Polski
English
Due to the nature of operations undertaken by the companies of PZU Group, there are no accounts that would provide 10% or more of total revenues of PZU Group (defined as gross written premium). The note 58.5 presents revenues from 10 biggest business partners of PZU Groups which are state-controlled companies. PZU Group does not recognize different entities controlled by the Polish government as a single client (including government bodies and similar entities on the local, national or international level).
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Profit and loss account
for the period from 1 January 2014 to 31 December 2014 | Corporate insurance (non-life) | Mass insurance (non-life) | Group and individually continued insurance (life) | Individual insurance (life) | Investments | Pension insurance | Ukraine | Baltic Countries | Investment contracts | Other operations | Presentation differences | Real estate and capital instruments | Investment contracts | Technical rate in life insurance | Prevention fund, equalization reserve and designation to the Company Social Benefit Fund | Consolidation adjustments and unallocated items | Consolidated value |
Profit and loss account
for the period from 1 January 2014 to 31 December 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| PSR | PSR | PSR | PSR | PSR | PSR | MSSF | MSSF | PSR | PSR | PSR | PSR - MSSF | PSR - MSSF | PSR - MSSF | PSR - MSSF | MSSF | MSSF | ||
| Gross premium written externally | 1,807,349 | 6,559,511 | 6,539,082 | 1,268,637 | - | - | 173,562 | 536,498 | 374,467 | - | - | - | -374,467 | - | - | - | 16,884,639 | Gross insurance premium written externally |
| Gross premium written between segments | 23,794 | 9,973 | - | - | - | - | - | - | - | - | - | - | - | - | - | -33,767 | - | Gross insurance premium written between segments |
| Gross written insurance premium | 1,831,143 | 6,569,484 | 6,539,082 | 1,268,637 | - | - | 173,562 | 536,498 | 374,467 | - | - | - | -374,467 | - | - | -33,767 | 16,884,639 | |
| Reinsurers’ share in gross written premium | -226,610 | -62,606 | -4,272 | -122 | - | - | -32,988 | -27,698 | - | - | - | - | - | - | - | 4,384 | -349,911 | Reinsurers’ share in gross written insurance premium |
| Net written premium | 1,604,533 | 6,506,878 | 6,534,810 | 1,268,515 | - | - | 140,574 | 508,800 | 374,467 | - | - | - | -374,467 | - | - | -29,383 | 16,534,727 | Net written premium |
| - | ||||||||||||||||||
| - | ||||||||||||||||||
| Movement in the unearned premium reserve and gross unexpired risk reserve | -201,832 | 37,816 | 2,242 | -1,088 | - | - | -13,076 | -31,528 | 14 | - | 86,015 | - | -14 | - | - | 16,094 | -105,357 | Movement in net unearned premium reserve |
| Reinsurer’s share in the unearned premium reserve and gross unexpired risk reserve | 59,559 | 18,311 | - | - | - | - | 8,423 | -278 | - | - | -86,015 | - | - | - | - | - | - | |
| Net earned premium | 1,462,260 | 6,563,005 | 6,537,052 | 1,267,427 | - | - | 135,921 | 476,994 | 374,481 | - | - | - | -374,481 | - | - | -13,289 | 16,429,370 | Net earned premium |
| 417,786 | - | 12,282 | - | - | -79,304 | 350,764 | Fee and commission income | |||||||||||
| Investment income, including: | 136,456 | 562,821 | 713,254 | 326,696 | 2,823,234 | 11,639 | 41,058 | 14,617 | 43,550 | 167,678 | -4,841,003 | -1 | -0.3093 | |||||
