The Italian Group, GENERALI, has entered into an agreement with the German Group Union Asset Management Holding AG to acquire a 100% stake in the Polish asset management company Union Investment TFI S.A., a move that will significantly strengthen GENERALI's presence in Poland.
The largest insurance market in the CEE, Poland, ended1H2018 with GWP worth EUR 7.36 billion (PLN 32.12 billion). In local currency, the y-o-y comparison shows a positive rate growth of 1.7%. Yet, given the roughly 3% depreciation of the Polish zloty against Euro, the market results denominated in European currency show a market decrease of 1.4%.
Unum Group completed its purchase of Pramerica Zycie TUiR SA ("Pramerica"), a financial protection provider in Poland that will support Unum's long-term growth strategy of protecting more people.
The full history of MTPL and Motor Hull insurance is now available online for every vehicle owner in Poland. In addition, all drivers - even if they are not the owners of the vehicle - can check their accidents history.
The Dutch insurance group NN announced that as of 15 September, Jacek KORONKIEWICZ, currently CFO and COO of Nationale-Nederlanden Poland, heading the functions of Finance, Operations and Procurement, will act as interim CEO.
A.M. Best has affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of "a-" of Polskie Towarzystwo Reasekuracji S.A. (POLISH Re) (Poland). The outlook of these Credit Ratings (ratings) remains stable.
Allianz was the most recommended life and property insurance brand in Poland in the first half of 2018, a research carried out by GfK showed. The company achieved the highest Net Promoter Score (NPS) values both in life and non-life insurance.
In Poland drivers are exempt from the obligation to carry a certificate of vehicle registration and insurance policy of civil liability. The new rule will take effect from 1 October 2018.
Polish insurers ended 1Q2018 with GWP worth PLN 16.25 billion (EUR 3.86 billion), approx. 2% up y-o-y, depending on the currency of choice. Paid claims amounted to PLN 10.5 billion (EUR 2.5 billion), a sum by about 0.7% larger y-o-y.
Austrian VIG said is acquiring 100% of the shares of Polish non-life insurer GOTHAER Towarzystwo Ubezpieczen (GOTHAER TU). The purchase agreement was signed on 6 June 2018. The purchase is subject to approval by the local authorities.
Poland's mandatory insurance policy premiums for vehicle owners and farmers might increase slightly following the government-proposed hike of the minimum liability coverage, Ministry of Finance wrote in an impact study to the draft bill.
Polish insurance market may witness a new round of increasing MTPL tariffs following a recent Supreme Court ruling, asking insurers to pay compensations for permanent disability not also to the victim, but also to his/hers close relatives.
Polish insurers ended 2017 with aggregated net profit of PLN 5.7 billion (EUR 1.37 billion), of which PLN 2.3 billion came from the life insurance segment and PLN 3.4 billion was the result of the non-life business.
Polish PZU Group ended 2017 with a record GWP volume, of PLN 22.8
billion (EUR 5.46 billion), 13.0% up y-o-y. The Group's consolidated net
profit also increased by 78.3% y-o-y to PLN 4.2 billion, despite the occurrence of large weather losses.
UNUM, a US-based financial protection benefits provider, has agreed to acquire Polish life insurer PRAMERICA Zycie TuiR from a subsidiary of financial services firm PRUDENTIAL FINANCIAL.
At the end of 3Q2017 the Polish insurance market totaled PLN 46.15 billion (EUR 10.70 billion), up by 13.37% y-o-y, as the financial indicators published by the Polish Financial Supervision Authority (KNF) show.