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PZU Group’s entities provide services in life insurance, non-life insurance, health insurance and asset management for clients within OPFs and investment funds, as well as banking services, thanks to the investment in Alior Bank.
PZU Group conducts various activities in the area of insurance and finance. In particular, PZU Group’s entities provide services in life insurance, non-life insurance, health insurance and asset management for clients within OPFs and investment funds, as well as banking services, thanks to the investment in Alior Bank.
Structure of PZU Capital Group (as at 31 December 2016)
* Armatura Group included the following entities: Armatura Kraków SA, Armatoora SA, Aquaform SA, Aquaform Badprodukte GmbH, Aquaform Ukraine TOW, Aquaform Romania SRL, Morehome.pl sp. z o.o.
** Centrum Medyczne Medica Group includes the following entities: Centrum Medyczne Medica Sp. z o.o., Sanatorium Uzdrowiskowe „Krystynka” Sp. z o.o. i Rezo-Medica sp. z o.o.
*** Alior Bank Group includes the following entities: Alior Bank SA, Alior Services sp. z o.o. , Centrum Obrotu Wierzytelnościami sp. z o.o., Alior Leasing sp. z o.o., Meritum Services ICB SA , Money Makers TFI SA , New Commerce Services sp. z o.o., Absource Sp. z o. o.
**** within PZU Zdrowie 2 branches are operating: CM Nasze Zdrowie in Warsaw and CM Cordis in Poznan. The structure does not cover investment funds and entities in liquidation.
Through its representatives in the supervisory bodies of the companies and voting during General Shareholders’ Meetings, PZU – as the parent company – influences defining strategic directions regarding both the scope of activities and the finances of the entities making up PZU Group. The companies provide mutual services both under market conditions and based on the internal cost allocation model (in the scope of the Tax Capital Group) due to the expertise of selected companies and by taking advantage of the Tax Capital Group.
The following changes took place in the structure of PZU Group in 2016 and until the release of this report:
- On 8 December 2016, PZU and PFR concluded an agreement with UniCredit S.p.A. to purchase 32.8% of Bank Pekao S.A. shares for the total amount of PLN 10.6 billion. The purchase price per share amounts to PLN 123. It is one of the largest transactions performed in the banking sector in Europe in the recent years. See more
- On 11 March 2016, as part of the engagement in the banking sector, the acquisition of the third tranche of Alior Bank shares was settled. As a result of the transaction, PZU held directly 25.2% of the shares in the share capital of Alior Bank, while indirectly – through PZU Życie and controlled investment funds – it held 4.2% of the shares in the share capital of Alior Bank. In addition, 16,525,801 Series I shares of Alior Bank were taken up in a closed subscription performed through the public offer in observance of the pre-emptive right on the account of the existing shareholders of the bank. See more
- On 31 March 2016, Alior Bank signed with GE Investment Poland Sp. z o.o., DRB Holdings B.V. and Selective American Financial Enterprises LLC the sale of shares and division agreement, which concerned the acquisition of the core activity of Bank BPH. The transaction was financed by the public issue of new Alior Bank shares in observance of the pre-emptive right. A legal merger of Alior Bank with a separated part of Bank BPH took place on 4 November 2016. See more
- PZU Zdrowie purchased shares in the following medical companies: CM Cordis (2016), Polmedic Sp. z o.o. (2016), and it indirectly became the owner of Specjalistyczna Przychodnia Medycyny Pracy, Artimed (2016). Moreover, in 2016, the merger of Nasze Zdrowie Sp. z o.o. and Centrum Medyczne Cordis Sp. z o.o. with PZU Zdrowie took place. See more
- On 16 June 2016, Armatura Kraków sold all shares of Armatura Tower Sp. z o.o. to Pawo Borek Sp. z o.o. This company is no longer an Armatura Group company. See more
