The first quarter of 2014 ended for the Polish insurance market with results similar to those recorded for the entire year 2013. Thus, GWP in 1Q2014 amounted to EUR 3.35 billion, 6.8% down y-o-y, a negative trend driven by the almost 14% fall in the GWP for life insurance. On the non-life insurance segment, premium production recorded a quasi-stable evolution, with an overall growth in GWP of 1.35%.Insurers' expenses with the claims paid in 1Q2014 recorded a visible decrease: the overall amount of claims paid amounted to EUR 2.2 billion, about 7% down y-o-y, with an 11% decrease on the life insurance segment and a 0.6% growth for the non-life insurance lines.
Among the non-life insurance lines, motor insurance recorded the worst dynamic. Thus, while GWP decreased both on the Motor Hull and the MTPL lines (by 0.4% and 6% respectively), claims paid increased overall by almost 3%, mostly because of the 4.3% increase in claims paid for MTPL contracts.
Access www.xprimm.com and download the 1Q2014 Polish insurance market statistics.
Market portfolio (in EUR and PLN):
- Gross written premiums
- Paid claims
- Growth rates
- Life insurance ranking
- Non-life insurance ranking
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