Risk management process

The process of risk identification, measurement, assessment, monitoring and reporting, as well as the process of taking management actions, is subject to internal control at the PZU Group to ensure its compliance with internal and external regulations, constant improvement and adequacy to the PZU Group business profile.


The PZU Group prepares the following risk reports for:

  • management Board members – quarterly and monthly information by portfolio and business line on the levels of insurance, market, credit, concentration and operational risk;
  • ALCO members – weekly information on the level of market risk and current information on exceeded market limits;
  • the Credit Risk Committee – weekly and monthly information on the market, credit and concentration risk levels and current information on exceeded market, credit and concentration limits;
  • the Supervisory Board – quarterly information on key indicators of the level of insurance, market, credit, concentration and operational risk;
  • the other units report on the levels of risk related to their activities in accordance with the applicable internal regulations.

Management actions relating to individual risk categories are defined in the internal regulations of the PZU Group. Depending on the type and characteristics of the risk, these actions can include the avoidance of risk, the transfer of risk, the mitigation of risk, the acceptance of risk levels and tools which support these actions, i.e. limits, reinsurance programs and underwriting policy reviews.