Share of the industry segments in the results

For management purposes, the PZU Group has been divided into the following industry segments:

  • corporate insurance (non-life) – this segment encompasses a wide range of non-life insurance, general liability and motor insurance, which are adapted to customer needs and, with individually valued risks, offered by PZU to large business entities;
  • mass-market insurance (non-life) – this segment comprises property, accident, general liability and motor insurance. PZU provides the insurance to individuals and entities from the SME sector;
  • life insurance – group and individually continued. PZU Życie offers this insurance to groups of employees and other formal groups (e.g. trade unions). People who have a legal relationship with the policyholder (for instance an employer or a trade union) may enroll in the insurance; and individually continued insurance in which the policyholder acquired the right to individual continuation during the group phase. It includes the following insurance types: protection, investment (which however are not investment contracts) and health insurance;
  • individual life insurance – PZU Życie provides this to individual customers. The insurance contract relates to a specific insured, subject to the assessment of the individual risk. This group comprises protection, investment (other than investment contracts) and health insurance products;
  • investments – this comprises investment activity conducted with the PZU Group’s own funds, defined as the surplus of investments over technical provisions in the leading companies of the PZU Group (PZU and PZU Życie) and surplus of income from investing activities of PZU and PZU Życie corresponding to value of technical provisions for non-investment insurance products over the risk free rate;
  • pension insurance – activity conducted by PTE PZU;
  • Ukraine – this includes both life and non-life insurance products;
  • Baltic States – life and non-life insurance products provided by PZU Lietuva Gyvybes Draudimas in Lithuania and, as of 2012, also by its branches in Latvia and Estonia (from 2013) offering non-life products;
  • investment contracts. These include PZU Życie products which do not result in a transfer of significant insurance risk and do not satisfy the definition of an insurance contract. They include some products with a guaranteed rate of return and some products in the form of a unit-linked policy;
  • other – this encompasses consolidated entities not classified in any of the segments above.