Polish insurers have received EUR 10.84 billion premiums after Q3 2018. It is 1.2% more than a year before. They paid EUR 6.87 billion claims. Most damages and liquidated damages related to motor insurance.
According to the Polish Insurance Association, net profit in the life insurance sector amounted to EUR 468 million, up 5.6% y/y. Non-life insurers generated a net profit worth EUR 866 million, 24.6% higher than in 3Q 2017.
The technical result of life insurance amounted to EUR 562 million and was lower than the previous year by 0.5%. The technical result of non-life insurers amounted to EUR 562 million and was by 57% higher than at the end of September 2017.
In the scope of gross written premiums (GWP) the life insurance sector remained on a downsize trend. Life insurers reported a 9.5% decrease, to EUR 3.84 billion. The biggest drop was recorded in the unit-linked sector. It amounted to -26.6% y/y. At the same time, benefits paid by life insurers increased by 6%, to EUR 3.7 billion. In the non-life insurance segment GWP increased by 8.27%, to EUR 6.99 billion. After Q3 2018 MTPL insurance provided EUR 2.67 billion premiums – more by 4%. The average MTPL premium value stood at PLN 569 (0.1% less y/y), while the average claim value was of PLN 7,428 (3% less y/y).
