Powszechny Zaklad Ubezpieczen Spolka Akcyjna · GPW:PZU
Powszechny Zaklad Ubezpieczen Spolka Akcyjna — PZU Group — Investor Presentation (May 2025)
31 slides from Powszechny Zaklad Ubezpieczen Spolka Akcyjna's investor presentation, May 2025
Slide 1: PZU Group Overview: Growth, profitability, dividend
PZU Group Overview Growth, profitability, dividend May 2025
Slide 2: PZU Group offers a wide range of products and services
PZU Group offers a wide range of products and services… Non-life insurance Health care • Motor insurance (MTPL, MOD) • Health insurance • Home insurance • Medicine insurance • Corporate & SME insurance • Health care services: general • Agricultural insurance health care and packages of • Financial i
Slide 3: Largest financial conglomerate in Central and Eastern Europe
… being the largest financial conglomerate in Central and Eastern Europe … Market share in Poland (31 Dec. 2024) Life protection (group 1) with a periodic premium 48.8% Life periodical premium 41.6% Motor 32.6% Non-life 32.5% 3 PZU Group Growth, profitability, dividend
Slide 4: Growth potential in key areas of operations
… with growth potential in key areas of operations Poland’s GDP in 2024-2027* (%, real change) Penetration of insurance in relation to GDP per capita in Europe (2023, EUR) High penetration zone GDP per capita (2023, in euro) 100,000 IE 80,000 NO IS DK 60,000 NL SE BE AT FI DE 40,000 FR CY IT CZ ES L
Slide 5: Driven by the principles of sustainable development
Driven by the principles of sustainable development … We monitor our progress on the road to sustainability. The ratings achieved in ESG ratings are a measurable result. 5 PZU Group Growth, profitability, dividend
Slide 6: Provides stability and security
… provides stability and security … Leading position in Unrivalled capital Poland strength #1 market position 226% in Poland Solvency II ratio1 One of the largest financial Largest distribution network groups in CEE and customer base PLN 503.3 bn assets 7.9 k agents PLN 39.6 bn market cap 22 m clien
Slide 7: Being a lifetime partner for its clients
The PZU Group wants to be a supplier of ...being a lifetime partner for its clients comprehensive solutions that will help clients lead a healthy life and sustainable business. The Group's strategic ambition is to develop ecosystems that will provide end-to-end solutions for both institutional and i
Slide 8: Consistently implemented strategy
Consistently implemented strategy… 1. Gross insurance revenues of PZU Group 2. Net profit attributable to the shareholders of the parent company 3. Adjusted return on equity (aROE %). Calculated on an equity basis excluding the cumulative effect of change in discount rates for valuation of insurance
Slide 9: Allow to achieve attractive financial results
.... allow to achieve attractive financial results … 9 PZU Group Growth, profitability, dividend
Slide 10: Delivering above-average returns to shareholders
… delivering above-average returns to shareholders 10 PZU Group Growth, profitability, dividend
Slide 11: Appendices
Appendices ● Business model 12 ● Digital transformation 16 ● Shareholder structure 18 ● Financial highlights 20 ● Capital position & profit distribution 26 ● History 29 ● Awards & distinctions 30
Slide 12: A diversified business model
A diversified business model ... PZU – parent company operating in non-life insurance (listed on the Warsaw Stock Exchange) INSURANCE main business activity 100% of shares in PZU Życie 100% of shares in TUWPZUW X Y BANKS 100% of shares in LINK4 32% of shares in Alior Bank 90-100% of shares in foreig
Slide 13: Insurance operations contributing most to the operating result
… with insurance operations contributing most to the operating result … 5.6% INSURANCE 54.8% ESTONIA INSURANCE LATVIA 39.3% LITHUANIA 0.3% BANKING INSURANCE POLAND UKRAINE Percentage share in the operating result (adjusted for PZU’s shares in banks in 2024) 13 PZU Group Growth, profitability, divide
Slide 14: Operations conducted in an ethical and responsible manner
.... and operations conducted in an ethical and responsible manner... 14 PZU Group Growth, profitability, dividend
Slide 15: Build value for the stakeholders of the PZU Group
… build value for the stakeholders of the PZU Group 15 PZU Group Growth, profitability, dividend
Slide 16: The PZU Group uses new technologies in all operating areas
The PZU Group uses new technologies in all operating areas… Digitalization and streamlining processes We continue to implement solutions for clients that are simple, intuitive and universal. As consumer trends are evolving, mobile solutions will play an ever more important role in interactions with
Slide 17: Active participant in the green energy transformation
