STATISTICS: POLAND, FY2017: motor insurance lines account for 60% of the non-life GWP and over 67% of the paid claims

Polish insurers ended 2017 with aggregated net profit of PLN 5.7 billion (EUR 1.37 billion), of which PLN 2.3 billion came from the life insurance segment and PLN 3.4 billion was the result of the non-life business.

Yet, is worth noting that of the total net profit recorded by the non-life insurers, more than 40% is a dividend from PZU Zycie SA to PZU SA, already included in last year's net profit of life insurers, as a press release of the Polish Insurance Association stated. Income tax due from Polish insurers for 2017 amounted to PLN 1.2 billion, while the total tax on assets was of approx. PLN 600 million.

Gross Written Premium amounted to PLN 62.35 billion (EUR 14.95 billion), 11.33% up y-o-y (nominal, local currency). Of the total amount, life insurance GWP accounted for almost 40%, the segment's share decreasing by about 22pp y-o-y, due to a lower than average growth rate (2.95%).

In 2017, Polish insurers paid out PLN 39.8 billion (EUR 9.55 billion) in claims and benefits to injured parties and clients, which is 8.6% more than a year earlier. Non-life claims accounted for PLN 19.5 billion, motor insurance lines being responsible for 67% of this total figure. On the other side, paid claims for the "fire and allied perils" class went up by 29%, mostly because of the compensation payments for elemental victims from the second half of 2017

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