Reinsurance protection in the PZU Group secures insurance activity, limiting the consequences of the occurrence of catastrophic phenomena that could adversely affect the financial standing of insurance undertakings. This task was accomplished through obligatory reinsurance treaties in conjunction with facultative reinsurance.
On the base of the reinsurance treaties it has entered into PZU limits its risk related to catastrophic losses (e.g. floods, cyclones) among others through a catastrophic non-proportional excess of loss treaty and related to the consequences of large single losses under non-proportional reinsurance treaties to protect its portfolios of property, technical, marine, air, third party liability and third party liability motor insurance. PZU’s risk is also limited by reinsuring the financial insurance portfolio.
Main reinsurers in 2019: Hannover Re, Munich Re, Gen Re, VIG Re, Scor
PZU’s reinsurance partners have high S&P ratings. That evidences the reinsurer’s robust financial position and affords the Company security.
PZU’s inward reinsurance business involves the PZU Group’s other insurance companies. Continued exposure to protect Baltic companies, LINK4 and TUW PZUW means that PZU continues to generate a high gross written premium by virtue thereof.
In addition, PZU generates gross written premium on inward reinsurance on domestic business through facultative and obligatory reinsurance.
Under the outward reinsurance treaty entered into by PZU Życie, the PZU Życie portfolio is protected against the accumulation of risk and it has protection for individual policies with higher sums insured.
Its reinsurance partners have high S&P ratings. That evidences the reinsurer’s robust financial position and affords the Company security.
Main reinsurers in 2019: QBE, Mapfre, Nacional de Reaseguros, Toa Re
The PZU Group’s other insurance companies, i.e. Lietuvos Draudimas, Lietuvos Draudimas Branch in Estonia, AAS Balta, PZU Ukraine, LINK4 and TUW PZUW have reinsurance cover aligned to the profile of their operations and their financial standing. Every material insurance portfolio is secured with the appropriate obligatory treaty. Reinsurance cover is provided for the most part by PZU, which transfers a portion of the accepted risk outside the Group.