According to data collected by the Polish Insurance Chamber (PIU), as of December 31, 2024, GWP in the banking channel was PLN 6.32 billion (~EUR 1.48 billion), which is 3% higher y-o-y (PLN 6.11 billion), and at the same time the second-best result since 2020 (in 2021 bancassurance amounted to PLN 6.83 billion), Gazeta Ubezpieczeniowa (Insurance Gazette) writes.

A total of PLN 3.79 billion was collected in life bancassurance (+0.4% y-o-y). Premiums collected in 2024 from individual contracts accounted for 93% of the channel's revenue (vs 91% in 2023). According to the PIU report, a total of PLN 2.19 billion in life bancassurance came from the sale of protective insurance - 16% less than in 2023. In turn, the premium written from investment policies was PLN 1.6 billion (+36%).

In property bancassurance, PLN 2.53 billion in premiums were collected, which is 4% more y-o-y (sales of non-life policies in the banking channel reached PLN 2.33 billion in 2023). It is worth noting that this was the second-best result since 2016. In total, at the end of 2024, there were 23.8 million insurance policies in operation in non-life bancassurance.

The report includes the results of 15 life companies, representing approx. 96.6% of the written premium, and 15 non-life companies, representing 89.7% of the sales result, the source added.

*EUR 1 = PLN 4.28 (as of December 31, 2024)