33.2 Financial assets held to maturity

Financial assets held to maturity include non-derivative financial assets with fixed or determinable payments and fixed maturity that were purchased by the PZU Group with the positive intention and ability to hold to maturity.

Financial assets held to maturity are measured at amortized cost and the measurement results are recognized under “Net investment income”.

Information on the rules for recognizing impairment losses is presented in section 33.6.2.

Due to a change in the purpose of use of certain assets, from 1 January 2015 some of the assets were reclassified from assets available for sale to assets held to maturity. The carrying amount of the assets at the time of reclassification was PLN 84 million. The carrying amount as at 31 December 2017 is PLN 79 million.

The transfer described above was the sole reclassification of financial instruments from groups carried at fair value to groups carried at cost or amortized cost effected in years 2015-2017.