PIU: insurers’ net profit up in 2018

The net profit of life insurers last year amounted to PLN 2.4 billion and was 7.6 percent higher than in 2017. Property insurers ended last year with a profit of PLN 4.1 billion (increase of 18.5 percent y/y), the Polish Chamber of Insurance (PIU) said.

In 2018, insurers covered almost PLN 42 billion in damages, 4.7 percent more than a year earlier. Motor insurance last year accounted for almost PLN 14 billion in damages. PIU’s vice president Andrzej Maciążek said that the industry needs to prepare for more frequent violent weather phenomena in the near future. (ISBnews)