235 |
- |
19,984,924 |
Available-for-sale financial instruments |
- |
2,434,865 |
- |
- |
- |
2,434,865 |
- |
- |
2,434,865 |
Loans and receivables |
193,144 |
14,501,059 |
278 |
- |
|
14,694,481 |
25,020 |
- |
14,719,501 |
Debt instruments |
193,144 |
2,797,411 |
- |
- |
- |
2,990,555 |
10,144 |
- |
3,000,699 |
Buy sell-back transactions |
- |
3,250,173 |
- |
- |
- |
3,250,173 |
- |
- |
3,250,173 |
Term deposits with credit institutions |
- |
6,143,503 |
278 |
- |
|
6,143,781 |
- |
- |
6,143,781 |
Loans |
- |
2,309,972 |
- |
- |
- |
2,309,972 |
14,876 |
- |
2,324,848 |
Receivables, including insurance receivables |
658,762 |
2,012,489 |
142,696 |
36,282 |
218,584 |
3,068,813 |
62,866 |
530,781 |
3,662,460 |
Receivables from direct insurance |
654,682 |
791,053 |
133,175 |
34,199 |
96,974 |
1,710,083 |
35,25 |
530,651 |
2,275,984 |
Reinsurance receivables |
98 |
20,042 |
6,266 |
461 |
1,815 |
28,682 |
5,021 |
- |
33,703 |
Other receivables |
3,982 |
1,201,394 |
3,255 |
1,622 |
119,795 1) |
1,330,048 |
22,595 |
130 |
1,352,773 |
Reinsurers’ share in technical provisions |
79,569 |
673,546 |
- |
- |
- |
753,115 |
17,531 |
- |
770,646 |
Total |
931,475 |
39,605,648 |
142,974 |
36,282 |
218,584 |
40,934,963 |
106,652 |
530,781 |
41,572,396 |
1) including PLN 109,478 thousand due to a mortgage loan to Metro-Projekt sp. z o.o. described in 56.6.
Credit quality of financial assets as at 31 December 2013 | Carrying amount of assets that are not past due | Carrying amount of past due assets | Carrying amount | Impairment losses | Gross book value |
impaired | not impaired | up to 3 months | over 3 months and up to 6 months | over 6 months | individual | group |
Financial assets held to maturity |
- |
18,859,902 |
- |
- |
- |
18,859,902 |
1,202 |
- |
18,861,104 |
Available-for-sale financial instruments |
- |
1,511,157 |
- |
- |
- |
1,511,157 |
- |
- |
1,511,157 |
Loans and receivables |
- |
14,401,538 |
- |
- |
- |
14,401,538 |
24,725 |
- |
14,141,262 |
Debt instruments |
- |
2,088,892 |
- |
- |
- |
2,088,892 |
- |
- |
2,088,892 |
Buy sell-back transactions |
- |
3,203,344 |
- |
- |
- |
3,203,344 |
- |
- |
3,203,344 |
Term deposits with credit institutions |
- |
7,387,007 |
- |
- |
- |
7,387,007 |
9,797 |
- |
7,396,804 |
Deposits with ceding undertaking |
- |
87 |
- |
- |
- |
87 |
- |
- |
87 |
Loans |
- |
1,722,208 |
- |
- |
- |
1,722,208 |
14,928 |
- |
1,737,136 |
Receivables, including insurance receivables |
215,334 |
2,064,538 |
148,616 |
27,267 |
216,209 |
2,671,964 |
90,974 |
560,605 |
3,323,543 |
Receivables from direct insurance |
207,110 |
893,232 |
145,401 |
25,953 |
112,629 |
1,384,325 |
37,114 |
560,494 |
1,981,933 |
Reinsurance receivables |
1,107 |
17,692 |
- |
- |
29 |
18,828 |
4,619 |
- |
23,447 |
Other receivables |
7,117 |
1,153,614 |
3,215 |
1,314 |
103,551 1) |
1,268,811 |
49,241 |
111 |
1,318,163 |
Reinsurers’ share in technical provisions |
38,870 |
487,735 |
- |
- |
- |
526,605 |
4,828 |
- |
531,433 |
Total |
254,204 |
37,324,870 |
148,616 |
27,267 |
216,209 |
37,971,166 |
121,729 |
560,605 |
38,653,500 |
1) including PLN 83,203 thousand due to a mortgage loan to Metro-Projekt sp. z o.o. described in point 56.6.