The Polish market reported positive dynamic in terms of premiums, according to the year-end figures from the Polish Financial Supervision Authority (KNF).
Thus, the Polish insurers’ aggregate GWP was up by 2.67% y/y to PLN 63.83 billion (~EUR 14.98 billion) at the end of 2019.
Official figures also revealed that the amount of paid claims/indemnities during the period was PLN 40.86 billion (~EUR 9.59 billion), representing a decrease of almost 2% y/y.
The non-life insurance segment accounted for PLN 42.56 billion of the total GWP or 5.19% more y/y – except MTPL LoB (-1.69% y/y) all the main non-life subclasses reporting positive rates; the life-insurance companies contributed the remaining PLN 21.26 billion, which was almost half a million PLN less as compared with year-end 2018 – due the 14.5% decrease in GWP reported by unit-linked products.
The local insurer PZU Życie was the largest life insurer (40.35% market share), followed by AVIVA TUnZ (9.10% market share), and NN (7.22%). PZU was the biggest non-life insurer – market share of 30.63%, followed by ERGO HESTIA at 14.98% and WARTA, 14.17%.
