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Insurance sector: net financial result up by 1.7% in 2010


The net financial result of the insurance sector amounted to just over PLN 6.74bn (approx. €1.7bn) in 2010, which translates into an increase of 1.7% compared with the year before, according to figures from the Financial Supervisory Commission (KNF). This came on the back of a 5.5% rise in gross written premiums, to just under PLN 54.2bn (€13.6bn).

Gross written premiums at life insurance firms increased by 3.8% to over PLN 31.4bn (€7.9bn), whereas non-life insurers reported a 8% increase in gross premiums to over PLN 22.7bn (€5.7bn).

At the end of December, insurance companies operating in Poland had assets worth a total of PLN 145.1bn (€36.3bn), up by 4.4% on a year earlier.

There were 30 life-insurers operating in Poland at the end of 2010, of which 23 had majority foreign ownership. Of the 33 non-life insurers, 22 were foreign-owned.

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