• Every hour claimants of automotive liability insurances receive almost PLN 600,000 in compensation
• On average, every 32 seconds an event takes place in Poland which involves payments on the account of Third Party Insurance
• On average, every hour life insurers pay out over PLN 2.8 million of benefits
According to data collected by PIU, in the first three quarters of 2012 property insurance companies paid out their clients over PLN 10.5 billion PLN in compensation. Life insurance claims amounted to over PLN 18.7
Automotive insurance market
In the first three quarters of 2012, insurance companies paid out their clients over PLN 3.9 billion PLN in compensation
for motor vehicle liability insurance and PLN 2.58 billion for accident and theft insurance. A slight increase
in total pay outs (2.38%) of Third Party Insurance claims can be observed while accident and theft insurance compensations are still decreasing
(8.5%). The decrease is not, however, as visible as three months earlier, when it exceeded 10 percent.
Additionally, comparing the first three quarters of 2011 and 2012:
• 1.38% more accident and theft insurance policies were bought;
• 2.68% more Third Party insurance policies were bought;
• Average compensation on the account of Accident and theft insurance amounted to PLN 4.750 compared with PLN 4.559 a year earlier;
• Average compensation on the account of Third Party Insurance amounted to PLN 5.369 compared with PLN 4.928 a year earlier;
• The number of accident and theft insurance claims reached a total of PLN 543,000 compared to PLN 618,000 a year earlier;
• The number of Third Party Insurance claims reached a total of PLN 731,000 compared to PLN 778,000 a year earlier;
– In Third Party Insurances, we are witnessing a constant increase of insurers’ liabilities
despite a noticeable decrease in the number of claims. A year by year comparison especially in the
the long-term perspective, clearly shows increase in the average amount of compensation paid. “The decrease in damage for a change derives from the fact that so far the weather this year has been quite
good”, says Jan Grzegorz Prądzyński, CEO of PIU. After the first three quarters 2012:
PLN 6.58 million in Third Party Insurance premiums were paid in, which is 7% more compared with a year earlier. Accident and theft insurance
premiums amounted to PLN 4.2 billion, which is 0.65% more than the year before.
Property insurance market (without automotive insurances)
Data after the third quarter already includes damage related to recent weather disasters,
above all hail. We must also remember that the data covers damage
in agricultural fields which took place at the beginning of the year. Thus, a very large increase in compensations paid
in group 9. (other damage in properties), which amounted to PLN 1.15 billion PLN that is 47.5% more than the year
Life insurance market
Life insurance claims remained decreased insignificantly in comparison to last year
and amounted to PLN 18.7 billion. Majority of payments are related to group I (although they are fewer than a year earlier),
which can be linked to the period of short-term deposit contracts conclusion.
Life insurance claims with insurance capital fund have increased, amounting to PLN 4.8 billion PLN, which is 14.5% more
than the year before. Written premiums of these products have increased on a similar rate. They amounted to PLN 8.9 billion
, which is 16.5% more than after the Q3 in 2011.
Total written premiums for life insurance at the end of the Q3 of 2012 came up to
PLN 27.2 billion, which is over 10% more than last year.
Net financial result
Property insurance companies closed the first three quarters of 2012 with PLN 2.9 billion profit, which is 1.23%
less than last year. Life insurers recorded a profit increase — their
net financial result came up to PLN 2.6 billion, which is over 14% more than last year.