The written premium of the insurance companies amounted to PLN 54.80 bln in 2015 and was less by PLN 0.13 bln (0.23 %) than in the analogous period last year.
We can see a drop trend in the life insurance sector, which started in the last quarter of 2015. Then the value of written premium dropped by PLN 1.14 bln (3.98 %) to a level of PLN 27.53 bln. For the non-life insurance sector an increase of written premiums by PLN 1.02 bln (3.87 %) to a point at PLN 27.28 bln was noted.
The main cause of written premium’s decrease in the life insurance sector (branch I) was the decreasing of premiums in group 1 (life insurance) by PLN 1.78 bln (16.71 %) to a point of PLN 8.85 bln. It was caused by constraints in the sale of insurance with investment funds, which were offered in group 1.
The improvement was noted in insurance from group 3 (insurance with investment funds). The gross written premium increased by PLN 0.40 bln (3.15 %) to a level of PLN 13 bln. It should be emphasized that insurance from group 3 still dominates in portfolio of direct insurance (branch I). They are 47.25 % of the total premium from the whole sector (share increases by 3.27 %). The insurance from group 1 was 32.17 % of direct insurance in sector I (their share decreased by 4.91 %).
In branch II an absolute increase of written premiums was noted in group 3 (fully comprehensive insurance) – the growth was by PLN 0.20 bln and in group 1 (accident insurance) – the growth was by PLN 0.17 bln. Automotive insurance dominates in this sector. It is 52.64 % of the direct insurance portfolio. Its share in branch II increased by 0.79 % compared with the analogous period of the previous year.
The sector’s solvency was on a safe level. At the end of 2015 all insurance and reinsurance companies met requirements of covering the solvency margin of guarantee capital and covering the technical reserve by using their own assets.
