STATISTICS: POLISH insurance market up 3% in Q1 2015
According to a market analysis published by PIU (The Polish Chamber of Insurance) on its website, the following key indicators were reported:
Motor insurance market
- The gross written premium on civil liability insurance (OC) amounted to PLN 1.9 billion (decreasing by 2.3%).
- The gross written premium on comprehensive Auto CASCO (AC) insurance amounted to PLN 1.4 billion (increasing by 2.1%).
- The technical loss on civil liability insurance (OC) amounted to PLN 59 million.
- The technical result on comprehensive Auto CASCO insurance (AC) amounted to PLN 7.5 million.
- Compensations and benefits under civil liability insurance (OC) of land vehicles (including civil liability insurance of motor vehicle owners amounted to PLN 1.6 billion (an increase by 9.7%).
- The total premium on non-life insurance (exclusive of motor insurance) amounted to PLN 3.8 billion and was by 4.6% higher than a year ago.
- Insurance against fire and other natural disasters still have the biggest share in the premium on the non-life insurance market - over PLN 1 billion. However, a y-o-y decrease of this share by 1.6% was reported.
- The total compensations and benefits paid under life insurance amounted to PLN 5.2 billion (a decrease by 10.8%).
- The value of the premium on life insurance increased by 3.7% to PLN 7.2 billion.
- The value of the premium on insurance with ICF increased to PLN 3.5 billion (by 16%).
- The value of premiums on accident insurance is constantly growing (PLN 1.3 billion of premiums for the Q1 2015 - more than double growth during the last 5 years).
The net profit of life insurers for the Q1 2015 amounted to PLN 668 million and was by 6.1% higher than a year ago. Non-life insurers ended Q1 2015 with the profit of PLN 400 million (a decrease by 26%). The income tax due from Polish insurers for Q1 2015 amounted to PLN 262 million.
Access www.xprimm.com and download the 1Q2015 Polish insurance market statistics.
Market portfolio (in EUR and PLN):
- Gross written premiums
- Paid claims
- Growth rates
- Life insurance ranking
- Non-life insurance ranking