| Net result on investments (external activity) | 136,456 | 562,821 | 713,254 | 326,696 | 578,923 | 11,639 | 41,058 | 14,617 | 43,550 | 167,678 | -2,596,692 | - | ||||||
| Net result on investments (inter-segment activity) | - | - | - | - | 2,244,311 | - | - | - | - | - | -2,244,311 | - | ||||||
| 1,970,605 | 2,775 | - | - | 23 | -179,565 | 1,793,838 | Net investment income (external activity) | |||||||||||
| 2,244,311 | - | - | - | - | -2,244,311 | - | Net investment income (inter-segment activity) | |||||||||||
| 437,938 | -3,914 | - | - | - | -6,877 | 427,147 | Net result on the realization of investments and impairment charges | |||||||||||
| 395,700 | 49,394 | - | - | - | 67,439 | 512,533 | Net change in the fair value of assets and liabilities carried at fair value | |||||||||||
| Other net technical income | 37,215 | 106,596 | 1,103 | 48 | - | - | - | - | 5 | - | -144,967 | - | ||||||
| Revenues on core business of non-insurance entities | - | - | - | - | - | 270,565 | - | - | - | 443,144 | -713,709 | - | ||||||
| Other operating income (not applicable to insurance entities) | - | - | - | - | - | 711 | - | - | - | 5,916 | 708,697 | -16,180 | - | - | - | -161,511 | 537,633 | Other operating income |
| Gross claims paid | -774,846 | -3,728,363 | -4,513,462 | -658,202 | - | - | -103,247 | -312,758 | -1,389,147 | - | -677,511 | - | 376,230 | - | 7,413 | 40,665 | -11,733,228 | Claims and movement in technical reserves |
| Movement in the gross claims reserve | -315,611 | -693,683 | 14,017 | 19,413 | - | - | -1,786 | -21,625 | -2,571 | - | 1,001,846 | - | ||||||
| Reinsurers’ share in claims paid | 28,166 | 34,380 | 85 | - | - | - | 7,208 | 26,293 | - | - | 109,225 | - | - | - | - | -13,837 | 191,519 | Claims and movement in insurance liabilities ceded to re-insurers |
| Reinsurer's share in the movement in reserves | 98,323 | 24,254 | - | - | - | - | 3,477 | -4,126 | - | - | -121,928 | - | ||||||
| Net insurance claims | -963,968 | -4,363,412 | -4,499,360 | -638,789 | - | - | -94,348 | -312,216 | -1,391,718 | - | 311,632 | - | 376,230 | - | 7,413 | 26,828 | -11,541,709 | Net insurance claims |
| Movement in other net technical reserves, life insurance reserves where the policyholder bears the investment risk, loss ratio (risk) equalization reserves | 2,427 | -9,526 | -70,328 | -611,119 | - | - | - | - | 1,015,526 | - | -326,980 | |||||||
| - | - | -14,031 | - | - | - | -14,031 | Claims and changes in valuation of investment contracts | |||||||||||
| Net premiums and rebates for insureds including the movement in reserves | -2,325 | - | -638 | - | - | - | - | - | -38 | - | 3,001 | - | ||||||
| Other net technical income | -39,759 | -220,142 | -21,227 | -1,689 | - | - | - | - | -494 | - | 283,311 | - | ||||||
| Acquisition cost | -306,347 | -1,238,906 | -356,627 | -126,442 | - | -6,349 | -52,126 | -115,445 | -16,466 | - | - | - | - | - | 818 | 70,866 | -2,147,024 | Acquisition cost |
| Administrative costs | -125,050 | -617,450 | -542,974 | -53,381 | - | -72,838 | -28,130 | -80,239 | -9,716 | - | -1 | -2,179 | - | - | -13,493 | 17,752 | -1,527,698 | Administrative costs |
| Reinsurance commissions and profit-sharing | 16,192 | -26,506 | 1,570 | - | - | - | - | - | - | - | 8,744 | - | ||||||
