6.1 Introduction

The purpose of risk management is to ensure that in realizing its business objectives, the PZU Group monitors and manages its investment and insurance portfolios and operating risks safely and handles the risk exposure adequately. The risk management strategy is an integral part of the management process in PZU and PZU Życie. The key elements of the risk management strategy:

  • the system of limits and restrictions to acceptable risk level, including risk appetite, determined by the Management and Supervisory Board of PZU and PZU Życie and adequate Committees
  • identification, measurement, evaluation, monitoring and reporting processes and management measures regarding each type of risk;
  • risk management organizational structure, in which Supervisory and Management Boards of PZU and PZU Życie, as well as the Committee for Assets, Equity and Liabilities Management and the Credit Risk Committee (the “Committees”) play the key role.