POLAND: the insurers record another MTPL price reduction

5 July 2023 — Marina MAGNAVAL
In Poland insurers recorded another MTPL price reduction by the end of the first half of 2023. The average insurance premium decreased by 4.2% y-o-y and amounted to PLN 502 (~EUR 113), Gazeta Ubezpieczeniowa wrote based on the Rankomat data.

However, it is worth noting that in Q2 experts noted price increases throughout the market. Compared to the first quarter of 2023, the average premium increased by 5.3% in Q2, indicating a trend reversal.

"Over the last three months, the average third-party liability premium increased by 5.3% compared to the first quarter of 2023. This is the first significant increase in the average price of compulsory insurance since 2017. The first quarter of this year could therefore be the last period in which car owners enjoyed low policy prices", commented Tomasz Masajlo, President of the Management Board of Rankomat.

Data of Rankomat

*EUR 1 = PLN 4.44 (01.07.2023)