In Q1 2015, Polish insurers paid life insurance compensations and benefits worth PLN 5.2 billion and non-life insurance compensations and benefits worth PLN 3.5 billion.
Key data for Q1 2015.
- The total premium in the insurance market amounted to nearly PLN 14.3 billion (YoY increase by 2.9%)
- The total compensations and benefits paid amounted to PLN 8.7 billion (YoY decrease by 4.8%)
Motor insurance market
- The gross written premium on civil liability insurance (OC) amounted to PLN 1.9 billion (a decrease by 2.3%)
- The gross written premium on comprehensive Auto casco (AC) insurance amounted to PLN 1.4 billion (an increase by 2.1%)
- The technical loss on civil liability insurance (OC) amounted to PLN 59 million.
- The technical result on comprehensive Auto casco insurance (AC) amounted to PLN 7.5 million
- Compensations and benefits under civil liability insurance (OC) of land vehicles (including civil liability insurance of motor vehicle owners amounted to PLN 1.6 billion (an increase by 9.7%)
Non-life insurance market (exclusive of motor insurance)
- The total premium on non-life insurance (exclusive of motor insurance) amounted to PLN 3.8 billion and was by 4.6% higher than a year ago
- Insurance against fire and other natural disasters still have the biggest share in the premium on the non-life insurance market – over PLN 1 billion. However, YoY decrease of this share by 1.6% was reported
Life insurance market
- The total compensations and benefits paid under life insurance amounted to PLN 5.2 billion (a decrease by 10.8%)
- The value of the premium on life insurance increased by 3.7% to PLN 7.2 billion
- The value of the premium on insurance with ICF increased to PLN 3.5 billion (by 16%)
- The value of premiums on accident insurance is constantly growing (PLN 1.3 billion of premiums for the Q1 2015 – more than double growth during the last 5 years)
Net financial result
The net profit of life insurers for the Q1 2015 amounted to PLN 668 million and was by 6.1% higher than a year ago. Non-life insurers ended Q1 2015 with the profit of PLN 400 million (a decrease by 26%). The income tax due from Polish insurers for Q1 2015 amounted to PLN 262 million.