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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.
Human capital
Financial capital
Intellectual capital
Natural capital
Social capital
Policies
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PRACTICES

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GRIs

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GRIs

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GRIs

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GRIs

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Operating model

GRIs

Glossary beginning with A

PZU AR 2020 > Lexicon > Glossary > Glossary beginning with A
AAS Balta

Apdrošināšanas Akciju Sabiedrība Balta.

Acquisition expense ratio

The quotient of acquisition expenses (net of reinsurance commissions) and net earned premium (for the non-life insurance sector) or gross written premium (for the life insurance sector); this indicator specifies the percentage share of acquisition expenses in the premium, and a decrease in its value signifies an improvement in efficiency.

Act on Statutory Auditors

Act of 11 May 2017 on Statutory Auditors, Audit Firms and Public Supervision (Journal of Laws of 2017, Item 1089, as amended).

Act on the Rules for Terminating Employment Relationships

Act of 13 March 2003 on the Special Rules for Terminating Employment Relationships with Employees for Reasons Not Attributable to Employees (consolidated text: Journal of Laws of 2018, Item 1969).

Administrative expense ratio

The quotient of administrative expenses and net earned premium (for the non-life insurance sector) or gross written premium (for the life insurance sector); this indicator specifies the percentage share of administrative expenses in the premium, and a decrease in its value signifies an improvement in efficiency.

Alior Bank

Alior Bank SA.

Alior Bank Group

Alior Bank with its subsidiaries listed in section 2.2.

Assets of external clients of TFI PZU and PTE PZU (PLN billion)

Assets of external clients accumulated in the PZU “Złota Jesień” Open-End Pension Fund and the PZU Voluntary Pension Fund as well as all assets accumulated and managed by TFI PZU, other than those constituting own funds of PZU Group companies. An increase in this indicator means that the inflows of assets into the funds are greater than the outflows from the funds and/or that the funds generated positive rates of return on assets under management.

assurbanking

Distribution of banking products by insurance companies.