POLAND: insurance brokers have mediated GWP of EUR 1.7 billion in 2017

The total number of insurance brokers licensed in Poland at the end of 2017 was of 1,416. Throughout the year, 34 deletions from the register of insurance brokers were made, a Polish Financial Supervision Authority's Report on the condition of the brokerage market in 2017 shows.

In 2017, brokers have cashed intermediation fees amounting to PLN 1.2 billion (~EUR 287.8 million), an increase of 6% y-o-y, while the volume of mediated premiums amounted to PLN 7.1 billion (~EUR 1.7 billion), corresponding to an intermediation rate of about 11.3%. The average intermediation fee was of 15%.

The insurers that have benefitted the most from the brokers' mediation services were: PZU (mediated GWP worth PLN 1.9 billion), PZU Zycie (PLN 1.6 billion), Ergo Hestia (PLN 884 million), Warta (PLN 649 million), Uniqa (PLN 262 million). About 88% of the premiums mediated by brokers were placed with domestic insurance companies, while the remaining 12% were intermediated for foreign insurers operating in Poland on FOS and FOE.

The full report, in Polish, is available here

https://www.knf.gov.pl/knf/pl/komponenty/img/Sprawozdanie_z_dzialanosci_brokerskiej_2017_64003.pdf

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