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 performed through obligatory reinsurance contracts supplemented by facutaltive reinsurance.
Reinsurance treaties in PZU
On the base of the reinsurance treaties it has entered into PZU limits its risk on catastrophic losses (e.g. floods, hurricanes) among others through a catastrophic non-proportional excess of loss treaty and against 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.
Reinsurance premium under obligatory treaties in PZU according to the Standard & Poor’s / AM Best rating
Munich Re, Hannover Re, Lloyd’s and VIG Re are among the major partners extending obligatory reinsurance cover to PZU in 2017. PZU’s reinsurance partners have high S&P ratings. That evidences the reinsurer’s robust financial position and affords the Company security.
PZU’s operations in inward reinsurance involves the PZU Group’s other insurance companies. The greater exposure to protection of the Baltic companies, LINK4 and TUW PZUW has led to a higher gross written premium by virtue thereof.
In addition, PZU generates gross written premium on inward reinsurance under its operations on the domestic and international market, mostly through facultative reinsurance.
Reinsurance treaties in PZU Życie
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.
QBE, Mapfre, Nacional De Reaseguros and Sava Re are the partners that extend reinsurance protection to PZU Życie. Its reinsurance partners have high S&P ratings. That evidences the reinsurer’s robust financial position and affords the Company security.
Reinsurance premium under obligatory treaties in PZU Życie according to the Standard & Poor’s rating
Reinsurance treaties in the PZU Group’s international companies, LINK4 and TUW PZUW
The PZU Group’s other insurance companies, i.e. PZU Ukraine, Lietuvos Draudimas, Lietuvos Draudimas Branch in Estonia, AAS Balta, 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.