| Expenses of the core business of non-insurance entities | - | - | - | - | - | - | - | - | - | -415,875 | 415,875 | - | ||||||
| Other operating expenses (not applicable to insurance entities) | - | - | - | - | - | -244 | - | - | - | -25,625 | -936,742 | -3,745 | - | - | -67,989 | 126,605 | -907,740 | Other operating expenses |
| Result on insurance / Operating profit (loss) | 217,101 | 756,480 | 1,761,825 | 162,751 | 2,823,234 | 203,484 | 2,375 | -16,289 | 15,130 | 175,238 | 234,198 | 26,151 | - | - | -73,228 | -2,375,367 | 3,913,084 | Operating profit (loss) |
| Other operating income | 146,808 | 67,856 | 11,608 | 7,279 | -233,551 | |||||||||||||
| Other operating expenses | -219,894 | -34,756 | -4,662 | -23,063 | 282,375 | |||||||||||||
| Financial costs | -82,944 | -283,020 | 146,099 | -219,865 | Financial costs | |||||||||||||
| -1,525 | Share of profits (losses) of entities accounted for using the equity method | |||||||||||||||||
| 3,691,693 | Gross profit (loss) | |||||||||||||||||
| -724,066 | Income tax | |||||||||||||||||
| 2,967,627 | Net profit (loss) | |||||||||||||||||
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Profit and loss account
for the period from 1 January 2013 to 31 December 2013 | Corporate insurance (non-life) | Mass insurance (non-life) | Group and individually continued insurance (life) | Individual insurance (life) | Investments | Pension insurance | Ukraine (non-life) | Baltic countries (non-life) | Investment contracts | Other operations | Presentation differences | Real estate and capital instruments | Investment contracts | Prevention fund, equalization reserve and designation to the Company Social Benefit Fund | Consolidation adjustments | Consolidated value |
Profit and loss account
for the period from 1 January 2013 to 31 December 2013 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| PSR | PSR | PSR | PSR | PSR | PSR | MSSF | MSSF | PSR | PSR | PSR | PSR - MSSF | PSR - MSSF | PSR - MSSF | MSSF | MSSF | ||
| Gross premium written externally | 1,735,259 | 6,533,743 | 6,415,178 | 1,329,894 | - | - | 203,640 | 262,289 | 1,097,951 | - | - | - | -1,097,951 | - | - | 16,480,003 | Gross insurance premium written externally |
| Gross premium written between segments | 4,898 | - | - | - | - | - | - | - | - | - | - | - | - | - | -4,898 | - | Gross insurance premium written between segments |
| Gross written insurance premium | 1,740,157 | 6,533,743 | 6,415,178 | 1,329,894 | - | - | 203,640 | 262,289 | 1,097,951 | - | - | - | -1,097,951 | - | -4,898 | 16,480,003 | |
| Reinsurers’ share in gross written premium | -160,273 | -43,756 | -2,848 | -58 | - | - | -31,253 | -20,795 | - | - | - | - | - | - | 1,946 | -257,037 | Reinsurers’ share in gross written insurance premium |
| Net written premium | 1,579,884 | 6,489,987 | 6,412,330 | 1,329,836 | - | - | 172,387 | 241,494 | 1,097,951 | - | - | - | -1,097,951 | - | -2,952 | 16,222,966 | Net written premium |
| Movement in the unearned premium reserve and gross unexpired risk reserve | -35,703 | 64,717 | 1,739 | 946 | - | - | -9,036 | -17,606 | 606 | - | 19,631 | - | -606 | - | 1,115 | 25,803 | Movement in net unearned premium reserve |
| Reinsurer’s share in the unearned premium reserve and gross unexpired risk reserve | 11,571 | -2,419 | - | - | - | - | 7,221 | 3,258 | - | - | -19,631 | - | - | - | - | - | |
