Premiums written Poland

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Premiums written Poland (bar chart)


Outstanding premium growth of 27.6%

Vienna Insurance Group wrote total premiums of EUR 954.07 million in Poland in 2011 (2010: EUR 747.69 million). This was an increase of 27.6% over the previous year. Net earned premiums were EUR 889.06 million in 2011, 30.2% higher than in 2010.

The non-life area generated a premium volume of EUR 611.55 million in 2011 (2010: EUR 559.44 million), corresponding to an increase of 9.3% over the previous year. This gratifying increase was mainly due to a rate increase for motor vehicle insurance, the growing number of vehicles covered under existing fleet agreements, and the addition of new distribution partners.

Vienna Insurance Group companies in Poland increased their life insurance premium income from EUR 188.25 million in 2010 to EUR 342.52 million in 2011. Group life insurance and one-year endowment and term life policies, which recorded strong growth due to a tax privilege, made major contributions to the above-average gains in the life insurance segment.

Expenses for claims and insurance benefits

Vienna Insurance Group had expenses for claims and insurance benefits of EUR 651.01 million in Poland in 2011 (2010: EUR 454.85 million). This was an increase of EUR 196.16 million in expenses for claims and insurance expenses (less reinsurance). The increase was due to the strong growth recorded in the life insurance segment.

Acquisition and administrative expenses

The Polish companies had acquisition and administrative expenses of EUR 242.43 million in 2011, 4.6% below the previous year value of EUR 254.13 million. This decrease resulted from product line optimisation in the life insurance segment.

Profit before taxes of EUR 37.77 million

The Polish companies earned a profit before taxes of EUR 37.77 million in 2011. This corresponds to an outstanding increase of 56.2%. This increase was achieved due to a significant reduction in claims from natural catastrophes, and product line improvements made in both the property/casualty and life insurance segments.

Combined ratio reduced to slightly more than 100%

The combined ratio was 100.6% in Poland, slightly above the important 100% mark. Profitability in the underwriting part of the business did, however, increase significantly by 4.4 percentage points compared to the previous year (2010: 105.0%), primarily due to a decrease in natural catastrophe claims.

Vienna Insurance Group in Poland*

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PZM included since 2010.

in EUR million




Premiums written












Profit before taxes




This information
was audited by PWC
GmbH, Vienna on
March 12, 2012.