PZU’s management is based on corporate governance principles stemming from both legal regulations and market standards (Best Practice for GPW Listed Companies 2021, Corporate Governance Rules for Regulated Institutions), along with internal corporate regulations. These principles are designed to ensure transparency in operations, financial stability and stakeholder security, and the effective operation of the Group.
- The Supervisory Board has ongoing oversight of PZU’s day-to-day operations and development, including overseeing sustainability issues. The Board adopts Regulations which define, among other things, the organization and work procedures of the Board.
- The Management Board of PZU manages the Company’s affairs and coordinates the Group’s operations, acting in accordance with the law, the Articles of Association and internal regulations, including the Regulations of the Management Board of PZU, which define the principles of work and division of powers within the executive body.
- The General Meeting of Shareholders acts on the basis of the provisions of the Commercial Company Code (CCC) and the Articles of Association of PZU, adopting resolutions on, among other things, the approval of reports, profit distribution and changes in corporate bodies.
The rules of operation of the PZU and the division of competencies of the organizational units are defined in the Organizational Regulations, which form the basis of the Company’s internal structure. This structure is comprised of the following levels:
- Headquarters – acts as a planning and support center for the Management Board and is responsible for coordinating management within the Company and the entire PZU Group. Among other things, the Headquarters’ units deal with: setting business goals, defining and implementing strategies, setting standards of operation, coordinating cooperation between Group entities, building image and corporate culture standards, and coordinating shared services in the PZU Group;
- specialized units responsible for, among other things: handling claims and entitlements, assistance, customer service, insurance operations, insurance accounting, employee operations, analysis and reporting;
- field structure, including units responsible for sales and customer service, including macroregions, regions, and branches of PZU.
Functionally, the structure consists of divisions. Divisions are responsible for carrying out business functions in one or more related areas of the company’s operations. They include organizational units operating at all levels – at Headquarters, specialized units and in the field structure – ensuring consistent, functional management of processes throughout the organization. Business divisions: investments, individual and SME product management, PZU branch network management, exclusive sales, multi-agency sales, dealer programs, corporate sales (including brokerage), management of cooperation with banks and strategic partners, handling of claims and entitlements, and remote channels.
Support divisions: corporate management and governance in the PZU Group, corporate relations and communications, sponsorship, prevention, HR, finance, insurance operations, IT and cyber security, CRM, eCommerce, digital processes and services, customer relationship and customer experience management, administration, real estate and procurement.
Each division is headed by a designated Member of the Management Board, PZU Group Director or Managing Director, who are responsible for setting goals, overseeing their implementation, human resources policy and approving the division’s action plans and budget. The divisions are characterized by the cooccurrence of service and functional dependencies, which allows for effective coordination of operational and strategic activities within the assigned areas.
The PZU Group operates as a financial conglomerate, with PZU acting as the leading entity. Cooperation with subsidiaries is based on agreements defining the principles of information exchange, ownership supervision and uniform management standards. The key is the cooperation of PZU and PZU Życie, which have similar management models and work together in the areas of strategy, risk, and operational support, among others.
It is the practice in the PZU Group to have PZU and PZU Życie representatives on the supervisory boards of subsidiaries. This ensures uniform management standards and consistency of operations within the Group. The solution supports process integration and oversight of key entities, including Pekao and Alior Bank, PZU TFI, PZU Zdrowie and other operating companies.
The Group has a comprehensive risk management and internal control system in place, including a risk management function, compliance function, internal audit function, underwriting function and mechanisms to ensure compliance with regulations and supervisory standards. This system strengthens the consistency and efficiency of operational and supervisory processes.
PZU oversees the risk management system at the Group level on the basis of cooperation agreements with its subsidiaries, enabling the acquisition of information necessary to assess and aggregate risks and meet capital requirements. This ensures the application of uniform risk management standards while taking into account applicable regulations.
This model supports the implementation of the PZU Group’s strategic goals and ensures that the entire Group operates consistently, efficiently and in compliance with regulations.
In 2025, no changes were made to the existing management principles of PZU or the PZU Group, and the applicable regulations operated unchanged.
