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| Other liabilities | 31 December 2014 | 31 December 2013 |
|---|---|---|
| Accrued costs | 743,655 | 638,382 |
| Accrued costs of brokers’ commissions | 250,867 | 209,871 |
| Accrued remuneration costs | 131,759 | 121,415 |
| Accrued costs from reinsurance | 214,268 | 194,079 |
| Accrued employee bonuses | 94,558 | 84,064 |
| Other | 52,203 | 28,953 |
| Deferred income | 33,374 | 17,738 |
| Other liabilities | 8,584,248 | 8,695,294 |
| Direct insurance liabilities | 686,714 | 634,831 |
| Reinsurance liabilities | 94,384 | 53,738 |
| Liabilities due to sell buy-back transactions | 4,411,497 | 5,124,161 |
| Liabilities from credits | 219,452 | 227,353 |
| Liabilities from loans | 53,952 | - |
| Liabilities to participants of consolidated investment funds | 856,865 | 688,282 |
| Liabilities to the State Budget, other than due to income tax | 30,001 | 147,721 |
| Public legal settlements: | 25,701 | 23,195 |
| Liabilities to employees | 13,106 | 3,481 |
| Insurance Guarantee Fund | 11,794 | 10,231 |
| Liabilities arising from financial instrument transactions | 444,089 | 1,533,088 |
| Liabilities to Shareholdrs (dividends) | 1,471,120 | 3,321 |
| Trade payables to suppliers | 89,787 | 69,273 |
| Estimated non-insurance liabilities | 133,359 | 125,673 |
| Other | 42,427 | 50,946 |
| Total other liabilities | 9,361,277 | 9,351,414 |
As at 31 December 2014 and 31 December 2013 the fair value of other liabilities did not differ substantially from their carrying amount, due to the fact that over 98% of them are short-term liabilities.
| Liabilities by maturity | 31 December 2014 | 31 December 2013 |
|---|---|---|
| Up to 1 year | 9,190,166 | 9,190,851 |
| Over 1 year and up to 5 years | 166,961 | 158,458 |
| Over 5 years | 4,150 | 2,105 |
| Total liabilities by maturity | 9,361,277 | 9,351,414 |
52.1 Direct insurance liabilities
| Direct insurance liabilities | 31 December 2014 | 31 December 2013 |
|---|---|---|
| Liabilities to policyholders | 408,721 | 368,130 |
| Liabilities to insurance intermediaries | 172,492 | 164,948 |
| Other insurance liabilities | 105,501 | 101,753 |
| Total direct insurance liabilities | 686,714 | 634,831 |
52.2 Liabilities due to sell buy-back transactions
Transactions were secured with financial instruments, described in point 54.1.
Presented below is the basic characteristics of the sell buy-back transactions as at 31 December 2014.
| Maturity dates of transactions | Carrying amount | Transaction currency | Carrying amount of assets pledged as security | Financial instrument pledged as security | Quantity |
|---|---|---|---|---|---|
| Up to 1 month | 4,211,114 | PLN | 4,213,474 | Treasury bonds | 3,837,200 |
| up to 6 months | 200,383 | PLN | 199,889 | Treasury bonds | 189,450 |
| Total | 4,411,497 | 4,413,363 | 4,026,650 |
52.3 Liabilities from operating leases
The majority of liabilities from operating leases result from rental of retail and office space. PZU Group has a policy of concluding contracts for a limited period of 3 or 5 years with an option of extension.
| Liabilities due to minimum operating lease fees | 31 December 2014 | 31 December 2013 |
|---|---|---|
| Up to 1 year | 27,795 | 27,040 |
| Over 1 year and up to 5 years | 57,573 | 43,152 |
| Over 5 years | 7,856 | 5,792 |
| Total liabilitiess due to minimum operating lease fees | 93,224 | 75,984 |
| Operating lease liabilites recognized in profit or loss for a given period | 1 January – 31 December 2014 | 1 January – 31 December 2013 |
|---|---|---|
| Minimum operating lease fees | 98,827 | 61,088 |
| Subleasing fees | (10) | (12) |
| Total | 98,817 | 61,076 |
