Financial results of insurance companies in 2023
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The overall net financial result of insurance companies in 2023 was more favorable than a year ago and amounted to PLN 9.5 billion. This was due to a better result obtained by both life insurance companies (Branch I) and non-life insurance companies (Branch II).
Earned premium was the dominant item in the total income structure. In 2023, the total gross written premium amounted to PLN 78 889.0 million (an increase of 9.1% compared to 2022), of which PLN 22 847.8 million was the premium of life insurance companies, and PLN 56 041.2 million of non-life insurance. Claims incurred constituted the dominant position in the total cost structure. Total gross claims paid in 2023 amounted to PLN 44 239.4 million and decreased by 0.3% compared to 2022; in Branch I they decreased to PLN 16 229.3 million (by 14.0% y/y), and in Branch II their value increased to PLN 28 010.1 million (by 9.8% y/y).
