Insurance claims and change in other technical provisions net (4,686) (4,718) (4,570) (4,570) (4,993)
Insurance profit margin (excl. conversion effect)* 25.8% 22.4% 25.9% 23.0% 18.1%
Data from the profit and loss account – individual insurance (PLN million) 2016 2015 2014 2013 2012
Data from the profit and loss account- banking activity (PLN million) 2016 2015 2014 2013 2012
Net revenue from commissions and fees 330 - - - -
Data from the profit and loss account – Baltic states segment (PLN million) 2016 2015 2014 2013 2012 exchange rate EUR (LTL)/PLN 4.3757 4.1848 1.2133 1.2196 1.2087 * ratios calculated with net premium earned
Act on statutory auditors – Act on statutory auditors and their self-governing body, auditing firms and on public oversight of 7 May 2009 (Journal of Laws of 2009, No. 77, item 649, as amended)
Establishment) Global on the basis of documentation and report drafted by a licensed assessor who cooperates with a design team during the certification process cedent – a person assigning a liability to a buyer compensation – the amount of money that the insurer pays out from the insurance in the case of an event covered by the insurance contract
bank. The example of such products are bank and insurance products, such as credit insurance
DPS (dividend per share) – a market ratio that determines the value of dividend per share
DY (dividend yield) – dividend per share / share market price earned premium – a written premium in a given period giving consideration to the settlement of revenues (premiums)
EPS (earnings per share) – a market ratio that determines the earnings attributable to a single share
Ordinance of the Minister of Finance of 19 February 2009 on current and periodic information submitted by issuers of instruments and conditions for recognizing as equivalent information required by the laws of a non-member state
P/BV – market price per share / book value per share
Prudent person principle – the rule laid down in Article 129.
Of Directive of the European Parliament and of the Council on the taking-up and pursuit of the business of Insurance and
PSFA – Polish Financial Supervision Authority; it exercises supervision over the banking sector, capital, insurance, and pension market, supervision over payment institutions and payment services offices, e-money institutions, and cooperative saving and credit institutions, www.knf.gov.pl profit margin in group and individually continued insurance (in PZU Życie) – an indicator calculated as the ratio of the insurance profit to gross written premium in the group and individually continued insurance segment, net of one-off effects such as, for instance, the conversion effect, namely the conversion of long-term contracts into short-term contracts and changes to technical rates, namely the rate used to discount technical provisions reinsurance – yielding all or a portion of an insured risk or a group of risks along with the commensurate portion of the premiums to some other insurance company – a reinsurer.
Solvency Capital Requirement, SCR – a capital requirement calculated as per Solvency II provisions.
Calculation of the capital requirement is based on the calculation of the following risks market, actuarial (insurance), counterparty insolvency, catastrophe, and operating risk, and afterwards undergoes a diversification analysis. The ratio can be calculated under a standard formula or, once an applicable permit of a supervisory body has been obtained, using a whole or partial internal model of the company solvency ratio – a statutory ratio (under Solvency II)
TSR (Total Shareholder Return) – a ratio that describes the total shareholder return from the shares of a given company per annum. It is a sum of return from change in prices of shares in a given company and paid dividend within the period of holding shares by a shareholder, in relation to the value of such shares as at the beginning of a given year; it is expressed in percentage per annum unit-fund – a separate assets fund which is a reserve made of insurance premiums and is invested in accordance with the insurance contract; a constituting part of unit-linked life insurance, also known as an investment policy,
Venture capital – mid- and long-term investments in non-public enterprises in the early stages of development, combined with managerial support, provided by specialized parties (venture capital funds). The objective of a venture capital investment is to generate profit from increased goodwill of the company and re-sell its shares or stocks after a given period
Such forward-looking statements are exposed to both known and unknown types of risks, involve uncertainties and are subject to other significant factors which may cause that the actual results, operations, or achievements of PZU Group considerably differ from future results, operations, or achievements expressed or implied in the forwards-looking statements. The statements are based on a number of assumptions concerning the current and future business strategy of PZU Group and the external environment in which the Group will operate in the future. PZU expressly waives any and all obligations or commitments concerning distribution of any updates or adjustments to any of the assumptions contained in these Financial Statements of PZU
Group, which shall aim to reflect the changes in PZU expectations or changes in events, conditions, or circumstances on which a given assumption has been made, unless provisions of the law provided otherwise. PZU stipulates that the forwardlooking statements do not constitute a guarantee as to the future results, and the company’s actual financial standing, business strategy, management plans and objectives concerning the future operations may considerably differ from those presented or implied in such statements contained in these Financial Statements of PZU Group. Moreover, even if the PZU Group’s financial standing, business strategy, management plans and objectives concerning the future operations comply with the forward-looking statements contained in these Financial Statements of PZU Group, such results or events may not be treated as a guideline as to the results or events in the subsequent periods. PZU does not undertake to publish any updates, changes, or adjustments to information, data or statements contained in these Financial Statements of PZU Group if the strategic operations or plans of
PZU Group is not liable for the effects of decisions made following the reading of the Financial Statements of PZU Group.
At the same time, these Financial Statements of PZU Group may not be treated as a part of a call or an offer to purchase securities or make an investment. The Financial Statements of PZU Group does not constitute also an offer or a call to effect any other transactions concerning securities.