Polish insurers with 25% increase in net profits in 2017 – KNF

According to the financial market regulator KNF data, Polish insurers will sport a 25.8 percent increase in net profits this year to PLN 5.25 billion. KNF made the calculations based on forecasts provided by insurers themselves. The property and casualty sector should grow by an impressive 324.94 percent, driven by gains in the corporate and SME segments. Automotive premiums will rise, although slower than in 2016. Life insurers expect the decline in gross written premiums to slow amid gains for regular premium savings products and health insurance, authors claimed. The industry minimal capital requirement will amount to 778.2 percent and a solvency capital requirement at 246.1 percent at end-2017, the report showed.