Life insurance maintained its significant share in the national portfolio, of about 58%, and recorded an above average growth rate, of 10.6%, to PLN 27.18 billion. Yet, the trends recorded in the previous quarters reversed, the highest dynamics being this time recorded for the Unit-Linked products. As a result, the UL class increased its share in the market portfolio by 2pp, to ~19%, during the second and the third quarters of the year 2012., The most impressive performance in the life insurance field belongs, by far, to "Open Life TU ZYCIE", the youngest company of the EUROPA Group. Starting operation "from scratch" in 2011, the company reached in 3Q2012 GWP PLN 2.5 billion, a figure which is already higher than the 2 billion target announced for the full year 2012.
On the non-life side, GWP amounted to PLN 19.76 billion, showing a modest growth rate of 4.23% y-o-y. Except for Motor Hull and the financial risk insurance classes, all the other business lines recorded positive y-o-y changes in GWP, which may be described as "unspectacular". Only the GTPL and Travel insurance lines, both holding very small shares of the market portfolio, showed double digit growth rates. PZU remained the undisputed market leader, with a 32% market share and GWP of PLN 6.37 billion, 2.5% up y-o-y.
In terms of profitability, the Polish market closed the first nine months of 2012 with an aggregated net profit of PLN 5.5 billion and a technical result of PLN 3.44 billion.
Access www.xprimm.com and download the 3Q2012 Polish insurance market statistics.
Market portfolio (in EUR and PLN):
- Gross written premiums
- Paid claims
- Growth rates
- Life insurance ranking
- Non-life insurance ranking