| Net earned premium | 1,555,752 | 6,552,285 | 6,414,069 | 1,330,782 | - | - | 170,572 | 227,146 | 1,098,557 | - | - | - | -1,098,557 | - | -1,837 | 16,248,769 | Net earned premium |
| 340,282 | - | 18,808 | - | -59,921 | 299,169 | Fee and commission income | |||||||||||
| Investment income, including: | 140,039 | 556,759 | 735,242 | 321,867 | 4,858,794 | 11,580 | 24,373 | 6,511 | 104,495 | 65,018 | -6,824,678 | ||||||
| Net result on investments (external activity) | 140,039 | 556,759 | 735,242 | 321,867 | 896,372 | 11,580 | 24,373 | 6,511 | 104,495 | 65,018 | -2,862,256 | ||||||
| Net result on investments (inter-segment activity) | - | - | - | - | 3,962,422 | - | - | - | - | - | -3,962,422 | ||||||
| 1,863,272 | - | - | - | 3,378 | 1,866,650 | Net investment income (external activity) | |||||||||||
| 3,962,422 | - | - | - | -3,962,422 | - | Net investment income (inter-segment activity) | |||||||||||
| 116,995 | 24,782 | - | - | -99,230 | 42,547 | Net result on the realization of investments and impairment charges | |||||||||||
| 768,849 | -105,879 | - | - | -57,612 | 605,358 | Net change in the fair value of assets and liabilities carried at fair value | |||||||||||
| Other net technical income | 11,522 | 34,872 | 1,524 | 1,867 | - | - | - | - | 83 | - | -49,868 | ||||||
| Revenues on core business of non-insurance entities | - | - | - | - | - | 218,300 | - | - | - | 400,948 | -619,248 | ||||||
| Other operating income (not applicable to insurance entities) | - | - | - | - | - | 3,090 | - | - | - | 6,002 | 602,126 | -16,189 | - | - | -109,808 | 485,221 | Other operating income |
| Gross claims paid | -890,923 | -3,410,960 | -4,290,148 | -609,567 | - | - | -83,190 | -147,070 | -1,334,969 | - | -1,609,046 | - | 1,157,463 | 6,323 | 16,810 | -11,195,277 | Claims and movement in technical reserves |
| Movement in the gross claims reserve | -1,959 | -761,742 | -9,526 | -17,034 | - | - | -5,417 | -359 | 5,221 | - | 790,816 | ||||||
| Reinsurers’ share in claims paid | 112,577 | 154,450 | 164 | - | - | - | 2,516 | 10,829 | - | - | -242,600 | - | - | - | -3,883 | 34,053 | Claims and movement in insurance liabilities ceded to re-insurers |
| Reinsurer's share in the movement in reserves | -73,805 | -174,716 | - | - | - | - | 5,199 | -2,487 | - | - | 245,809 | ||||||
| Net insurance claims | -854,110 | -4,192,968 | -4,299,510 | -626,601 | - | - | -80,892 | -139,087 | -1,329,748 | - | -815,021 | - | 1,157,463 | 6,323 | 12,927 | -11,161,224 | Net insurance claims |
| Movement in other net technical reserves, life insurance reserves where the policyholder bears the investment risk, loss ratio (risk) equalization reserves | -5,887 | -436 | -270,964 | -712,390 | - | - | - | - | 172,272 | - | 817,405 | ||||||
| - | - | -77,715 | - | - | -77,715 | Claims and changes in valuation of investment contracts | |||||||||||
| Net premiums and rebates for insureds including the movement in reserves | -298 | - | -523 | - | - | - | - | - | -4 | - | 825 | ||||||
| Other net technical income | -47,428 | -261,850 | -108,433 | -12,924 | - | - | - | - | -4,683 | - | 435,318 | ||||||
| Acquisition cost | -300,302 | -1,141,493 | -322,765 | -109,519 | - | -16,776 | -62,446 | -67,137 | -18,318 | - | - | - | - | -126 | 22,944 | -2,015,938 | Acquisition cost |
