close

Navigation Map

Download our best practices
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.
Employees
Society
Ethics
Environment
Products
Overview
Health
Banking
Investments
Insurance
Business
practices

In the Chapter

GRIs

PZU Group’s acquisition and administrative expenses

Annual Report 2019 > PZU Group’s acquisition and administrative expenses
Facebook Twitter All
Integrated Navigation
Insurance
Health
Investments
Banking
Best Pratices in PZU
Page tools:

In 2019 acquisition expenses rose PLN 233 million compared to the previous year. This upward movement was due in particular to the shift in PZU’s sales channel mix, sales growth and product mix change, with higher weight of products with higher acquisition expenses.

The Group’s administrative expenses in 2019 were PLN 6,606 million compared to PLN 6,609 million in 2018, i.e. they were down PLN 3 million versus the previous year.

The banking segment’s administrative expenses (net of the adjustments made to the fair value measurement of assets and liabilities) dropped by PLN 139 million in conjunction with both banks maintaining cost discipline and Alior Bank reversing a portion of its provision for deferred payroll costs. At the same time, the administrative expenses in the insurance activity segments in Poland were up PLN 96 million versus last year’s figures. This change largely resulted from higher personnel costs in connection with the wage pressure on the market.