Financial results of insurance companies in 2020

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The overall net financial result of insurance companies (net profit) in 2020 was less favorable than a year ago and amounted to PLN 6.1 billion. Worse results were obtained by both life insurance companies (division I) and non-life companies (division II).

Earned premium was the dominant item in the total income structure. In 2020, the total gross written premium amounted to PLN 63 421.5 million (0.7% less than in 2019), of which PLN 20 745.6 million was the premium of life insurance companies, and PLN 42 675.9 million non-life insurance. Claims incurred constituted the dominant position in the total cost structure. Total gross claims paid in 2020 amounted to PLN 39 649.7 million and decreased by 3.5% compared to 2019, they decreased to PLN 17 415.9 million in life insurance, and to PLN 22 233.8 million in non-life insurance.