Insurance in figures 2019
Insurance market in Poland
Author of this brochure is the Polish Chamber of Insurance. Presented financial data relate to Polish insurers reporting to the Polish Financial Supervision Authority and to the Polish Chamber of Insurance.
This publication is copyright protected. May be quoted. provided the source is credited.
Polish Chamber of Insurance is not liable for effects of any potential decisions made based on this publication.
Insurance in figures 2019
Insurance market in Poland
I. POLAND COMPARED TO OTHER EUROPEAN INSURANCE MARKETS
According to Insurance Europe report, in 2018 the United Kingdom remained the largest European insurance
market before France and Germany, respectively.
Figure 1. Gross written premium in European countries in 2018 (EUR billion)
Source: Insurance Europe
I. POLAND COMPARED TO OTHER EUROPEAN INSURANCE MARKETS 5
II. ROLE OF INSURANCE INDUSTRY IN THE NATIONAL ECONOMY 6
III. INSURANCE COMPANIES’ ASSETS 7
IV. GROSS WRITTEN PREMIUM 8
A. LIFE INSURANCE 9
B. NON-LIFE INSURANCE (EXCLUDING MOTOR INSURANCE) 10
C. MOTOR INSURANCE 11
V. CLAIMS AND BENEFITS PAID 12
VI. MOTOR THIRD PARTY LIABILITY INSURANCE 14
VII. MOTOR HULL INSURANCE 15
VIII. NUMBER OF NON-LIFE INSURANCE POLICIES 16
IX. COMPULSORY AGRICULTURAL INSURANCE 17
X. HEALTH INSURANCE 18
XI. BANCASSURANCE 19
XII. INSURANCE ACTIVITY TECHNICAL RESULT 20
XIII. INSURANCE ACTIVITY FINANCIAL RESULT 22
XIV. INSURANCE COMPANIES’ INVESTMENTS 24
XV. INSURANCE COMPANIES’ EQUITY 26
XVI. INSURANCE AND REINSURANCE COMPANIES, BROKERS AND AGENTS 28
United KingdomFrance
GermanyItaly
NetherlandsSpain
SwitzerlandDenmark
SwedenBelgiumFinlandAustria
NorwayPoland
PortugalTurkey
Czech RepublicGreece
HungaryLuxembourg
SloveniaRomaniaSlovakia
CroatiaBulgaria
CyprusMalta
EstoniaLatvia
Lithuania
0 100 200 300 400
0.030.30.40.60.91.31.32.22.22.32.73.23.75.79.011.713.916.017.3
23.327.031.331.8
51.063.3
72.3135.1
202.4219.4
341.6
INSURAN
CE IN FIGURES 2019 IN
SURANCE M
ARKET IN
POLAND
TABLE OF CONTENTS4 5
INSURANCE IN FIGURES 2019 INSURANCE MARKET IN POL AND
II. ROLE OF INSURANCE INDUSTRY IN THE NATIONAL ECONOMY
Insurance industry stabilizes business cycles. Insurance companies are also long-term investors in the national
economy and in Polish companies.
Figure 2. Value of investments of national insurance companies in fixed and variable-rate securities (PLN billion)
Source 3. Polish insurance companies’ assets (PLN billion)
Source: Polish Chamber of Insurance, Polish Financial Supervision Authority Source: Polish Chamber of Insurance, Polish Financial Supervision Authority
III. INSURANCE COMPANIES’ ASSETS
At the end of 2019 total assets of Polish insurance com-panies amounted to PLN 194 billion.
Stocks and other variable-rate securities
Fixed income debt securities
0
20
40
60
80
2012 2013 2014 2015 2016 2017 2018 2019
76.2
71.6
67.564.9
56.955.853.7
57.1
15.916.616.717.5
23.823.021.9
16.5
0
50
100
150
200
2013 2014 2015 2016 2017 2018 2019
194.0192.4196.6
185.1180.9178.0
167.6162.8
2012
6 77
INSURAN
CE IN FIGURES 2019 IN
SURANCE M
ARKET IN
POLAND
9 IV.GROSS WRITTEN PREMIUM
In 2019 insurance gross written premium totalled PLN 63.83 billion, with 33% share of life and 67%
of non-life segment.
