POLAND: UFG: Almost PLN 5 billion paid for motor insurance in the first quarter

21 May 2024 — Marina MAGNAVAL
Over PLN 4.9 billion (~EUR 1.14 billion) was paid out by motor insurers in the first three months of this year under motor insurance policies.

This is about PLN 900 million more than a year earlier, Gazeta Ubezpieczeniowa (Insurance Gazette) wrote with a reference to data reported to the Information Center of the Insurance Guarantee Fund (UFG).

In 1Q2024 the number of reported damages in motor insurance was 9% more y-o-y. An even greater increase of 22.5% was observed in the amount paid. According to the information provided by insurers to UFG, from January to March 2024, they paid out over PLN 4.9 million.

The largest part was paid for MTPL– PLN 2.82 billion, of which PLN 2.42 billion was paid for moral damages and PLN 398.4 million for personal damages. The total MoD payments reached PLN 2.1 billion (vs just over PLN 4 billion a year earlier, including PLN 2.3 billion for MTPL and PLN 1.7 billion for MoD).

*EUR 1 = PLN 4.30 (31.03.2024)