Polish insurers wrote gross premiums worth EUR 9.93 billion in 1H2024, 13.8% up y-o-y, almost all business lines recording solid growth rates. Paid claims reached EUR 5.55 billion, 13% more y-o-y. The results denominated in Euro look better due to the y-o-y slight appreciation of the zloty against euro. As such, in the national currency, the market grew by 9.9%, while paid claims by 9.6%.

Polish insurance market’s leader PZU has announced it has paid until 25 September a total of over PLN 111 million (~EUR 26 million) in advances and compensations, to help victims of the recent floods that have hit Central Europe, significantly affecting also Poland. The company has already issued decisions regarding 70% of the claims reported by clients.

In the first half of 2024 motor insurers in Poland generated a total of PLN 8.85 billion (~EUR 2.05 billion) in premiums, which is 10.42% more y-o-y, the analysis of the Insurance Guarantee Fund (UFG) show, Gazeta Ubezpieczeniowa (Insurance Gazette) writes.

Gross premiums written by Polish insurers in Q1 2024 reached EUR 5.1 billion (PLN 21.94 billion), which is 18.55% more y-o-y, in European currency. This very high growth rate is an effect of the appreciation of about 9% y-o-y of the Polish zloty. Calculated in Polich currency, the market growth was of slightly above 9%.

The prices of MTPL and MoD continued to increase across the country in the 2Q2024. Despite rising prices, drivers still take additional assistance policies, according to data from CUK Ubezpieczenia, Gazeta Ubezpieczeniowa (Insurance Gazette) writes.

As of July 1st, the merger of the Polish insurers belonging to the Vienna Insurance Group (VIG), Wiener and Compensa, became official. The newly created company operates under the Compensa brand and is ranking fourth among the VIG’s CEE subsidiaries.

Following the necessary regulatory and competition approvals, Generali CEE Holding BV, the parent company of Generali subsidiaries in the CEE, announced it has completed the acquisition of 4LifeDirect sp. z o. o., an innovative life insurance distribution company in Poland.

Jarosław MATUSIEWICZ was appointed to the Management Board of TUZ Ubezpieczenia, in which starting 1 July he performs the duties of the President, awaiting the consent of the Polish Financial Supervision Authority (KNF) to assume the function of President of the Management Board

In Q1 2024, 23 million Poles had life insurance, including 11.9 million through group insurance. This number is comparable to the previous year. Overall, life insurance premiums amounted to PLN 5.9 billion (EUR 1.36 billion), marking a 6.0% y-o-y increase. The payouts reflect the current mortality situation in Poland, reaching about EUR 1 billion.

On June 26, the Polish Ministry of Finance submitted three draft regulations for public consultation, Gazety Ubezpieczeniowa announced. The proposed acts pertain to new limits for guaranteed sums in liability insurance for agency activities and brokerage operations, as well as guarantees for agency activities performed by agents offering supplementary insurance.

The insurance market should grow in 2024, and even more the year after that. MTPL should grow faster than in 2023 and this LoB should become profitable again, according to Jan Grzegorz Prądzyński, president of the Polish Chamber of Insurance (PIU), PAP Biznes writes.

Over PLN 4.9 billion (~EUR 1.14 billion) was paid out by motor insurers in the first three months of this year under motor insurance policies.

Once again, Generali Polska received the title of "Friendly Workplace", and was also included in the Forbes "Best Employer" ranking. Previously, Generali was recognized by Home and Market magazine as a Responsible Employer, the insurer said on its website.

Polish insurers wrote gross premiums worth EUR 18.14 billion in 2023, 17.6% up y-o-y. With a few exceptions, all business lines saw double-digit growth rates. Paid claims reached EUR 10.17 billion, 7.5% more than in 2022.

After a decline in the value of insurance sales in the banking channel recorded in 2022, last year there was several percent increase in bancassurance due to improved results from the distribution of policies by banks in both sectors, Gazeta Ubezpieczeniowa (Insurance Gazette) wrote.

The new company resulting after the Aegon, Compensa Życie and Vienna Life merger planned for Q4 2024, will operate under the name Vienna Life. While preserving the name of one of the merging companies, the new market entity will go through a complex rebranding operation.

Due to the still low rates in TPL, the Polish motor segment recorded another decline in the technical result in 2023. Total motor insurance GWP amounted to EUR 6.5 billion, 8.5% up y-o-y. While GWP growth on the MoD line was of about 14%, on the MTPL class premiums went up by only 1.7% y-o-y.

At the 9th edition of the Institution of the Year project PZU won the title of the "Best Insurer in Poland" for another year in a row.

In 2023, there were just over 1.7 million claims on MTPL and MoD insurance. The most dangerous months turned out to be May and October, while the most dangerous days of the week were Mondays and Fridays - according to data from the Insurance Guarantee Fund (UFG), Gazeta Ubezpieczeniowa (Insurance Gazette) wrote.

The number of MoD active policies in the Polish market amounted to 7.3 million units by the end of Q42023, which 4% more y-o-y, data from the Insurance Guarantee Fund show.