6.3 Segment’s measure of profit

Reference Areas:
Best Pratices in PZU

The PZU Group’s fundamental measure of a segment’s profit is as follows:

  • in the case of corporate, mass, group, individually continued and individual insurance segments – insurance result, which is the financial result before tax and other operating income and expenses (including costs of financing), however including investment income (corresponding to the value of technical provisions) determined using the risk- free rate. The insurance result is a measure approximately equivalent to the technical result defined in PAS, taking into account the difference in the recognition of the net result on investments as described in the previous sentence;
  • in the case of the investment segment – the investment result of PZU Group companies minus the result allocated to insurance segments;
  • in the case of investment contracts – the operating result, calculated in the manner approximately equivalent to the technical result in accordance with PAS;
  • in the case of banking activity and foreign insurance activity – the operating result according to local accounting standards in the country of the company’s registered offices or according to IFRS, which is the financial result before tax.


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