Poland
Poland: motor insurance claims grow in number and value in the first three quarters pf the year
In 3Q 2024, insurers in Poland processed over 1.4 million claims under MTPL and motor own damage insurance (MoD). According to the data of the Insurance Guarantee Fund Information Centre, paid claims reached PLN 14.3 billion, including PLN 8.1 billion for MTPL and PLN 6.2 billion for MoD claims.
28 November 2024Polish top insurer PZU performed better expected despite the strong impact of the September flood losses
Poland's top insurer PZU reported a nearly 18% drop in its third-quarter profit due to a high number of claims for flood-related damages, though it still beat market expectations, REUTERS reported.
21 November 2024POLAND: Warta: the corporate insurance sector shows stable development
As Gazeta Ubezpieczeniowa (Insurance Gazette) reports, according to Warta's estimates, premium dynamics in corporate insurance in the first half of the year was at 111%. The insurer points out that this means stable growth.
5 November 2024POLAND: the bancassurance in 1H2024 achieved one of the best results in recent years
Despite the unfavorable environment, the bancassurance sector in 1H2024 achieved one of the best results in recent years. This was primarily the effect of the bank distribution of property insurance, which achieved a double-digit increase in premiums, Gazeta Ubezpieczeniowa (Insurance Gazette) writes.
28 October 2024Poland: 42,000 claims already processed after the floods in the southern part of the country
As of September 30, 2024, in response to the floods in southern Poland, insurance companies have paid full compensations, uncontested amounts, or advances to 42,500 [updated as of October 10, 2024] owners of damaged homes and apartments, the Polish Chamber of Insurance said.
17 October 2024STATISTICS: POLAND, 1H2024: weather-related events increased claim paid for property losses by 34.8%
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%.
1 October 2024PZU: More than EUR 26 million already paid to the victims of the recent floods in the Central Europe
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.
26 September 2024POLAND: in the first half of 2024, MTPL market grows by one tenth
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.
11 September 2024STATISTICS: POLAND, 1Q 2024: insurance business remained profitable despite the steep growth in claims expenses on the motor lines
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%.
21 August 2024POLAND: MTPL and MoD prices increase in 2Q2024
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.
8 July 2024The merger of Polish VIG subsidiaries Wiener and Compensa finalized
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.
4 July 2024POLAND: Generali CEE Holding completes acquisition of 4Life Direct
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.
2 July 2024Jarosław MATUSIEWICZ appointed President of the Board, subject to KNF’s approval
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
2 July 2024POLAND: 23 million Poles have life insurance coverage, but are still not saving enough for retirement
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.
27 June 2024POLAND: New limits for guaranteed sums in liability insurance for agency activities and brokerage operations
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.
27 June 2024POLAND: PIU expects accelerated market growth, including MTPL
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.
17 June 2024POLAND: UFG: Almost PLN 5 billion paid for motor insurance in the first quarter
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.
21 May 2024POLAND: Generali Polska receives awards as a friendly and responsible employer
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.
14 May 2024STATISTICS: POLAND, FY2023: double digit growth rates on almost all insurance lines
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.
25 April 2024POLAND: Bancassurance returns to growth
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.
23 April 2024
