Poland
STATISTICS: POLAND, FY2023: double digit growth rates on almost all insurance lines
Polish insurers wrote gross premiums worth EUR 18.14 billion in 2023, 17.6% up y-o-y. With a few exceptions, all business lines saw double-digit growth rates. Paid claims reached EUR 10.17 billion, 7.5% more than in 2022.
25 April 2024POLAND: Bancassurance returns to growth
After a decline in the value of insurance sales in the banking channel recorded in 2022, last year there was several percent increase in bancassurance due to improved results from the distribution of policies by banks in both sectors, Gazeta Ubezpieczeniowa (Insurance Gazette) wrote.
23 April 2024POLAND: the Aegon, Compensa Życie and Vienna Life merger will give birth to a one of the largest life insurers
The new company resulting after the Aegon, Compensa Życie and Vienna Life merger planned for Q4 2024, will operate under the name Vienna Life. While preserving the name of one of the merging companies, the new market entity will go through a complex rebranding operation.
11 April 2024POLAND: MTPL insurers record a technical loss for the first time since 2016
Due to the still low rates in TPL, the Polish motor segment recorded another decline in the technical result in 2023. Total motor insurance GWP amounted to EUR 6.5 billion, 8.5% up y-o-y. While GWP growth on the MoD line was of about 14%, on the MTPL class premiums went up by only 1.7% y-o-y.
11 April 2024POLAND: PZU wins the "Best Insurer in Poland"
At the 9th edition of the Institution of the Year project PZU won the title of the "Best Insurer in Poland" for another year in a row.
25 March 2024POLAND: in 2023 the insurers received the most motor insurance claims in May and October
In 2023, there were just over 1.7 million claims on MTPL and MoD insurance. The most dangerous months turned out to be May and October, while the most dangerous days of the week were Mondays and Fridays - according to data from the Insurance Guarantee Fund (UFG), Gazeta Ubezpieczeniowa (Insurance Gazette) wrote.
26 February 2024Polish car owners more interested to comprehensively insure their vehicles
The number of MoD active policies in the Polish market amounted to 7.3 million units by the end of Q42023, which 4% more y-o-y, data from the Insurance Guarantee Fund show.
21 February 2024Polish WDB and Brokers Union merge under the PIB Broker brand
The Polish brokerage companies WDB and Brokers Union, which merge and further operate under the PIB Broker brand. The new entity is part of the international team of PIB Group, one of the largest insurance intermediation groups in Europe, operating in 9 countries, generating revenues in excess of GBP 350 million from specialist insurance, Gazeta Ubezpieczeniowa wrote.
7 February 2024POLAND: Car Insurance Day on 1st of February
According to PIU data, at the end of Q3 2023, the number of active mandatory MTPL policies exceeded 27.7 million in Poland, while the number of settled claims reached 826 thousand, with an average claim amount of about PLN 9.5 thousand.
31 January 2024POLAND: ERGO Hestia among the best employers in Poland
ERGO Hestia is among the best employers in Poland for the third year in a row. The insurer received the prestigious Top Employer Polska 2024 award, the company said in its statement.
23 January 2024POLAND: The number of people covered by private health insurance is close to 5 million
By the end of September 2023, the number of customers covered by private health insurance continued to grow reaching almost 4.7 million, despite the inflation-driven increase in the prices, Gazeta Ubezpieczeniowa (Insurance Gazette) wrote.
10 January 2024STATISTICS: Polish insurers' 3Q 2023 business expanded to EUR 12.5 billion
The largest CEE insurance market posted aggregate 3Q2023 GWP worth PLN 57.7 billion (EUR 12.5 billion), up by 9.4% y-o-y according to the quarterly statistics published by Polish KNF (Financial Supervision Authority). At the same time, claims and benefits paid by local insurers decreased by ~1.6% y-o-y to PLN 33 billion or EUR 7.1 billion.
18 December 2023POLAND: The third quarter was the most expensive period for motor insurers
During 9M2023, insurers operating in Poland paid a total of PLN 12.07 billion (~EUR 2.61 billion) on MTPL and motor insurance. This is PLN 1.2 billion more than a year ago, when companies paid out PLN 10.83 billion, the Insurance Guarantee Fund reported in the latest Information Bulletin of the UFG Information Center, Gazeta Ubezpieczeniowa (Insurance Gazette) wrote.
5 December 2023POLAND: According to the half-year data, bancassurance is slowly emerging from depression
Last year an increase in life bancassurance sales through banks was observed, while non-life bancassurance has still not returned to growth.
22 November 2023POLAND: Nearly one million cars insured for the first time in 2023
Data collected by the Samar Automotive Market Research Institute (IBRM) shows that during the first three quarters of 2023, 992,552 passenger cars and commercial vehicles with a total permissible weight of up to 3.5 tons were registered for the first time, Gazeta Ubezpieczeniowa writes.
13 November 2023POLAND: EMIS: The Polish insurance market remains the largest in CEE
The Polish insurance market remains the largest in Central and Eastern Europe. However, the penetration rate is 2.2%, ranking Poland 53rd in the world, according to Swiss Re, as EMIS (ISI Emerging Markets Group) analysts noted in the "Poland Insurance Sector Report 2023-2024", Gazeta Ubezpieczeniowa writes.
6 November 2023POLAND: TUW PZUW wins the Insurance Stars ranking
TUW PZUW (Polski Zakład Ubezpieczen Wzajemnych) won the Insurance Stars ranking. The award was given at an event organized by the editorial office of "Dziennik Gazeta Prawna". The company ranked first among all insurance companies in Poland and among mutual insurance companies, Gazeta Ubezpieczeniowa reports.
4 October 2023STATISTICS: Poland: Insurers’ half year profits increased to ~EUR 1.3 billion
Polish insurance market reported 1H2023 aggregate GWP worth PLN 40 billion (EUR 8.8 billion), 10% more y-o-y according to the quarterly statistics published by Polish KNF (Financial Supervision Authority).
27 September 2023POLAND: VIG to merge its Polish companies
Vienna Insurance Group is consolidating its operations on the Polish market, which means that instead of the current six insurance companies, only three will operate. The aim is to make greater use of the Polish market potential as one of the key markets for the group, and to strengthen competitive position, Gazeta Ubezpieczeniowa wrote.
25 September 2023POLAND: Warta: corporate insurance demonstrates high dynamics in the first half of the year
In the first half of the year, the dynamics of premium collection in corporate insurance reached 112%, which, compared with inflation, means at most maintaining the market at a very stable level, according to Warta's estimates, Gazeta Ubezpieczeniowa wrote.
6 September 2023
