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Poland 3Q2022 Market Portfolio
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POLAND: Ministry of Agriculture and Rural Development: goal for 2022 for the crop area insurance was achieved
Last year 219,677 agricultural producers (31,246 more than in 2021) concluded insurance contracts for insurance of crops or livestock with a subsidy from the state budget, said Ryszard Bartosik, Secretary of State at the Ministry of Agriculture and Rural Development, Gazeta Ubezpieczeniowa wrote.
9 March 2023POLAND: Share-related assets of insurers shrank by nearly PLN 10 billion in 2022
According to the data of the Analizy.pl website, at the end of 2022, the value of assets accumulated in insurance capital amounted to PLN 36.99 billion (~EUR 7.87 billion), which is PLN 9.4 billion (20%) less y-o-y. The source noted that since its peak in 2017, share-related assets have already shrunk by more than a third, Gazeta Ubezpieczeniowa reports.
28 February 2023POLAND: Acrisure Re partners with Polish Smartt Re to access the CEE reinsurance facultative business
Acrisure Re, the (re)insurance division of top-10 global insurance broker and fintech platform Acrisure, announced that its Facultative team has signed a preferred partnership broker agreement with Polish Smartt Re specifically for Central Eastern European (CEE) Facultative business, effective immediately.
2 February 2023POLAND: Rankomat: the insurance market ended 2022 with the largest reduction in the average MTPL premium in five years
According to Rankomat, the insurance market ended 2022 with the largest reduction in the average MTPL premium in five years. Car owners paid an average of 16% less for compulsory insurance than a year ago, Gazeta Ubezpieczeniowa reports.
11 January 2023POLAND: only 8.6% of the money allocated in the budget for subsidies to insurance for crops and livestock used in 9M2022
Of the PLN 4.5 billion (~EUR 0.92 billion) allocated in this year's state budget for subsidies to insurance premiums for crops and livestock, only PLN 390.2 million (~EUR 80.28 million) was used in the first three quarters of 2022, which, according to experts, indicates that Polish farmers are still reluctant to insure their crops and livestock, farmer.pl wrote.
21 December 2022STATISTICS: Polish insurers' 9 months 2022 business expanded to almost EUR 11 billion
The largest CEE insurance market posted aggregate 3Q2022 GWP worth PLN 57.7 billion (EUR 10.8 billion), up by 3.6% y-o-y according to the quarterly statistics published by Polish KNF (Financial Supervision Authority). At the same time, claims and benefits paid by local insurers increased by ~11% y-o-y to PLN 33.6 billion or EUR 6.9 billion.
8 December 2022POLAND: MTPL insurers may be soon forced to raise MTPL tariffs
Polish insurance companies may be forced to increase MTPL rates for the first time since 2017, given the constant increase in the claims expenses, Gazeta Ubezpieczeniowa wrote, quoting Rankomat, a local comparison website. In Q2 2022, the average value of motor vehicle damage reached PLN 8,769.5, 5.2% up y-o-y.
1 December 2022PZU Group, 3Q2022: Premium growth dynamics highest in a year supported by the non-life segment
The value of insurance premiums collected by the PZU Group throughout the first three quarters of 2022 exceeded PLN 19 billion (~EUR 4.05 billion), 4.3% up y-o-y. In Q3 alone, GWP growth rate was the highest in a year (12.1% y-o-y), thanks to the rapidly growing sales of non-life insurance, motor insurance in particular.
24 November 2022UNILINK takes over the Czech broker INSIA
Czech insurance broker INSIA becomes part of the Polish UNILINK group, as INSIA informed here. According to the statement, UNILINK Group has acquired 80% of INSIA from Marsh.
8 November 2022UNILINK takes over the Czech broker INSIA
Czech insurance broker INSIA becomes part of the Polish UNILINK group, as INSIA informed here. According to the statement, UNILINK Group has acquired 80% of INSIA from Marsh.
8 November 2022POLAND: PBUK: foreign drivers cause about 3% of accidents and collisions on Polish roads
In 2021, drivers of vehicles with foreign registration numbers caused 12.8 thousand accidents and collisions, according to the data of the Polish Motor Insurers' Bureau (PBUK). This was almost at the same level as a year before, but nearly a quarter less than two years ago, Gazeta Ubezpieczeniowa reports.
26 October 2022POLAND: MTPL average price lower than in April 2021
According to the CUK Ubezpieczenia data, MTPL average rate in Poland in September was 2.2% lower than in January. On the other hand, the average price of Motor Hull increased significantly (10%), Gazeta Ubezpieczeniowa reports.
20 October 2022Artur Borowinski to head ERGO Hestia starting January 2023
Starting January 1, 2023, Artur BOROWINSKI will be the new President of the Management Board of one of the largest insurers in Poland - ERGO Hestia, replacing Piotr Maria SLIWICKI - which headed the company since the beginning of the company's operations - for more than 31 years.
18 October 2022PZU buys PKN Orlen shares from the State Treasury
At the end of September, the PZU SA Management Board adopted a resolution approving the acquisition of 14.2 million PKN Orlen shares - an oil company - from the State Treasury.
18 October 2022STATISTICS: POLAND 1H2022: KNF confirms PIU data on market results; market leadership unchanged
According to the Polish Financial Supervision Authority (KNF) data, the local insurance market ended the first half of 2022 with GWP slightly under the 1H2021 level (-0.5% y-o-y). Thus, GWP reached EUR 7.57 billion. The stagnant status of the market was determined entirely by the life insurance segment which saw a 8.3% decrease in GWP. The results confirm the data previously released by the Polish Chamber of Insurance (PIU).
13 October 2022POLAND: The number of psychological and psychiatric consultations is growing under the pressure of health and social insecurity
More and more Poles are reaching for the help of psychologists and psychiatrists. According to the data of Polish health insurer TU Zdrowie, the number of consultations provided in the first half of 2022 increased by almost 40% compared to the same period of the previous year.
13 October 2022STATISTICS: POLAND, 1H2022: strong, negative impact of the regulatory changes on the investment policies sales
According to Polish Chamber of Insurance (PIU) data, the local insurance market ended the first half of 2022 with GWP slightly under the 1H2021 level (-0.5% y-o-y). Thus, GWP reached EUR 7.57 billion. The stagnant status of the market was determined entirely by the life insurance segment which saw a 8.3% decrease in GWP.
29 September 2022POLAND: new liquidation of motor insurance claims rules may trigger raising claims costs in MTPL
The new recommendations of the Polish Financial Supervision Authority (KNF), concerning the liquidation of motor insurance claims, which will come into force on November 1, 2022 may have a significant contribution to drive inflation in vehicle claims covered by MTPL insurance up to 19-27% in Q1 2023, analyst quoted by Gazeta Ubezpieczeniowa believe.
29 September 2022Anna Wlodarczyk-Moczkowska at the head of Compensa in Poland
Vienna Insurance Group (VIG) appointed Anna Wlodarczyk-Moczkowska, ex-Wiener TU's CEO, as president of the management board of both Compensa insurance companies in Poland, replacing Artur Borowinski, who resigned on September 12, the Polish magazine Gazeta Ubezpieczeniowa reports.
22 September 2022Generali to acquire former MetLife pension business in Poland from NN Group
Generali announced that it has reached an agreement with NN Group to buy the former MetLife pension business in Poland. The transaction is subject to customary closing conditions and is expected to close ultimately in the first quarter of 2023.
21 September 2022
