Insurers paid out almost PLN 40 billion worth of compensation

In 2020, Poles received PLN 39.7 billion worth of insurance compensation and benefits. Despite the pandemic, clients don’t give up insurance coverage.

‘In 2020, Poles spent around PLN 63.5 billion on insurance, which is nearly the same as in the previous year. It is crucial for clients to remain covered because the pandemic does not mean that ordinary, everyday claims happen less frequently’, says Jan Grzegorz Prądzyński, President of the Management Board of the Polish Chamber of Insurance (PIU).
‘In 2020, insurers paid almost the same amount of compensation and benefits as in the previous year. The difference does not exceed 3.5%. The value of motor insurance-related payments was very similar to that of 2019, despite lower vehicle traffic. While the average premium for motor third-party liability insurance decreased from PLN 523 to PLN 500, the value of the average claim increased from PLN 7,800 to PLN 8,200’, says Andrzej Maciążek, Vice-President of the PIU Management Board.
‘As far as life insurance is concerned, the results unfortunately reflect the increased mortality in Poland in 2020.

The value of benefits from life protection insurance increased by more than 10% year-on-year’, says Jan Grzegorz Prądzyński.

KEY 2020 DATA:

  • PLN 39.7 billion for injured persons, including:
    • PLN 17.4 billion from life insurance (including 10% higher payments from protection insurance)
    • PLN 4.5 billion from motor insurance (third-party liability insurance + motor hull insurance)
    • About PLN 7.8 billion from other insurance
  • Insurers invested nearly PLN 87 billion worth of assets in domestic bonds and other fixed-income securities supporting the economy and public finance
  • Almost PLN 17 billion worth of assets were invested in shares of WSE companies and other variable-income securities


Polish insurers earned a net profit of PLN 6 billion, i.e. 15.6% less than in the previous year. They paid more than PLN 1.4 billion of income tax to the State budget. ‘By alleviating business cycles and being a long-term investor, insurers play a special role in the economy. They insure PLN 575 billion worth of trade turnover, which enables businesses to function efficiently during the pandemic. Insurers also have a very strong capital position, which means they can operate safely despite economic fluctuations’, concludes Jan Grzegorz Prądzyński.


In 2020, the insurance industry was heavily involved in helping to fight the pandemic. In April, PIU prepared 14 recommendations for clients in financial distress. These were addressed to vehicle owners, borrowers and holders of savings and investment policies, over 4,000 tour operators, several thousand businesses involved in claims adjustment, as well as doctors and paramedics.

In November 2020, 18 insurance companies decided to finance an additional call centre for the Chief Sanitary Inspectorate. As a result, for six months, 100 additional consultants were available to people seeking information related to the pandemic and the coronavirus infection. The following companies were involved in the project: Allianz, Aviva, Axa, Compensa, Credit Agricole Ubezpieczenia, Ergo Hestia, Generali, Interrisk, MetLife, PKO Ubezpieczenia, PZU Group, Saltus, TUW TUW, Uniqa, Unum, Vienna Life, Warta and Wiener. ‘Our role in society is to provide aid in the most difficult life situations’, emphasises Jan Grzegorz Prądzyński.