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Poland 1H2023 Market Portfolio
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POLAND: The third quarter was the most expensive period for motor insurers
During 9M2023, insurers operating in Poland paid a total of PLN 12.07 billion (~EUR 2.61 billion) on MTPL and motor insurance. This is PLN 1.2 billion more than a year ago, when companies paid out PLN 10.83 billion, the Insurance Guarantee Fund reported in the latest Information Bulletin of the UFG Information Center, Gazeta Ubezpieczeniowa (Insurance Gazette) wrote.
5 December 2023POLAND: According to the half-year data, bancassurance is slowly emerging from depression
Last year an increase in life bancassurance sales through banks was observed, while non-life bancassurance has still not returned to growth.
22 November 2023POLAND: Nearly one million cars insured for the first time in 2023
Data collected by the Samar Automotive Market Research Institute (IBRM) shows that during the first three quarters of 2023, 992,552 passenger cars and commercial vehicles with a total permissible weight of up to 3.5 tons were registered for the first time, Gazeta Ubezpieczeniowa writes.
13 November 2023POLAND: EMIS: The Polish insurance market remains the largest in CEE
The Polish insurance market remains the largest in Central and Eastern Europe. However, the penetration rate is 2.2%, ranking Poland 53rd in the world, according to Swiss Re, as EMIS (ISI Emerging Markets Group) analysts noted in the "Poland Insurance Sector Report 2023-2024", Gazeta Ubezpieczeniowa writes.
6 November 2023POLAND: TUW PZUW wins the Insurance Stars ranking
TUW PZUW (Polski Zakład Ubezpieczen Wzajemnych) won the Insurance Stars ranking. The award was given at an event organized by the editorial office of "Dziennik Gazeta Prawna". The company ranked first among all insurance companies in Poland and among mutual insurance companies, Gazeta Ubezpieczeniowa reports.
4 October 2023STATISTICS: Poland: Insurers’ half year profits increased to ~EUR 1.3 billion
Polish insurance market reported 1H2023 aggregate GWP worth PLN 40 billion (EUR 8.8 billion), 10% more y-o-y according to the quarterly statistics published by Polish KNF (Financial Supervision Authority).
27 September 2023POLAND: VIG to merge its Polish companies
Vienna Insurance Group is consolidating its operations on the Polish market, which means that instead of the current six insurance companies, only three will operate. The aim is to make greater use of the Polish market potential as one of the key markets for the group, and to strengthen competitive position, Gazeta Ubezpieczeniowa wrote.
25 September 2023POLAND: Warta: corporate insurance demonstrates high dynamics in the first half of the year
In the first half of the year, the dynamics of premium collection in corporate insurance reached 112%, which, compared with inflation, means at most maintaining the market at a very stable level, according to Warta's estimates, Gazeta Ubezpieczeniowa wrote.
6 September 2023POLAND: TUW PZUW already has over 600 members
TUW PZUW (Polski Zakład Ubezpieczen Wzajemnych), the largest mutual insurance company in Poland, has exceeded 600 members, which means this number doubled in less than four years. TUW PZUW has a 34% market share and is the only insurance company with an international rating (A-), Gazeta Ubezpieczeniowa reports.
22 August 2023POLAND: Rankomat: MTPL policy in July more expensive than last year
In July, the average price of MTPL policy for owners of motor vehicles was PLN 518 (~EUR 117.46), while in the same period of 2022, it was PLN 497, which means that the current premium is 4.9% higher than a year ago, Gazeta Ubezpieczeniowa wrote based on the insurance report of RMF FM and Rankomat.
16 August 2023Leading Polish motor insurer WARTA launches Safe Driving Program in Poland with CMT
WARTA, a leading motor insurer in Poland, and Cambridge Mobile Telematics (CMT), the world’s largest telematics service provider, announced Warta4U, a connected insurance program that offers safe driving discounts. The program will begin by focusing on young drivers, providing them feedback on risk factors like speed, acceleration, braking, cornering, and phone distraction while driving.
8 August 2023POLAND: the insurers record another MTPL price reduction
In Poland insurers recorded another MTPL price reduction by the end of the first half of 2023. The average insurance premium decreased by 4.2% y-o-y and amounted to PLN 502 (~EUR 113), Gazeta Ubezpieczeniowa wrote based on the Rankomat data.
5 July 2023POLAND: NBP: in 2022 the SCR coverage ratios of all insurers were above 130%
Thanks to the improvement in the insurance sector's solvency ratios observed in 2H2022, at the end of December the coverage ratio of the Solvency Capital Requirement with eligible own funds was 272% in life and 228% in non-life, which was more than at the end of June 2022, the "Financial Stability Report. June 2023" published by the National Bank of Poland said, Gazeta Ubezpieczeniowa wrote.
21 June 2023STATISTICS: Polish insurers posted almost half billion euro in Q1 profits
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.
21 June 2023Aegon completes the sale of CEE businesses to VIG
Dutch insurer Aegon announced the completion of the divestment of its businesses in Poland and Romania to Vienna Insurance Group for EUR 125 million.
13 June 2023POLAND: 4.3 million Poles have private health insurance
According to the data collected by the Polish Insurance Association (PIU), at the end of March this year, 4.3 million Poles were covered by private health insurance, which is 12.5% more y-o-y. The quarterly GWP for this type of insurance reached PLN 454.4 million (~EUR 96.88 million), Gazeta Ubezpieczeniowa wrote.
8 June 2023TUW PZUW launches "Szpital 360" to support medical entities in medical risk management
TUW PZUW, the largest mutual insurance company in Poland, part of the PZU financial group, launches "Szpital 360" - a new project that TUW PZUW intends to introduce in medical facilities from September, as a preventive program aimed at developing a medical risk management model in medical entities insured by the company.
18 May 2023Unillink joins Acrisure
Acrisure, a Fintech leader that operates a top-10 global insurance broker, announced its acquisition of Unilink Group, the largest insurance distribution platform in the Central and Eastern European (CEE) region. Through this partnership, Acrisure adds over 1,300 colleagues across Poland, Bulgaria, Romania, Czech Republic, Slovakia and Moldova and clients in the same geography.
3 May 2023Changes in the Supervisory Board of Generali Polska
At the end of April, due to the expiry of the three-year contract, Andrea Simoncelli resigns from the position of the Chairman of the Supervisory Boards of insurance companies of Generali Polska, as the company informed here.
3 May 2023POLAND: Warta is number one in the list of the Financial Ombudsman
The latest report of the Financial Ombudsman for 2022 confirmed Warta's position as a leader in the quality of customer service in the property and motor insurance segments. The company has maintained this position for the fifth year in a row, Gazeta Ubezpieczeniowa wrote.
27 April 2023
