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.

Non-life GWP rose to PLN 14.59 billion (EUR 3.12 billion) in the first quarter of the year, 13.13% more than in the same period last year. The life insurance segment was up by 5.38% to PLN 5.53 billion (EUR 1.18 billion).

According to PIU - The Polish Chamber of Insurance, Polish insurers generated PLN 2.2 billion (~EUR 470.5 million) in net profit in the first quarter of 2023, i.e. 190 percent more than in the previous year. "This is primarily due to increased income from insurers' investments, with rising interest rates due to inflation".

The largest non-life insurer in the country in terms of GWP is PZU SA which accounted for about one third of this segment: 30.45%, while the absolute leader of the life insurance segment in terms of GWP is PZU ZYCIE with 40.08% market share.

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