In 2015, the total net amount of claims and benefits and increase in provisions of PZU Group amounted to PLN 11,857.1 million.
In relation to 2014, the value of claims together with the change of provisions was 2.7% higher. The following factors also contributed to the increase in the net value of claims and benefits:
- growth of the group protection insurance portfolio, including health insurance with increased claims ratio – higher mortality ratio confirmed by CSO data covering the entire population;
- higher claims ratio in motor insurance resulting from higher number of reported claims.
On the other hand, the following contributed to the decrease in the net value of claims and benefits:
- lowering of the technical and insurance provision level due to PZU Życie’s decision made as part of the annual process of establishing the rules for possible indexation of the sum insured by the clients in continued insurance concerning the modification of said rules from the start of 2016.
- lower growth in provision in individual unit-linked products in the banking channel as a result of a decreased sales volume and negative investment result;
- decrease in provisions for compensation claims for damage in previous years in general TPL insurance and damage caused by forces of nature in the corporate insurance segment.