|Objective||Summary of the performed operations and accomplishments|
|Profitable maintenance of the position in non-life insurance (in Poland)||1. Operating profit in the mass-market insurance segment in 2014 was 31.9% higher than in 2011.
2. According to the PFSA data, PZU is the market leader in the mass-market category after three quarters of 2014 - 34.2% in motor own damage, 26.8% in MTPL insurance, and 46.2% in other insurance.
3. Release of further products on the Everest platform (PZU Auto, PZU Dom, PZU NNW, OC w Życiu Prywatnym, Wojażer).
4. Acquisition of Link4, the leader of the Polish direct insurance market. In 2014, it held 1.6% of the gross written premiums of the non-life insurance companies in Poland
|Development of life insurance (in Poland)||1. 121.5% increase in the gross written premium in the individual life insurance segment compared with 2011.
2. In scope of the implementation of analytical CRM, PZU Życie developed functions allowing cross-selling operations.
|Building a position in the Investments sector||1. Acquisition of PLN 1.7 billion in net assets of external clients by TFI PZU in 2014. By the end of 2014 TFI PZU managed over PLN 6.0 billion assets of external clients, i.e. 41.5% more than by the end of 2013. The value of these assets grew 2.5 times within the last 3 years.
2. In December 2014, the value of TFI PZU’s net assets amounted to PLN 25.5 billion which represented 12.2% of the assets of investment fund companies (maintaining the first position on the market).
3. PZU Group registered 17 out of 29 new Employee Pension Programmes (EPP) set-up in 2014. This allowed PZU Inwestycje to strengthen its position as the leader of the EPP market managing 524 out of a total of 1,063 such programmes in Poland.
|Profitable maintenance of the leadership position in life insurance (in Poland)||1. Operating profit, excluding the conversion effect in the group and continued insurance segment for 2014, was 25.4% higher than in 2011.
2. Consistent growth in the gross written premium (+5.8% compared with 2011) and high profitability of the segment.
3. In 2014, still first with 42.8% market share in regular premiums.
4. Sales of new individual continuation policies for group life insurance.
|Development of individual relations (Klub PZU Pomoc w Życiu [PZU Help in Life Club])||1. The number of club members rose to 2.6 million (from over 2.0 million as at the end of 2011).
2. Expansion of the range of services and discounts offered by the Klub PZU Pomoc w Życiu.
|Dynamic development of health insurance and
building the leading private health care provider
|1. 111.1% increase in the written premium in group health insurance compared with 2011.
2. 185.3% increase in the number of risks in group health insurance compared with 2011.
3. Introduction of medicine insurance that includes the modified offer of the Antybiotyk (“Cztery Pory Roku”) additional insurance (also for continued insurance).
4. Expansion of the own health care centre network. Purchase of shares in Elvita Jaworzno III (one of southern Poland’s biggest chain of cutting edge health care offices) acquired from three companies of the Tauron Group, Centrum Medyczne Medica (acquired from PKN ORLEN), and Specjalistyczna Przychodnia Przemysłowa “Prof-Med” (acquired from Anwil).
5. Expansion of health care service access channels by a mobile application.
|The corporate customer|
|Regaining market position and maintaining profitability (in Poland)||1. Operating profit for 2014 in the corporate insurance segment was 11.7% higher than in 2011.
2. According to the PFSA data, PZU is the market leader after three quarters of 2014 in the category of “enterprises and other entities” in terms of value of gross premium written - 42.5% in motor own damage, 47.6% in MTPL insurance, 19.1% in other insurance.
|Other areas of activity|
|Effective capital and investment policy||1. Five-year Eurobonds issuance in the amount of EUR 500 million. The high rating and good strategy realisation results allowed for the most beneficial bonds issuance by the Polish
company on the international market.
2. PLN 4,663.0 million of PZU’s 2013 net profit paid as dividend.
3. Continuation of the work aimed at preparing PZU Group to comply with the regulatory requirements related to the Solvency II Directive.
4. Acquisition of the prestigious logistic property portfolio. PZU Group acquired four logistics parks located in Łódź, Wrocław, and Gdańsk for EUR approximately 140 million.
|Expansion in Central and Eastern Europe||1. Strengthening of the position in Central and Eastern Europe resulting from the acquisition of the leaders on the following markets: Lithuanian - Lietuvos Draudimas AB and Latvian -
AAS Balta, as well as the Estonian branch of Codan Forsikring A/S.
|Conditions for implementation|
|Modern and integrated customer service model
and effective operations
|1. Implementation of direct claims handling.
2. 91.5 % of customers were satisfied with the claims handling process (a customer satisfaction survey conducted on a sample of approx. 24 thousand people in 2014).
3. First insurance company on the Polish market to introduce a fleet of replacement cars (300 hybrid vehicles available throughout the country).
4. Introduction of new functions of the Everest policy system. By the end of 2014 the Everest platform was used to issue 27 thousand policies daily.
5. Establishment of the Organizatorzy Pomocy Poszkodowanym w Wypadkach team [Providers of Assistance to Accident Victims].
|HR: business partner/ committed employees/
|1. Another survey of PZU employee commitment was held. The 2013 involvement index was 48% compared to 40% in the prior year.
2. Revitalisation and standardisation of the branches and the change in the customer service model on many levels.
3. Introduction of an e-learning training module dedicated to PZU Group.
4. Start of the next round of practices and internships in PZU Group. The campaign “Upoluj najlepszy staż w mieście” (Hunt Down the Top Internship in Town) was held.
5. Inauguration of the Menedżer 2.0 development programme which is the continuation of the “Lider 2.0” programme, addressed to the management.
6. The “PZU. Przyciągamy najlepszych” (PZU, We Attract the Best) campaign was conducted to help the company acquire the best candidates. The message was for both experienced
experts and academic students and graduates.
7. The “W trosce o serce” (Care for the Heart) programme covered over 1,200 women working at PZU.
8. The start of implementation of a new personnel and salary system.