According to data collected by Rankomat, last year MTPL prices increased by 25% compared to 2023. The experts believe that drivers will face further increases in 2025, Gazeta Ubezpieczeniowa (Insurance Gazette) writes.

The largest CEE insurance market posted aggregate 3Q2024 GWP worth PLN 63.25 billion (EUR 14.75 billion), up by 9.6% y-o-y according to the quarterly statistics published by Polish KNF (Financial Supervision Authority). At the same time, claims and benefits paid by local insurers increased by 11% y-o-y to PLN 36.78 billion or EUR 8.58 billion.

Life GWP was up by 4% y-o-y to over PLN 17.7 billion (EUR 4.13 billion), while the non-life insurance segment increased by 11.95% to PLN 45.55 billion (EUR 10.6 billion).

In 3Q 2024, Polish insurers paid compensation and benefits worth PLN 36.8 billion (EUR 8.6 billion), by ~11.5% more y-o-y. However, claims paid for losses caused by violent weather and the effects of floods in southern Poland - increased by as much as 40% y-o-y, to PLN 2.3 billion, data collected by PIU – the Polish Chamber of Insurers show.

“Certainly, the future” – the new PZU Group strategy for 2025-2027 is based on 4 pillars that will strengthen PZU’s position as a leader in large-scale risk management and a partner that provides certainty in times of threats, the Group’s press release says.

The Polish Financial Supervision Authority (UKNF) has unveiled its supervisory priorities for 2025, with a significant emphasis on the insurance sector. These priorities aim to address emerging risks, enhance product quality, and strengthen market stability.

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.

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.

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.

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.

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.

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.