The Polish Insurance Association has presented data about the Polish Insurance sector after 2018. The insurer made higher profits and financial results than a year before.
In the life insurance sector the sum of paid compensation was PLN 21.5 bln (growth by 5.6% y/y). The technical result increased by 1.3% and it was PLN 3.1 bln. Life insurance companies finished the year with a financial result valued at PLN 2.4 bln, 7.6% higher than in 2017.
The P&C sector finished the year with profit at PLN 4.1 bln, 18.5% better than a year before. The technical result amounted to PLN 2.9 bln. It is a growth of 43% y/y. According to the organization insurers improved their results thanks to better risk management in the sector of motor insurance and decreasing the number of damages in insurance against fire and other elements.
In the P&C sector the benefits amounted to PLN 20.5 bln. Insurers paid almost PLN 14 bln in the sector of motor insurance, 64% of this amount in MTPL insurance.