A. LIFE INSURANCE
life premium21.27 billionPLN
gross written premium in 2019
non-life premium
including:
63.83 billionPLN
42.56 billionPLN
Source: Polish Chamber of Insurance, Polish Financial Supervision Authority
Figure 4. Life gross written premium (PLN billion)
21.3 billionPLNincluding:
gross written premium in 2019
7.9 billionPLNsimple life
6.3 billionPLNhealth riders
0.11 billion PLNjuvenile
0.14 billion PLNannuity6.8 billionPLN
unit linked
0
10
20
30
40
2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
21.321.7
24.623.9
27.528.7
31.3
36.4
31.831.430.3
8
INSURANCE IN FIGURES 2019 INSURANCE MARKET IN POL ANDIN
SURANCE IN
FIGURES 2019 INSURAN
CE MARK
ET IN POLAN
D
11 B. NON-LIFE INSURANCE (EXCLUDING MOTOR INSURANCE) C. MOTOR INSURANCE
Source: Polish Chamber of Insurance, Polish Financial Supervision Authority
Figure 6. Motor insurance gross written premium (PLN billion)Figure 5. Non-life (excluding motor insurance) gross written premium (PLN billion)
0
5
10
15
25
20
2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
23.623.522.5
18.2
13.913.313.614.414.2
12.712.0
0
5
10
15
20
2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
19.0
16.8
15.3
14.013.712.913.0
11.9
10.610.0
9.0
42.6 billionPLNincluding:
non-life gross written premium in 2019
8.7 billionPLNmotor hull
7.2 billionPLNproperty
2.7 billionPLNother personal
1.3 billionPLNother
0.5 billionPLNM.A.T.
2.0 billion PLNfinancial
2.9 billion PLNinward reinsurance
14.9 billionPLNMTPL
2.4 billion PLNgeneral liability
Source: Polish Chamber of Insurance, Polish Financial Supervision Authority
10
INSURANCE IN FIGURES 2019 INSURANCE MARKET IN POL ANDIN
SURANCE IN
FIGURES 2019 INSURAN
CE MARK
ET IN POLAN
D
13 V. CL AIMS AND BENEFITS PAID
Claims and benefits paid by the insurers in 2019 totalled
41.9 billionPLNwartość odszkodowań i świadczeń
z ubezpieczeń na życiew 2018 r.21,5 mld zł
20,2 mld złwartość odszkodowań i świadczeń
z ubezpieczeń majątkowychw 2018 r.
Source: Polish Chamber of Insurance, Polish Financial Supervision Authority
0
10
5
15
25
20
30
2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
18.6
21.520.3
18.319.4
20.4
23.1
26.026.0
22.6
27.7
15.013.9
13.112.2
10.9
9.58.88.79.08.78.8
7.36.36.46.2
4.84.34.95.3
4.54.93.7
Life insurance
Non-life insurance (excluding motor insurance)
Motor insurance
18.6 billionPLNincluding:
life claims and benefits paid
9.9 billionPLNunit linked
5.8 billionPLNsimple life
2.7 billion PLN
health riders
0.1 billionPLNjuvenile 0.1 billion PLN
annuity
22.3 billionPLNincluding:
non-life claims and benefits paid
9.5 billionPLNMTPL
5.5 billionPLNmotor hull
3.1 billionPLNproperty
1.0 billionPLNgeneral liability 1.1 billionPLN
inward reinsurance
0.6 billion PLNfinancial
0.7 billionPLNother personal
0.6 billion PLNother
0.2 billion PLNM.A.T.
12
Figure 7. Claims and benefits paid (PLN billion)
INSURANCE IN FIGURES 2019 INSURANCE MARKET IN POL ANDIN
SURANCE IN
FIGURES 2019 INSURAN
CE MARK
ET IN POLAN
D
15 VI. MOTOR THIRD PARTY LIABILITY INSURANCE
1 189 674
˜5
25 282 812
handled claims
vehicles in 100 with reported damage
policies
7 767 average damage amount
PLN
805 203
˜11
7 100 834
handled claims
vehicles in 100 with reported damage
policies
6 886 average damage amount
PLN
14VII. MOTOR HULL INSURANCE
INSURANCE IN FIGURES 2019 INSURANCE MARKET IN POL ANDIN
SURANCE IN
FIGURES 2019 INSURAN
CE MARK
ET IN POLAN
D
1716
VIII.NUMBER OF NON-LIFE INSURANCE POLICIES
25 282 812
7 100 834
5
number of motor hull insurance policies at the end of 2019
number of motor third
party liability insurance policies at
the end of 2019
4 229 273total number of all
non-life insurance policies at the end of 2019
IX. COMPULSORY AGRICULTURAL INSURANCE
1 7257611 497460
policies
compulsory farm buildings insurance
policies
compulsory farmers’ third-party liability insurance
16
INSURANCE IN FIGURES 2019 INSURANCE MARKET IN POL ANDIN
SURANCE IN
FIGURES 2019 INSURAN
CE MARK
ET IN POLAN
D
19 X. HE ALTH INSURANCE
893.6 millionPLN
6 thousand021number of private health insurance policyholders
private health insurance gross written premium
3 .
