STATISTICS: Polish insurers' aggregate business has stagnated during 2020

1 April 2021 — Andrei Victor
The largest CEE insurance market ended 2020 with aggregate GWP worth PLN 63.42 billion (~EUR 13.74 billion), down by 0.6% y-o-y, according to the year-end figures from the Polish Financial Supervision Authority (KNF).

The amount of paid claims/indemnities during the period was PLN 39.65 billion (~EUR 8.59 billion), representing a decrease of almost 3% y-o-y.

The non-life insurance segment accounted for PLN 42.67 billion of the total GWP or 0.26% more y-o-y, while life-insurance companies contributed with the remaining PLN 20.74 billion, which was more than half a million PLN less as compared with year-end 2019 - due the 14.0% decrease in GWP reported by Unit-linked products.

The local insurer PZU Zyce was the largest life insurer (42.19% market share), followed by AVIVA TUnZ (9.53% market share), and NN (7.95%). PZU was the biggest non-life insurer - market share of 29.38%, followed by ERGO HESTIA at 15.29% and WARTA, 14.64%.

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