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Insurance sector: net financial result down by 9.2% in 2011


2012-03-13



The net financial result of the insurance sector amounted to just over PLN 6.13bn (approx. €1.5bn) in 2011, which translates into a decline of 9.2% compared with the year before, according to figures from the Financial Supervisory Commission (KNF).

Gross written premiums totaled PLN 57.1bn (€13.9bn) last year, up by 5.5% over 2010. Gross written premiums in the life insurance sector rose 1.4% to PLN 31.8bn (€7.7bn), whereas non-life insurers reported a 11.3% increase in gross premiums to PLN 25.3bn (€6.1bn).

At the end of December insurance companies operating in Poland had assets worth a total of PLN 146.1bn (€35.5bn), up 0.6% over a year earlier.

There were 29 life insurers operating in Poland at the end of 2011, of which 22 had majority foreign ownership. Of the 33 non-life insurers, 23 were foreign-owned.



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