PZU – high operational efficiency

The financial results achieved by the PZU Group in recent years place it among the most profitable financial institutions in the country. They simultaneously contribute to high performance ratios. In 2013, the return on equity was 24.1%. In addition, the claims ratio in the insurance portfolio has steadily declined in recent years. In 2013, the combined ratio (COR) for non-life insurance declined to 87.8%.

The PZU Group complies with all operational safety standards. Equity amounted to PLN 13,127.8 m as at 31 December 2013. The solvency coverage ratio at both PZU and PZU Życie significantly exceeded the average for the insurance sector.

KPI20132012201120102009
ROE 24.1% 24.0% 18.3% 20.3% 24.0%
Combined ratio (COR) for non-life insurance 87.8% 92.8% 95.3% 104.5% 99.0%*
Group insurance profit margin** 23.0% 24.5% 21.8% n/a n/a

* change in the ABC indirect cost allocation model from 2010.
** ratio measured to the gross written premium of the group and individually continued insurance segment, excluding one-off effects.

Gross written premiums (in PLN million)



The premium increased at an average rate of 3.5% per annum from 2009 to 2013.

Net profit (in PLN million) and ROE (in %)

The PZU Group's ROE of 24.1% confirms that it is one of the most profitable financial institutions in Poland.

Solvency under Solvency I (in %)

The PZU Group's solvency ratio is higher than average for the insurance sector.

PZU’s insurance portfolio is not exposed to concentration risk because it is highly diversified. It largely consists of a substantial share of premiums obtained from the mass market (non-life insurance) and group insurance (with moderate sum of insurance).

At the end of 2013, the PZU Group employed approximately 11.24 thousand employees calculated as FTEs.