Glossary beginning with P

Payout ratio

Dividend payout ratio, in other words the quotient of the dividend paid and the company’s net result stated as a percentage.

PFSA

Polish Financial Supervision Authority, www.knf.gov.pl

Profit margin in group and continued insurance in PZU Życie

an indicator calculated as the ratio of the result to gross written premium in the group and individually-continued insurance segment, net of one-off effects such as, for instance, the conversion effect, namely the conversion of longterm contracts into short-term contracts (according to Polish Accounting Standards) and changes to technical rates, namely the rate used to discount technical provisions.

Profit margin in group and continued insurance in PZU Życie
an indicator calculated as the ratio of the result to gross written premium in the group and individually-continued insurance segment, net of one-off effects such as, for instance, the conversion effect, namely the conversion of longterm contracts into short-term contracts (according to Polish Accounting Standards) and changes to technical rates, namely the rate used to discount technical provisions.