… and is an active participant in the green energy transformation 17 PZU Group Growth, profitability, dividend
Slide 18: The State Treasury is PZU's main shareholder
The State Treasury of the Republic of Poland is PZU’s main shareholder … International 34.2% -0.5 p.p. State Treasury 34.2% 0.0 p.p. Poland 65.8% +0.5 p.p. Institutional investors 23.5% +1.2 p.p. Individual investors change 2024/2023 8.1% -0.7 p.p. The shareholder holding with the largest blocks of
Slide 19: PZU's shares are held by investors from all over the world
According to a survey carried out in 2024, PZU’s … however, PZU’s shares are held by investors from all shareholder structure was stable in terms of the breakdown of stakes and geographies. The largest over the world stakes, as in previous years, were held by investors Europe from Europe, with Polis
Slide 20: Financial highlights (in PLN m)
Financial highlights (in PLN m) Basic consolidated data1 of the Capital Group under IFRS 4 Basic consolidated data of the PZU Capital Group under IFRS 17 2019 2020 2021 2022 20223 20234 2024 A) PZU Group excluding Alior Bank and Bank Pekao A) PZU Group excluding Alior Bank and Bank Pekao Gross writt
Slide 21: Profitable growth in insurance
Profitable growth in insurance … Non-life insurance in Poland Insurance revenue for 2022–2024 / Gross Profitability (COR) written premium for 2020–2021 (PLN billion) 2024 17.8 17,8 2024 92.5% 2023 16.1 16,1 2023 85.3% 2022 14.4 14,4 2022 86.0% IFRS 17 IFRS 17 IFRS 4 2021 14.2 14,2 IFRS 4 2021 89.1%
Slide 22: Dynamic development of health business
… dynamic development of health business … PZU Zdrowie revenue (m PLN) 2024 807 1,083 1,890 2023 1,601 2022 1,272 2021 1,094 2020 895 Health care companies Health insurance and subscriptions Number of agreements (million) 3.5 3.4 3.2 3.0 2.8 2020 2021 2022 2023 2024 22 PZU Group Growth, profitabilit
Slide 23: Wide offer of savings & investment products
… wide offer of savings & investment products … Third Party Assets of TFI and OFE - PZU clients (bn PLN) 59.3 54.8 40.1 40.9 33.1 2020 2021 2022 2023 2024 Assets of Pekao TFI (bn PLN) and Alior TFI (bn PLN) 35.4 25.8 20.5 21.6 20.0 2020 2021 2022 2023 2024 23 PZU Group Growth, profitability, dividen
Slide 24: Potential in banking
… and potential in banking … Banking assets in the PZU Group (bn PLN) ROE (return on equity)* 428 26.3% 396 364 Bank Pekao Alior Bank 23.9% 334 25.0% 21.1% 312 11.3% 8.7% 5.1% 7.7% 7.6% -4.6% 2020 2021 2022 2023 2024 2020 2021 2022 2023 2024 *) based on reports and presentations of Bank Pekao and Al
Slide 25: PZU valuation versus European insurers
… allow to achieve above-average results … PZU valuation versus European insurers (2024) 4 P/BV Zurich 3 Helvetia 2 Allianz Munich RE The PZU Group's strategy assumes Aegon Generali Aviva AXA Prudential PZU (2024) achieving the net profit attributable to the 1 Mapfre VIG equity holders of the parent
Slide 26: Coupled with strong capital position
… coupled with strong capital position … Solvency II ratio for PZU Group vs peer group (as at 31.12.2024) Solvency II ratio for PZU Group 236% 221% 240% 229% 226% A – /Positive/ Financial strength rating and credit rating awarded to PZU by S&P Global Ratings 2020 2021 2022 2023 2024 *) data for Q3 2
Slide 27: Capital and dividend policy
… and consistently pursued the capital and dividend policy … Dividend policy Principal assumptions We will continue to be a dividend company Distribution of consolidated Allocation while generating an above average return on net profit of retained earnings equity. Capital possibly retained to cover
Slide 28: Generate an attractive dividend stream for our shareholders
… generate an attractive dividend stream for our shareholders PZU’s earnings and dividend per share in 2010-2025 * *) According to the recommendation of the PZU Management Board to the PZU General Meeting of May 6, 2025, the dividend per share from net profit for 2024 plus the amount transferred fro
Slide 29: History of the development of the PZU Group
History of the development of the PZU Group 29 PZU Group Growth, profitability, dividend
Slide 30: Selected awards and prizes for PZU in 2024
Selected awards and prizes for PZU in 2024 PZU: „Best Insurer in Poland”, PZU: in the 9th edition of the Grand Prize in the Employer Branding PZU: competition Institution Excellence Awards 2024 for: Employer Winner of the emblem and special award of the Year branding strategy for the IT division “Fr
Slide 31: Contact for investors
Contact for investors Magdalena Komaracka, CFA, Director of Management Consolidation mkomaracka@pzu.pl .pzu.pl/ir and Investor Relations Piotr Wiśniewski, IR Expert pwisniewski@pzu.pl .pzu.pl/ir PZU SA, rondo Ignacego Daszyńskiego 4, 00-843 Warsaw