The Polish insurance market saw a 9.5% y-o-y increase in the total GWP, to EUR 15.05 billion. Paid claims increased at a lower pace, reaching EUR 8.98 billion, 4.5% more y-o-y. The non-life sector, in particular the property and motor insurance lines provided for most of the market's business growth.

Motor insurance lines maintained their dominant position in the non-life insurance portfolio, although the MTPL insurance line's share in the market portfolio decreased by about 1 percentage point, most probably amid the continued trend of falling MTPL tariffs. Thus, while in 2019 the average MTPL premium value stayed at PLN 500 (~EUR 117.4), in 2020 this value slightly increased in local currency to PLN 523 (EUR 113.33), but in the third quarter of 2021 fell to PLN 486.8 (EUR 105). On a contrary trend, the average MTPL claim value increased continuously throughout the same period, reaching in 3Q2021 to PLN 8,367.7 (~EUR 1,806.14).

Property insurance segment recorded on both business lines double-digit growth rates in the premium production. Overall, the segment went up by 17.35%, to GWP worth EUR 1.93 billion. The strongest growth was reported for the "Damages to property" line, including agricultural insurance, where premiums increased by 22.48%, to EUR 972.35 million. On the paid claims side, the overall change was a rather negative one (down by 0.2%), as a result of compounding two divergent trends: while claims paid for the fire insurance line increased by 19.4%, the damages to property class saw claims expenses decreasing by 19.7%.

Despite the declining business volume on the Unit-Linked insurance line, the life insurance sector saw an overall positive dynamic, with GWP reaching EUR 4.81 billion, by 7% more y-o-y.

Access xprimm.com and download the latest Polish insurance market statistics for 2021: GWP/paid claims portfolio and life/non-life rankings.