Insurers with 67.5% profit growth in Q1 - GUS

Net profit of insurers operating on the Polish market increased by 67.5 percent to PLN 1.02 billion in Q1 Central Statistics Office (GUS) informed. The overall performance of the industry was boosted by better-than-expected results from non-life insurers which amounted for PLN 484.9 million. In the property insurance sector, the gross premiums collected for communication policies amounted to PLN 5.4 billion and were higher by 39.3 percent y/y. The share of car insurance in the premiums stood at 21.4 percent, while the compulsory insurance of motor vehicles was at 38.5 percent.