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In the Chapter

GRIs

Glossary beginning with P

Annual Report 2019 > Lexicon > Glossary > Glossary beginning with P
P/BV (Price to Book Value)

Multiple specifying the ratio of the market price (per share) to the book value per share.

P/E (Price to Earnings)

Multiple specifying the ratio of the company’s market price (per share) to earnings per share.

Payout ratio

Dividend payout ratio, in other words the quotient of the dividend paid and the company’s net result, stated as a percentage.

PRIIP

Commission Delegated Regulation (EU) 2017/653 of 8 March 2017 supplementing Regulation (EU) No. 1286/2014 of the European Parliament and of the Council on key information documents for packaged retail and insurancebased investment products.

PRIIP

Commission Delegated Regulation (EU) 2017/653 of 8 March 2017 supplementing Regulation (EU) No. 1286/2014 of the European Parliament and of the Council on key information documents for packaged retail and insurancebased investment products.

profit margin in group and individually continued insurance (in PZU Życie)

Indicator computed as the ratio of operating profit to the gross written premium of the group and individually continued insurance segment, net of non-recurring effects such as, for instance, the conversion effect, i.e. the conversion of long-term agreements into yearly renewable term agreements and the change of technical rates, i.e. the discount rate for technical provisions for accounting purposes.

Prudent Person Principle

Principle expressed in article 129 of the Solvency II Directive of the European Parliament and of the Council on the Taking-up and Pursuit of the Business of Insurance and Reinsurance that imposes on insurance undertakings and reinsurance undertakings the requirement of investing assets in the policyholders’ best interest, properly matching investments to liabilities and duly incorporating the various types of financial risk, such as liquidity risk and concentration risk.

PZU Group’s debt ratio

(Leverage ratio) – quotient of debt on long-term financial liabilities (net of bank deposits) to the sum of the following: debt on long-term financial liabilities and the PZU Group’s equity minus intangible assets (including the intangible assets carried in the balance sheets of banks and by virtue of the acquisition of banks, including goodwill), deferred acquisition expenses and deferred tax assets carried in the PZU Group’s consolidated financial statements.