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).

Overall, life insurance GWP reached EUR 2.23 billion, while the segment's weight in the market portfolio fell from 32% to 29.5% in June 2022.

PZU ZYCIE lead the life insurance market, with a market share of 39.30%, down by 1 percentage point y-o-y. ALLIANZ ZYCIE POLSKA and NATIONALE-NEDERLANDEN are completing the Top 3.

Non-life GWP went up, overall, by 3.14% y-o-y, to EUR 5.33 billion. While some LoBs saw a negative trend, as accident, sickness or MTPL insurance, property insurance reported an almost 12% increase in GWP.

PZU remained the non-life insurance market's leader, with an unchanged market share of 29%, while the second and third ranks belong to WARTA and ERGO HESTIA, in a reversed order as compared with 1H2021.

Polish insurers generated EUR 491 million in net profit in the first half of 2022, i.e. by 16%. less than a year ago. Insurers paid EUR 124.14 million in income tax to the state budget.

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