| Administrative costs | -115,829 | -546,865 | -545,720 | -53,225 | - | -77,923 | -35,904 | -26,490 | -11,377 | - | - | 1,131 | - | -20,568 | 26,290 | -1,406,480 | Administrative costs |
| Reinsurance commissions and profit-sharing | 8,022 | 66,967 | 501 | - | - | - | - | - | - | - | -75,490 | ||||||
| Expenses of the core business of non-insurance entities | - | - | - | - | - | - | - | - | - | -369,897 | 369,897 | ||||||
| Other operating expenses (not applicable to insurance entities) | - | - | - | - | - | -839 | - | - | - | -6,519 | -874,683 | -8,946 | - | 84,583 | 100,805 | -705,599 | Other operating expenses |
| Result on insurance / Operating profit (loss) | 391,481 | 1,067,271 | 1,603,421 | 139,857 | 4,858,794 | 137,432 | 15,703 | 943 | 11,277 | 95,552 | 18,403 | -105,101 | -1 | 70,212 | -4,124,486 | 4,180,758 | Operating profit (loss) |
| Other operating income | 65,131 | 14,763 | 796 | 3,613 | -84,303 | ||||||||||||
| Other operating expenses | -58,067 | -50,159 | -874 | -4,075 | 113,175 | ||||||||||||
| Financial costs | -57,112 | -47,270 | 42,718 | -61,664 | Financial costs | ||||||||||||
| Share of profits (losses) of entities accounted for using the equity method | 1,404 | Share of profits (losses) of entities accounted for using the equity method | |||||||||||||||
| 4,120,498 | Gross profit (loss) | ||||||||||||||||
| -825,543 | Income tax | ||||||||||||||||
| 3,294,955 | Net profit (loss) | ||||||||||||||||
| 2014 | Poland | Baltic States | Ukraine | Non-allocated (consolidation eliminations and other) | Consolidated value |
|---|---|---|---|---|---|
| Gross written premiums - external | 16,174,579 | 536,498 | 173,562 | - | 16,884,639 |
| Gross written premiums - cross-segment | 26,815 | - | - | -26,815 | - |
| Revenue from commissions and fees | 350,764 | - | - | - | 350,764 |
| Net investment income | 1,743,915 | 10,241 | 39,682 | - | 1,793,838 |
| Net result on realization and impairment losses on investments | 426,016 | 1,402 | -271 | - | 427,147 |
| Net change in the fair value of assets and liabilities measured at fair value | 507,904 | 2,974 | 1,655 | - | 512,533 |
| Non-current assets other than financial instruments 1) | 1,706,430 | 160,65 | 3,887 | -666 | 1,870,301 |
| Change in deferred tax assets | 20,556 | 5,383 | 1,018 | - | 26,957 |
| Assets | 67,788,204 | 1,185,229 | 224,704 | -1,625,376 | 67,572,761 |
1) Intangible assets and property, plant and equipment
| 2013 | Poland | Baltic States | Ukraine | Non-allocated (consolidation eliminations and other) | Consolidated value |
|---|---|---|---|---|---|
| Gross written premiums - external | 16,014,074 | 262,289 | 203,64 | - | 16,480,003 |
| Gross written premiums - cross-segment | 2,439 | - | - | -2,439 | - |
| Revenue from commissions and fees | 299,169 | - | - | - | 299,169 |
| Net investment income | 1,834,841 | 7,783 | 24,026 | - | 1,866,650 |
| Net result on realization and impairment losses on investments | 44,07 | -1,905 | 382 | - | 42,547 |
| Net change in the fair value of assets and liabilities measured at fair value | 604,745 | 633 | -20 | - | 605,358 |
| Non-current assets other than financial instruments 1) | 1,216,845 | 14,125 | 5,822 | -785 | 1,236,007 |
| Change in deferred tax assets | 15,351 | - | 1,598 | - | 16,949 |
| Assets | 62,512,606 | 415,708 | 259,963 | -400,973 | 62,787,304 |
1) Intangible assets and property, plant and equipment
