Reference Areas:
Best Pratices in PZU

Associates are entities on which significant influence is exerted, or the power to participate in the financial and operating policy decisions of the investee but is not control or joint control.

A joint venture is a contractual arrangement whereby the parties that have joint control of the arrangement have rights to the net assets of the arrangement.  

Associates and joint ventures are measured by the equity method, in which on initial recognition the investment is recognized at cost, and the carrying amount is increased or decreased to recognize the investor’s share of the profit or loss of the associate or joint venture. The share of the PZU Group in the financial result of the associates and joint ventures is recognized in the consolidated profit and loss account under “Share of the net profit of entities measured by the equity method”, while share in movement in other comprehensive income under other comprehensive income.


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