Other areas of activity


In accordance with the Articles of Association, the activities of PZU Asset Management SA (PZU AM) are:

  • conducting brokerage activities in the meaning of the Act on the trading of financial instruments of 29 July 2005 (including the management of investment portfolios of mutual funds);
  • the provision of portfolio management services.

Up to the end of December 2012, PZU AM had been managing PZU’s and PZU Życie’s selected asset portfolios, as well as providing investment portfolio management services for mutual funds managed by TFI PZU and the assets of the Słoneczna Jesień [Sunny Autumn] Employee Pension Fund managed by Międzyzakładowe Pracownicze Towarzystwo Emerytalne PZU. Following the reorganization of activities in the PZU Group’s investment areas involving the establishment of TFI PZU, the main asset management vehicle, as of 1 January 2013, PZU AM’s role in managing the PZU and PZU Życie asset portfolios, as well as the investment portfolios of mutual funds, was reduced.

During 2013, PZU AM’s activities involved managing closed-ended mutual funds from the real property sector as well as managing the assets of the Słoneczna Jesień Employee Pension Fund.

The management of closed-ended mutual funds from the real property sector was transferred to TFI PZU on 1 January 2014. Consequently, as of that date, PZU AM no longer provides management services for TFI PZU's real property mutual funds.

With effect from 1 February 2014, as a result of the conclusion of an agreement terminating the contract for the management of the assets of the Słoneczna Jesień Employee Pension Fund and the entry into force of the amendments to the statutes of the Słoneczna Jesień Employee Pension Fund, under which the Fund manages the assets on its own, PZU AM ceased providing asset management services to this fund.

In reply to PZU AM's application to rule on the expiration of the administrative decision taken by the Polish Securities and Exchange Commission on 28 May 2002 concerning the permission to conduct brokerage activity, on 4 March 2014, the Commission meeting was held where the ruling was made on the expiration of the administrative decision permitting PZU AM to conduct brokerage activity. The company does not conduct activities.

PZU Pomoc

The core activities of PZU Pomoc SA (PZU Pomoc) are, in particular:

  • organizing assistance type services involving the provision of assistance to the customer;
  • renting and leasing motor vehicles;
  • conducting on-line auctions and e-commerce;
  • managing loyalty programs;
  • managing post-accident property;
  • activities in medical support.

At the end of 2013, the Company was working with more than 1,000 healthcare establishments throughout the country and had a leading position on the market of intermediation in the sale of damaged vehicles through an on-line auction platform (this tool will be developed in the direction of using the platform for further claims handling processes in the PZU Group).
From June 2012, PZU Pomoc held 30% of the shares in GSU Pomoc Górniczy Klub Ubezpieczonych [GSU Mining Assistance Insured Club]. Discount, incentive and loyalty programs addressed to the mining industry are being developed within this entity.


Ogrodowa-Inwestycje Sp. z o.o. (Ogrodowa-Inwestycje) is the owner of the City-Gate office building (ul. Ogrodowa 58, Warsaw) and leases three leisure centers from PZU (the Albatros Guest House, the Polanica Hotel and the Karłów Hotel).

Ogrodowa-Inwestycje performs functions for both companies from the PZU Group and external customers.


The statutory activities of PZU CO include conducting business regarding the provision of:

  • ancillary services related to insurance and pension funds;
  • permanent intermediation in the conclusion of insurance contracts, financial and investment contracts and assistance agreements;
  • contact center services;
  • data center services;
  • printing services;
  • IT services.

Grupa Armatura

PZU Group has held an equity stake in Armatura Kraków S.A. (Armatura Kraków) since October 1999. Armatura Kraków has been consolidated in the PZU Group’s consolidated financial statements since 1 January 2011. The decision to start consolidating the Company was made by the Management Board of PZU because the thresholds of materiality had been exceeded.

Armatura Kraków is the parent company of the Armatura Group and has been listed on the Warsaw Stock Exchange since 2007. The Armatura group includes Armatura Kraków SA, Armatoora SA, Armatoora SA i wspólnicy sp. k., Armagor SA, Armadimp SA, and Armatura Tower Sp. z o.o. The Armatura Group does not do business in financial and insurance services. It is a leading manufacturer in the plumbing and heating sector in Poland. The companies making up the Armatura Group specialize in the manufacture of bathroom and kitchen taps, aluminum central heating radiators, a wide range of valves and sanitary-ware.

Since 27 August 2013, the owner of Armatura Kraków has been an mutual fund managed by TFI PZU – PZU FIZ AN BIS 2 as a result of the contribution of shares in exchange for the allocation of investment certificates to PZU Życie.

In 2013, the PZU FIZ AN BIS 2 fund acquired:

  • 15,229,960 shares in Armatura Kraków as a result of a call announced on 30 August 2013; after this transaction was cleared, on 28 October 2013, the PZU Group held 66,829,960 shares, representing 82.51% of the share capital.
  • 1,217,197 shares through stock exchange transactions with a clearance date of 31 October 2013.
  • 7,078,381 shares as a result of a call announced on 6 November 2013; after this transaction was cleared, on 18 December 2013, the PZU Group held 75,125,538 shares, representing 92.75% of the share capital.
  • 5,816,287 shares as a result of a squeeze out of minority shareholders announced on 16 January 2014; after this transaction was cleared, from 23 January 2014, the PZU Group held 80,941,825 shares in Armatura Kraków, representing 99.93% of the share capital. The Company itself holds the remaining 58,175 shares.

The Warsaw Stock Exchange suspending Armatura Kraków’s listing on 16 January 2014.

On 18 February 2014 the Polish Financial Supervision Authority agreed to the return of the Company’s shares to the form of a document (elimination of the dematerialization of the shares) on 10 March 2014.


MPTE PZU SA handles pillar III pension programs for PZU’s and PZU CO’s employees. These are programs with specified premiums, which are additionally paid for by the employer in excess of the salary specified in the employment contract, constituting 7% of the gross salary.

Tower Inwestycje

Tower Inwestycje Sp. z o.o. (formerly PZU Tower) was established in 1998 as a special purpose vehicle of the PZU Group. The Company’s shareholders are PZU and PZU Życie.

Tower Inwestycje’s activities currently include the investment of free funds. In 2013, the Company took up activities of accounting and HR/salary support for companies in the PZU Group (PZU AM, PZU TFI).