Insurance in figures 2019 · Finland Austria Norway Poland Portugal Czech Republic Greece Hungary...

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


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


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


10


SURANCE IN


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.


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


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


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)


SURANCE IN


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


SURANCE IN


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


SURANCE IN


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


SURANCE IN


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)


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


SURANCE IN


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


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


SURANCE IN


CE MARK

ET IN POLAN

D

2524

24 XIV. INSURANCE COMPANIES’ INVESTMENTS

Figure 12. Investments of life insurance companies (PLN billion)


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


SURANCE IN


CE MARK

ET IN POLAN

D

27

Figure 15. Equity of non-life insurance companies (PLN billion)

2626

XV. INSURANCE COMPANIES’ EQUITY


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


SURANCE IN


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

Insurance in figures 2019 · Finland Austria Norway Poland Portugal Czech Republic Greece Hungary...

Documents

Transcript of Insurance in figures 2019 · Finland Austria Norway Poland Portugal Czech Republic Greece Hungary...