EN
PL
The entities from PZU Group are parties in a number of court and arbitration disputes as well as administrative proceedings. The typical court disputes are those related to insurance contracts, employment contracts, and contractual obligations. The typical administrative proceedings involving PZU Group entities are those related to owned property. The proceedings and disputes are typical and repetitive, and in most cases none of them is significant for PZU Group.
Most disputes involving PZU Group entities pertain to three companies: PZU, PZU Życie and Alior Bank. In addition, PZU and PZU Życie participate in proceedings before the President of the Office of Competition and Consumer Protection (OCCP).
PZU and PZU Życie consider such claims when creating technical provisions for reported damages, considering the probability of an unfavorable decision of the court and estimating the value of probable settlement. Disputable claims regarding revaluation of annuities at PZU Życie are recognized in other technical provisions in the amount of annual annuity in excess of the corresponding provision amount as determined in mathematical provisions for life insurance.
In 2016 and by the date of submission of the consolidated financial statements, PZU Group entities did not take part in any proceedings before court, competent authority for arbitration proceedings or public administration authority concerning liabilities or debt of PZU or its direct or indirect subsidiary of singular value amounting to at least 10% of the PZU equity.
As at 31 December 2016, the total value of all 134,769 cases (as at 31 December 2015: 121,918) heard by courts, competent authority for arbitration proceedings or public administration authority involving the PZU Group entities amounted to PLN 4,357 million (as at 31 December 2015: PLN 4,898 million). The amount includes PLN 3,374 million (as at 31 December 2015: PLN 3,131 million) of liabilities, while PLN 983 million (as at 31 December 2015: PLN 1,767 million) relates to debt of PZU Group entities, which amounted to 27.62% and 8.04% (as at 31 December 2015, respectively: 25.29% and 14.28%) of equity of PZU in accordance with PAS.
All information available at the date of signing the consolidated financial statements has been taken into account regarding estimations of provisions, however that value may be subject to change in the future.
Section contains:
48.1 Resolution of the General Meeting of Shareholders of PZU regarding 2006 profit distribution
48.2 Other demands for payment concerning the distribution of profit of PZU for 2006
48.3 Other legal proceedings concerning the distribution of profit of PZU for 2006
48.6 Submission of PZU claims to the insolvency estate of PBG Capital Group companies
