Poland
POLAND: 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 2024POLAND: the Aegon, Compensa Życie and Vienna Life merger will give birth to a one of the largest life insurers
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.
11 April 2024POLAND: MTPL insurers record a technical loss for the first time since 2016
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.
11 April 2024POLAND: PZU wins the "Best Insurer in Poland"
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.
25 March 2024POLAND: in 2023 the insurers received the most motor insurance claims in May and October
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.
26 February 2024Polish car owners more interested to comprehensively insure their vehicles
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.
21 February 2024Polish WDB and Brokers Union merge under the PIB Broker brand
The Polish brokerage companies WDB and Brokers Union, which merge and further operate under the PIB Broker brand. The new entity is part of the international team of PIB Group, one of the largest insurance intermediation groups in Europe, operating in 9 countries, generating revenues in excess of GBP 350 million from specialist insurance, Gazeta Ubezpieczeniowa wrote.
7 February 2024POLAND: Car Insurance Day on 1st of February
According to PIU data, at the end of Q3 2023, the number of active mandatory MTPL policies exceeded 27.7 million in Poland, while the number of settled claims reached 826 thousand, with an average claim amount of about PLN 9.5 thousand.
31 January 2024
