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Interactive navigation is a tool that goes beyond the standard navigation of the integrated content (available in the report drop-down bar). New approach allowed to navigate in the two additional business dimensions of the PZU Group, i.e .:
  • strategy (insurance, health, investments, finances);
  • sustainable development (sales, employees, social responsibility, natural environment and ethics).
The above-mentioned areas were additionally supplemented with related GRI indicators, within each selected issue.
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Capital management

PZU AR 2020 > Risk and ethics > Capital management
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The PZU Group endeavors to do the following:

  • manage capital effectively by optimizing the usage of capital from the Group’s perspective,
  • maximize the rate of return on equity for the parent company’s shareholders, while maintaining the level of security and retaining capital resources for strategic growth objectives through acquisitions,
  • ensure sufficient financial means to cover the Group’s liabilities to its clients.

The capital management policy rests, in particular, on the following principles:

  • the PZU Group’s capital management (including excess capital) is conducted at the level of PZU as the parent company;
  • sustain target solvency ratios at the level of 200% for the PZU Group, PZU and PZU Życie (according to Solvency II),
  • ensure funds for growth and acquisitions in the coming years,
  • PZU will not issue any new shares for the duration of this policy.

In Bank Pekao and Alior Bank, the capital adequacy ratio and the Tier 1 ratio were computed on the basis of Regulation (EU) No 575/2013 of the European Parliament and of the Council of 26 June 2013 on prudential requirements for credit institutions and investment firms (CRR Regulation) and also the various types of risk identified in the Internal Capital Adequacy Assessment Process (ICAAP).

Capital adequacy ratio