The Polish Insurance Association (PIA) has published industry data from 2017. In the last year insurers paid out almost PLN 40 bln in compensation and made PLN 5 bln profit.
The value of compensation increased by 9% y/y. The amount of PLN 1.7 bln was paid for natural damages. This is 29% more than in 2016.
“According to PIA’s data, 60% houses are insured. Entrepreneurs also insured 60% of their assets”, Andrzej Maciążek, vice-president of PIA, explains.
In 2017 insurers paid out nearly PLN 13 bln on account of motor insurance.
In the life segment premiums increased by 3% to the level of PLN 24.6 bln. The value of paid compensation in the life segment was PLN 20.4 bln. At the end of 2017 life insurers made PLN 2.3 bln; other insurance companies from the P&C segment made PLN 3.4 bln.