8.1 Introduction

Risk management is aimed at:

  • increasing the value of PZU Group through active and conscious changes in the level of risk assumed;
  • preventing acceptance of risk at a level which could threaten the financial stability of PZU Group.

Risk management in PZU Group is based on risk analysis of all processes and units. Risk management is an integral part of the management process.

The main elements of risk management are consistent for all companies of PZU Group and implemented in a way which ensures the implementation of both strategic plans of individual companies and business objectives of the whole PZU Group. These include i.a.:

  • the systems of limits and restrictions of the acceptable risk level, including the level of appetite for risk;
  • processes of identifying, measuring and assessing, monitoring and controlling, reporting and managing actions with respect to the individual risks;
  • organisational structure of risk management, in which Management Boards and Supervisory Boards of companies as well as dedicated Committees play the key role.