Annual Report 2025

Development based on AI and innovation

PZU has over 30 solutions with an AI component in place, and another 30 are in the pipeline, including: claims management optimization and a tool for transcribing and analyzing customer phone recordings.

PZU Ready for Startups

Over 90 pilot projects completed in 2025, including over 50 projects implemented, generating over PLN 250 million in benefits for PZU. These include monitoring cyber threats and extracting data from requests for proposals.

AI Assistant

The generative AI-based assistant is regularly used by over 50% of employees, generating 1.7 million prompts in 2025. Adoption is supported by 83 AI Ambassadors.

Year 2025
Results
Business

Amidst growing technological pressures, increasingly fierce competition, tightening regulations, and rising customer expectations, we have demonstrated our resilience, flexibility, and ability to operate effectively. At the same time, we have achieved record financial results.

Bogdan Benczak President of the Management Board of PZU SA

Year 2025
Results
Business

Gross insurance revenues exceeded PLN 30 billion for the first time in the Group's history. Net profit attributable to owners of the parent company in 2025 increased by 25.4% year-on-year to a record PLN 6.7 billion. Return on equity (ROE) on core operations was 21% (an increase of 4.7 percentage points).

Bogdan Benczak President of the Management Board of PZU SA

Year 2025
Results
Business

We modernized tariffs, streamlined claims settlement processes, and developed partnerships with specialized repair shops. Strong competitive pressure meant that rebuilding our position in the third-party liability insurance segment remained a key challenge, requiring intensified market efforts.

Bogdan Benczak President of the Management Board of PZU SA

21.0

ROE core business.

3.8

dividend paid

Gross insurance revenue
(PLN billion)

PZU’s net profit attributable to the parent company’s owners (PLN billion)

EPS – earnings per share (PLN)

P/BV (market share price / book value per share)

26,593

Gross greenhouse gas emissions Scope 1 (t of CO2e)

78,866

Gross greenhouse gas emissions Scope 2 - location-based (t of CO2e)

29,769,297

Total greenhouse gas emissions for Scope 3 - cat. 15 (t of CO2e)

215.40

MWh/ million PLN

Energy intensity per net revenue

25.5

Average number of training hours - men

29.8

Average number of training hours - women

Strategic priorities and their implementation

In 2025, we launched measures to strengthen all business pillars

We are building an edge in mass non-life insurance through improvement at all levels of the operating model

Modernization of sales systems

Launching efforts to replace the multiple sales path model with a single modern sales front for the Agent

We are building an edge in mass non-life insurance through improvement at all levels of the operating model

Optimization of tariffs and underwriting

Start of tarification
transformation: separation of
modeling and portfolio management, strengthening of DS team,
development of ML models, migration of analytics to the cloud, and
implementation of MLOps and open source technologies; Launched AI
implementation in underwriting

We are building an edge in mass non-life insurance through improvement at all levels of the operating model

Development of product portfolio

The PZU Dom has been updated, introducing a single comprehensive
coverage; the PZU Rowerzysta offer has been launched, providing NNW and assistance coverage with the option to extend it to bike casco, TPL, child accident insurance and luggage insurance

We are building an edge in mass non-life insurance through improvement at all levels of the operating model

Effectiveness in claims handling

Activities have been targeted at business transformation of the claims handling area
by modernizing the claims handling system and improving insurance
fraud detection

We offered customers new life insurance products and expanded access to our offerings through partners

Riders to individual insurance

Riders have been updated and introduced for customers with individual life insurance: 1. in case of serious illnesses in the extended version (up to PLN 1 m); 2. medical treatment abroad (up to EUR 2 m)

We offered customers new life insurance products and expanded access to our offerings through partners

Group insurance

A group insurance pilot was
conducted with the sum insured calculated as a multiple of the salary

We offered customers new life insurance products and expanded access to our offerings through partners

Integrated insurance

In cooperation with LOT and Chubb, a new version of insurance has been launched “PZU Pomoc w Podróży LOT”, available when buying a ticket on lot.com

We offered customers new life insurance products and expanded access to our offerings through partners

Standalone insurance in bancassurance offering

Property insurance has been
introduced – PZU Domfor mortgages, as well as standalone for Bank Pekao
customers; This is the bank's third product under this model, along with TPL/MODand “Bezpiecznej podróży”

We have expanded our offerings to companies through underwriting and digitization, we are developing initiatives in foreign companies and foreign inward reinsurance

Insurance guarantees

The Small Guarantees program has been launched, allowing companies with revenues up to PLN 5 m,,including those on a flat-rate tax scheme, to obtain
insurance guarantees

We have expanded our offerings to companies through underwriting and digitization, we are developing initiatives in foreign companies and foreign inward reinsurance

Digital solutions for businesses and brokers

The mojaFirma.pzu.plplatform has been expanded with TPL insurance for drone operators; This is the fourth functionality made available to companies and brokers after the Cargo Platform, PZU Cyber and the D&O quoting module; AI solutions have been implemented with automatic analysis of quote requests

We have expanded our offerings to companies through underwriting and digitization, we are developing initiatives in foreign companies and foreign inward reinsurance

Foreign companies

In Lithuania, the functionalities of self
service portal in claims handling have been developed, in Latvia new demand modules and rates in tariffs have been
implemented, in Estonia, automatic quotations addedfor clients that are
logged in, in Ukraine the online sales of motor and travel insurance launched

We have expanded our offerings to companies through underwriting and digitization, we are developing initiatives in foreign companies and foreign inward reinsurance

Foreign inward reinsurance

A dedicated team was
established, target markets were selected and new inward foreign reinsurance contracts were
signed outside the PZU Group