XI. BANC A SSURANCE
4.8 billionPLN
life premium from the bancassurance channel
22.5%bancassurance
share in life premium
2.1 billionPLN
non-life premium from the bancassurance channel
18
INSURANCE IN FIGURES 2019 INSURANCE MARKET IN POL ANDIN
SURANCE IN
FIGURES 2019 INSURAN
CE MARK
ET IN POLAN
D
2120 XII. INSURANCE ACTIVITY TECHNICAL RESULT
Figure 8. Life insurance technical result (PLN billion) Figure 9. Non-life insurance technical result (PLN billion)
Source: Polish Chamber of Insurance, Polish Financial Supervision Authority Source: Polish Chamber of Insurance, Polish Financial Supervision Authority
0
1.0
2.0
3.0
4.5
2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
3.23.1
2.92.8
3.3
3.1
3.3
3.6
4.3
3.03.0
-1.5
-0.75
0
0.75
1.5
2.25
3
2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
2.93.0
2.1
0.4
0.2
0.8
1.3
0.7
0.3
-1.3
-0.2
INSURANCE IN FIGURES 2019 INSURANCE MARKET IN POL ANDIN
SURANCE IN
FIGURES 2019 INSURAN
CE MARK
ET IN POLAN
D
23
Figure 10. Net financial result of life insurance companies in Poland (PLN billion) Figure 11. Net financial result of non-life insurance companies in Poland (PLN billion)
22 XIII. INSURANCE ACTIVITY FINANCIAL RESULT
Source: Polish Chamber of Insurance, Polish Financial Supervision Authority Source: Polish Chamber of Insurance, Polish Financial Supervision Authority
0
1
2
3
4
2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
2.6
2.42.3
2.2
3.03.0
2.8
3.02.9
3.7
4.0
0
1.75
3.5
5.25
7
2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
4.6
4.2
3.5
1.9
2.6
3.7
6.1
3.33.13.1
2.6
INSURANCE IN FIGURES 2019 INSURANCE MARKET IN POL ANDIN
SURANCE IN
FIGURES 2019 INSURAN
CE MARK
ET IN POLAN
D
2524
24 XIV. INSURANCE COMPANIES’ INVESTMENTS
Figure 12. Investments of life insurance companies (PLN billion)
Source: Polish Chamber of Insurance, Polish Financial Supervision Authority Source: Polish Chamber of Insurance, Polish Financial Supervision Authority
0
90
85
95
100
2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
89.4
90.4
99.8
97.897.2
99.2
95.3
94.4
84.8
89.7
83.8
Figure 13. Investments of non-life insurance companies (PLN billion)
0
20
40
60
80
2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
79.577.1
72.2
63.062.4
59.1
53.451.8
45.5
41.543.1
INSURANCE IN FIGURES 2019 INSURANCE MARKET IN POL ANDIN
SURANCE IN
FIGURES 2019 INSURAN
CE MARK
ET IN POLAN
D
27
Figure 15. Equity of non-life insurance companies (PLN billion)
2626
XV. INSURANCE COMPANIES’ EQUITY
Source: Polish Chamber of Insurance, Polish Financial Supervision Authority Source: Polish Chamber of Insurance, Polish Financial Supervision Authority
Figure 14. Equity of life insurance companies (PLN billion)
0
5
10
15
2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
11.511.4
11.912.2
12.4
13.012.8
14.8
12.813.2
13.5
0
5
10
15
20
25
30
2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
28.6
26.2
24.7
21.921.721.6
20.621.4
18.217.6
15.6
INSURANCE IN FIGURES 2019 INSURANCE MARKET IN POL ANDIN
SURANCE IN
FIGURES 2019 INSURAN
CE MARK
ET IN POLAN
D
28
1
8
14 17 thousand
28.7 thousand
1Polish branch of foreign reinsurer
26 30Polish branches of foreign non-life insurers
33
Polish branches of foreign life insurers
1 448
237
.1 .4 thousand
.6 thousandexclusive agents (2018)
independent agents (2018)
average annual employment in insurance companies (2018)
reinsurance company
life insurance companies, including 3 mutual insurance societies
non-life insurance companies, including 9 mutual insurance societies
insurance and reinsurance brokers (2018)
persons carrying out agency activities
Source: Polish Chamber of Insurance, Polish Financial Supervision Authority, Polish Statistical Office
2828
XVI. INSURANCE AND REINSURANCE COMPANIES, BROKERS AND AGENTS NOTES29
INSURANCE IN FIGURES 2019 INSURANCE MARKET IN POL AND
Polish Chamber of Insurance00-105 Warszawa, ul. Twarda 18
tel.: +48 22 420 51 [email protected]
www.piu.org.pl