STATISTICS: POLAND, 1Q2020: Insurance market grew 2.4% y-o-y

6 August 2020 —
STATISTICS: 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.

The volume of non-life gross written premiums rose to PLN 11.52 billion (EUR 2.53 billion*) in the first quarter of the year, 3.66% more than in the same period last year. The life insurance segment decreased by 0.27% to PLN 5.21 billion (EUR 1.14 billion*).

The leader of NL segment, PZU SA, accounted for about one third of this segment: 32.60%. ERGO HESTIA, came second, with 14.42% market share, followed by WARTA with 14.27%. The Top 3 largest general insurance companies, reported cumulative subscriptions of morethan PLN 7 billion, or 61.3% of the total market.

The absolute leader of the life insurance segment in terms of GWP is PZU ZYCIE with almost 42% market share.

* for the following exchange rates:
1 EUR = 4.5523 PLN (March 31st, 2020)
1 EUR = 4.3013 PLN (March 31st, 2019)

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