Motor insurers in Poland in the first half of 2024 generated PLN 8.85 bn ($2.1 bn) in premiums, marking a 10.42% increase year-on-year, according to the Insurance Guarantee Fund (UFG).
Domestic insurers led the MTPL market, collecting PLN 8.34 bn, which constitutes 94.22% of the total MTPL market and represents a 9.66% year-on-year increase.
PZU SA, the top performer in both the domestic and overall markets, gathered PLN 2.23 bn in MTPL premiums from January to June, up 5.84%. This accounts for 26.22% of the domestic segment.
Warta follows with PLN 1.87 bn, a 10.19% increase, equating to 22.46% of the domestic market. ERGO Hestia ranks third with PLN 1.5 bn, marking a 14.84% rise. Together, these three companies hold 66.71% of the domestic MTPL market.
Foreign insurers experienced a decline in the first half of the year, collecting PLN 154.8 mn, a 13.94% decrease year-on-year.
In contrast, insurers operating under the EU freedom to provide services saw a significant increase, amassing PLN 357.52 mn, a 54.01% rise.
Euroins AD led this group with PLN 118.73 mn, up 18.28%, while Zavarovalnica Triglav achieved PLN 100.13 mn, a 106.42% increase.
These two companies held 33.21% and 28.01% of the EU freedom to provide services segment, respectively, placing them 12th and 13th among the largest MTPL market players in Poland.
According to the Polish Chamber of Insurance, the number of active mandatory MTPL policies exceeded 27.7 million in Poland, while the number of settled claims reached 826 thousand, with an average claim amount of about PLN 9.5 thousand.
Over the past 10 years, a total of PLN 86.6 billion has been paid out, with the number of claims reaching nearly 11.6 million (almost 3.7 thousand claims per day).
The total premiums for MTPL over the last decade amounted to PLN 133 billion, with the average premium for MTPL ppm in Poland being 510 PLN (after Q3 2023).
In Poland, there is only one Motor Hull policy for every 4 MTPL policies. After three quarters of 2023, the number of active contracts under this insurance reached approximately 7.3 million, with 590 thousand claims settled.
In 2023, drivers of vehicles with foreign registration numbers caused 12.8 thousand accidents and collisions, according to the data of the Polish Motor Insurers’ Bureau (PBUK). This was almost at the same level as a year before, but nearly a quarter less than two years ago.
PBUK noted that the number of collisions and accidents caused by foreign drivers on Polish roads has remained in recent years on average at the level of about 15 thousand: in 2021 – 17 thousand, in 2022 – 12.7 thousand (-25.3%), and in 2023 – 12.8 thousand.
As the data of the Polish police show, in 2023 there were 22.8 thousand road accidents and 422.6 thousand collisions, which means that foreign drivers were responsible for slightly more than 3% of the total number of events.
