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Structure of the PZU Group

Annual Report 2019 > Structure of the PZU Group
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The PZU Group conducts various activities in insurance and finance. In particular, the PZU Group’s companies provide services in life insurance, non-life insurance, health insurance and they manage client assets within its open-end pension fund and mutual funds, and thanks to its investment in Bank Pekao and Alior Bank they also offer banking services.

Structure of the PZU Group (as at 31 December 2019)

1 the following branches operate within PZU Zdrowie: CM Nasze Zdrowie, CM Medicus, CM Cordis, CM Warszawa, CM Kraków, CM Poznań, CM Wrocław, CM Revimed, CM Artimed
2 the Centrum Medyczne Medica Group is composed of the following companies: Centrum Medyczne Medica Sp. z o.o. and Sanatorium Uzdrowiskowe “Krystynka” Sp. z o.o.
3 the Elvita Group consists of the following companies: Przedsiębiorstwo Świadczeń Zdrowotnych i Promocji Zdrowia ELVITA – Jaworzno III sp. z o.o., Przedsiębiorstwo Usług Medycznych PROELMED sp. z o.o. in Łaziska Górne
4 the Alior Bank Group is composed of the following companies: Alior Bank SA, Alior Services sp. z o.o., Alior Leasing sp. z o.o., Meritum Services ICB SA, Alior TFI SA, New Commerce Services sp. z o.o., Absource Sp. z o.o., Serwis Ubezpieczeniowy sp. z o.o. PayPo sp. z o.o., CORSHAM Sp. z o.o. RBL VC sp z o.o.
5 the Bank Pekao Group is composed of the following companies: Bank Pekao SA, Pekao Bank Hipoteczny SA, Pekao Leasing sp. z o.o., Pekao Investment Banking SA, Pekao Faktoring sp. z o.o., Centrum Kart SA, Pekao Financial Services Sp. z o.o., Pekao Direct Sp. z o.o. (until 16.01.2020 Centrum Bankowości Bezpośredniej Sp. z o.o.), Dom Inwestycyjny Xelion Sp. z o.o., Pekao Investment Management SA (which holds a 100% stake in Pekao TFI SA), CPF Management
6 the Armatura Group is composed of the following companies: Armatura Kraków SA, Aquaform SA, Aquaform Ukraine TOW, Aquaform Romania SRL
7 the Tomma Group is composed of the following subordinate companies: Bonus Diagnosta Sp. z o.o. and Asklepios Diagnostyka Sp. z o.o.
Its structure does not include mutual funds or companies in liquidation.

PZU – as the parent company – through its representatives in supervisory bodies of subsidiaries and voting at their shareholder meetings, exerts an impact on the selection of strategic directions regarding both the scope of business and the finances of the Group members. As selected companies focus on their specialization and utilize their membership in the Tax Group, these companies render services to one another on chosen markets pursuant to an internal cost allocation model (under the Tax Group).

The following changes transpired in the structure of the PZU Group in 2019 up to the date of publication of these financial statements:

  • on 31 January 2019, the final share purchase agreement was signed between PZU Zdrowie and the shareholders of Alergo-Med Tarnów Sp. z o.o., under which PZU Zdrowie purchased shares in Alergo-Med Tarnów Sp. z o.o.;
  • on 3 June 2019, PZU Zdrowie purchased shares in Falck Centra Medyczne Sp. z o.o. and Starówka Sp. z o.o.;
  • on 29 October 2019, PZU Zdrowie entered into a preliminary share purchase agreement with THC SICAV-RAIF SA, and on 9 December 2019 into final share purchase agreement for an equity stake in Tomma. At the same time, PZU Zdrowie, and thus also PZU, became an indirect owner of the following subsidiaries of Tomma: Asklepios Diagnostyka sp. z o.o. and Bonus-Diagnosta sp. z o.o., in which Tomma holds a 100% stake and 100% of votes at the shareholder meeting;
  • on 16 December 2019, Specjalistyczny Zakład Opieki Zdrowotnej Multimed sp. z o.o. merged with Elvita Jaworzno III Sp. z o.o.;
  • on 2 January 2020, SPP Prof.-med Sp. z o.o. merged with Centrum Medyczne Medica Sp. z o.o.

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