The insurance market grew by 7% in the first quarter of 2026. Poles purchased insurance worth PLN 23.9 billion (EUR 5.57 billion), out of which PLN 6.7 billion for life insurance (+13.3%) and PLN 17.2 billion for property insurance (+4.8%). The sector's financial result fell by PLN 80 million to PLN 2 billion (EUR 466.26 million).

"The market is maintaining a stable growth path. After a record-breaking 2025, which saw dynamic growth in both life and property insurance, this year may be more challenging, yet remain a favorable period for the sector. Geopolitics, macroeconomics, the race to utilize new technologies, and competition will have a direct impact on the sector's prospects. In the motor insurance segment, we are observing continued strong price competition, which puts pressure on the technical profitability of this business line. In the long term, the market will have to account for the systematic increase in the average value of motor third-party liability insurance claims, which will require appropriate adjustments to premium levels to actual risk," Adam USZPOLEWICZ, President of the Management Board of the Polish Insurance Association commented.

Gross written premiums in life insurance reached PLN 6.7 billion, representing a 13.3% increase year-on-year. This result was driven by an 85.7% increase in single premiums, while regular written premiums increased by 7.1%. The high increase in single premiums is primarily a positive rebound from the negative impact of Recommendation U on 2025 results.

Motor insurance remained the largest line of non-life business. The number of policies grew both for MTPL and Motor Hull insurance, Gross written premiums for MTPL insurance reached PLN 4.8 billion (EUR 1.13 billion), while Motor Hull premiums totaled PLN 3.8 billion (EUR 877.7 million), showing a modest 0.5% increase.

Claims payments continued to rise significantly. MTPL compensation and benefits amounted to PLN 3.4 billion (EUR 797.8 million), up 9.2% y-o-y, while Motor Hull claims increased by 13.4% to PLN 2.5 billion (EUR 586.96 million).

Although the average MTPL premium stood at PLN 551, slightly down by 0.7% compared with the previous year, the average claim severity increased by 6.4% to PLN 11,600. At the same time, claim frequency remained broadly stable at around 3% annually.

In property insurance (Classes 8 and 9 – fire, natural catastrophe and other property damage insurance), gross written premiums increased by 4.5% to PLN 3.5 billion (EUR 821.7 million). Claims payments totaled PLN 1.3 billion (EUR 311.3 million), slightly down by 0.5% compared with the same period of 2025.

The insurance industry's net profit amounted to PLN 2.0 billion (EUR 466.26 million) in the first quarter of 2026, down by PLN 80 million y-o-y. Life insurers generated PLN 800 million in profit, broadly unchanged from the previous year, while the non-life sector posted PLN 1.2 billion, a decrease of PLN 82 million.

Commenting on the results, Adam Uszpolewicz noted that lower investment income in life insurance was influenced by geopolitical tensions in the Middle East and uncertainty across financial markets. He added that, unless the conflict escalates significantly, its impact on insurers' investment performance is expected to diminish in the coming quarters.