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Poland 1Q2020 Market Portfolio
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POLAND: KNF gives consent for UNIQA to take over Polish branches of AXA
During its meeting on September 17, 2020, the Polish Financial Supervision Authority approved the acquisition of AXA businesses from Poland by UNIQA Group.
28 September 2020POLAND: PZU launches civil liability insurance product for cyclists and scooter users
PZU announced a new product that will cover the damages caused by the holders of motor third party liability insurance also while driving a personal transport device - in short the UTO. This includes bicycles, segways and scooters which are becoming more and more popular in Poland.
24 September 2020POLAND: PZU Auto Ochrony Prawna, a new service for fleet and leasing customers
PZU Group announced that from mid-September, PZU Auto has an additional variant of Legal Protection insurance. Thanks to it, drivers get quick and easy access to legal services in Poland and Europe.
24 September 2020POLAND: Gefion's MTPL contracts remain valid, KNF announces
Financial Supervision Authority of Poland announced that motor third party liability insurance contracts concluded or renewed until March 24, 2020 remain valid, and Gefion is obliged to consider reported claims and pay due compensation.
3 September 2020XPRIMM TIME FOR BUSINESS How did the Polish market cope with Covid crisis' challenges and what are the expectations for the future?
"At this point we do not see a strong effect yet on the financial figures of the insurance companies, but this is mainly due to the long-term nature of the business", Iwona SZCZESNA, the Head of the PIU (Polish Chamber of Insurance) Brussels Office stated at the microphone of the XTB show aired on 2 September. She added that "usually people buy insurance for the whole year, so we will see the impact on the financial figures in three to six months from now."
3 September 2020POLAND: VIG and C-Quadrat establish joint venture to offer asset management services
C-Quadrat Investment and the Polish insurance companies of Vienna Insurance Group have founded "VIG C-Quadrat", a joint venture located in Warsaw.
13 August 2020STATISTICS: POLAND, 1Q2020: Insurance market grew 2.4% y-o-y
Insurance companies in Poland underwrote gross premiums of PLN 16.74 billion (EUR 3.68 million*) in the first three months of 2020, up 2.4% year-over-year, the country's Financial Supervisory Authority (KNF) said in a report.
6 August 2020POLAND: Strategic cooperation of GENERALI with 4Life Direct
GENERALI CEE Holding announced a strategic two-fold cooperation with 4Life Direct in Poland: "4Life Direct becomes the agent of GENERALI in Poland and further, the cooperation includes a proposal for holders of over eighty thousand Polish policies from the company's partner from Gibraltar - to come under the wings of the Venetian lion".
30 July 2020PZU implemented mObywat to authenticate users of mojePZU platform
PZU is the first company in Poland implementing in cooperation with the Ministry of Digital Affairs an innovative solution for authenticating the user of the mojePZU (myPZU) platform. As a result, the use of PZU products will become even faster and more convenient.
23 July 2020The Polish KNF gets higher authority in relation with the foreign insurers operating on the principle of a single license
On 2nd of July 2020 the Act of 28 May 2020 amending the Act on compulsory insurance, the Insurance Guarantee Fund and the Polish Motor Insurers' Bureau as well as the Act on insurance and reinsurance activity was published, beinsured portal reported. The new regulations introduce new rules for the supervision of foreign insurers.
16 July 2020POLAND: Tomasz Borowski named president of Vienna Life
During the last meeting, the supervisory board of Vienna Life accepted the resignation of Pawel Ziemba, chairman of the board, and Witold Czechowski, a member of the board, from performing his current functions with effect as of September 30, 2020. Tomasz Borowski will be the new president of the board.
7 July 2020The Polish Financial Supervision Authority joins #Fakehunter project, to prevent public disinformation
The Polish Financial Supervision Authority has partnered with #Fakehunter, the project created by the Polish Press Agency and GovTech Polska to fight disinformation. Whilst the project started as a tool to prevent the spread of fake news in relation to the Covid-19 issues, its creators have decided to expand it to include financial issues.
2 July 2020Maciej FEDYNA to become new President of the Management Board and CEO of GENERALI in Poland
GENERALI announced that Maciej FEDYNA was nominated new President of the Management Board and CEO of GENERALI Poland companies as of 1 July 2020. Maciej FEDYNA, former Chief Financial Officer of GENERALI Poland, will succeed Andrea SIMONCELLI who was appointed as new Chairman of the Supervisory Boards of GENERALI T.U. S.A., GENERALI Zycie T.U. S.A and GENERALI Finance Sp. z o.o.
29 June 2020POLAND: Number of accidents caused by Polish vehicles decreased after 6 years of consecutive growth
For the first time in the past 6 years, the number of accidents due to the guilt of Polish drivers on foreign roads has started to decrease. At the end of 2019, for 12 months ended, Polish motorists caused 73 thousand accidents, 3% less when compared to over 75 thousand events during 2018. Traditionally, most of the accidents caused by Polish drivers happened on the roads of Germany, France, Italy, Great Britain and the Netherlands. Drivers of vehicles with Polish license plates cause 200 events per day on foreign roads.
18 June 2020PZU Group, 1Q2020: Consolidated net result reached PLN 116 million
PZU Group ended the first quarter of 2020 with a consolidated net result of PLN 116 million, 84.5% lower year-on-year. The net profit registered by the group excluding Alior Bank and Pekao reached PLN 577 million (-13.3%).
29 May 2020TUW PZUW is the mutual insurance market leader in Poland, with record results in 2019
TUW PZUW, the mutual insurer established by the PZU Group in 2016, ended 2019 with written premiums worth PLN 690 million while doubling its net profit and technical result as compared with 2018 and reaching a 31% market share on the mutual insurance market in Poland.
21 May 2020PZU's Supervisory Board positively evaluated the Management Board's motion on the distribution of group's net profit for the year ended
Polish insurer PZU informed the the Supervisory Board positively evaluated the group's Management Board's motion to PZU's Ordinary Shareholder Meeting on the distribution of PZU's net profit for the year ended 31 December 2019.
4 May 2020S&P changed the rating outlook of PZU from "Positive" to "Stable" due to the outbreak of the pandemic
Polish insurance group PZU (Powszechny Zaklad Ubezpieczen Spolka Akcyjna informed that on 6 April 2020 S&P Global Ratings changed the insurer' rating outlook from "Positive" to "Stable". At the same time, the agency affirmed PZU SA's financial strength rating at an unchanged level of "A-".
8 April 2020POLAND: Despite being the largest CEE market, Polish insurance market potential remains huge
Despite that the Polish insurance market is the largest in CEE Region, it is still a market with huge potential, according to Roger HODGKISS, member of the top management team of GENERALI Poland being responsible for the P&C sales network and marketing of GENERALI and PROAMA.
6 April 2020POLAND: Insurers respond to Financial Ombudsman's call for solutions in relation to COVID-19
In a letter issued on March 25th, PIU - the Polish Chamber of Insurance responded to the Financial Ombudsman's proposal of solutions aimed at supporting policyholders. In PIU's opinion, any hasty actions that directly affect the solvency of companies, in the event of a long and deep crisis, will harm the interests of victims and the stability of the insurance market.
2 April 2020
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