Poland
POLAND: the insurers record another MTPL price reduction
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.
5 July 2023POLAND: NBP: in 2022 the SCR coverage ratios of all insurers were above 130%
Thanks to the improvement in the insurance sector's solvency ratios observed in 2H2022, at the end of December the coverage ratio of the Solvency Capital Requirement with eligible own funds was 272% in life and 228% in non-life, which was more than at the end of June 2022, the "Financial Stability Report. June 2023" published by the National Bank of Poland said, Gazeta Ubezpieczeniowa wrote.
21 June 2023STATISTICS: Polish insurers posted almost half billion euro in Q1 profits
Polish insurance market reported Q1 2023 aggregate GWP worth PLN 20.12 billion (EUR 4.30 billion), 10.89% more y-o-y according to the quarterly statistics published by Polish KNF (Financial Supervision Authority). Claims and benefits paid by local insurers decreased by 2.46% y-o-y to PLN 11.25 billion (~EUR 2.40 billion) from PLN 11.53 billion a year before.
21 June 2023Aegon completes the sale of CEE businesses to VIG
Dutch insurer Aegon announced the completion of the divestment of its businesses in Poland and Romania to Vienna Insurance Group for EUR 125 million.
13 June 2023POLAND: 4.3 million Poles have private health insurance
According to the data collected by the Polish Insurance Association (PIU), at the end of March this year, 4.3 million Poles were covered by private health insurance, which is 12.5% more y-o-y. The quarterly GWP for this type of insurance reached PLN 454.4 million (~EUR 96.88 million), Gazeta Ubezpieczeniowa wrote.
8 June 2023TUW PZUW launches "Szpital 360" to support medical entities in medical risk management
TUW PZUW, the largest mutual insurance company in Poland, part of the PZU financial group, launches "Szpital 360" - a new project that TUW PZUW intends to introduce in medical facilities from September, as a preventive program aimed at developing a medical risk management model in medical entities insured by the company.
18 May 2023Changes in the Supervisory Board of Generali Polska
At the end of April, due to the expiry of the three-year contract, Andrea Simoncelli resigns from the position of the Chairman of the Supervisory Boards of insurance companies of Generali Polska, as the company informed here.
3 May 2023Unillink joins Acrisure
Acrisure, a Fintech leader that operates a top-10 global insurance broker, announced its acquisition of Unilink Group, the largest insurance distribution platform in the Central and Eastern European (CEE) region. Through this partnership, Acrisure adds over 1,300 colleagues across Poland, Bulgaria, Romania, Czech Republic, Slovakia and Moldova and clients in the same geography.
3 May 2023POLAND: Warta is number one in the list of the Financial Ombudsman
The latest report of the Financial Ombudsman for 2022 confirmed Warta's position as a leader in the quality of customer service in the property and motor insurance segments. The company has maintained this position for the fifth year in a row, Gazeta Ubezpieczeniowa wrote.
27 April 2023POLAND: the largest share in insurance complaints last year were about motor insurance
Nearly three-quarters of about 9,000 cases submitted to the Financial Ombudsman last year concerned property insurance, and almost half of all insurance cases referred to motor policies, Gazeta Ubezpieczeniowa wrote.
20 April 2023POLAND: Rankomat: motor insurance prices record another drop in the first quarter
The calculations made by Rankomat show that during the first 3 months of 2023 the motor insurance market recorded another drop in prices compared to the same period last year. The average premium decreased by nearly 10%. At the same time, price reductions are not as dynamic as in previous years,
6 April 2023STATISTICS: Poland insurance market expanded to EUR 15.4 billion last year
The Polish insurance market posted FY2022 GWP worth PLN 72.35 billion (EUR 15.42 billion), up by 4.53% 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 7.46% y-o-y to PLN 44.38 billion or EUR 9.46 billion.
6 April 2023POLAND: 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 2022
