In 2024, Polish insurers paid out a record-breaking 50.3 billion PLN (EUR 11.76 billion) in claims and benefits, marking a 13.6% increase y-o-y. Notably, natural disaster-related payouts surged by 64.1% to 3.7 billion PLN (EUR 865 million), primarily due to floods and other extreme weather events. At the same time, gross written premiums rose by 8.9% y-o-y, to PLN 85.7 billion.

The motor insurance market collected PLN 31.4 billion (EUR 7.34 billion) in premiums, reflecting an 11.1% increase. The biggest challenge remains rising claim costs, driven by higher medical expenses, spare parts prices, and repair costs. Claims paid for MTPL insurance reached PLN12 billion, increasing y-o-y by +12.6%. On the MoD side, paid claims reached PLN 8.6 billion, more by 18.2% y-o-y.

It is worth noting that, according to the Polish Chamber of Insurance (PIU) calculations, the average MTPL premium increased by 5.1% to 538 PLN, while the average claim value rose by 9.8% to nearly 11,000 PLN. According to PIU, insurers are adjusting premiums to keep up with rising claims while ensuring long-term financial stability.

Property insurance saw brisk growth, with gross written premiums reaching PLN 13.1 billion (EUR 3.05 billion), a 14% y-o-y increase. However, 2024 was a challenging year for agriculture, with frosts, hailstorms, and floods causing severe damage. According to PIU, compensations paid for property insurance reached: PLN 3.7 billion for weather-related damages (+64.1% y-o-y), PLN 800 million in agricultural insurance claims and PLN 6.2 billion in total property insurance claims (+48.6% y-o-y).

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