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Investment Activities of Polish Insurance Companies Before and After Solvency II

Daniel Szaniewski
Daniel Szaniewski
   | Dec 30, 2021
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Published Online: Dec 30, 2021
Page range: 229 - 242
DOI: https://doi.org/10.2478/fman-2021-0018
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© 2021 Daniel Szaniewski, published by Sciendo
This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License.

Figure 1

Life insurance companies' investments(Source: Own study based on data from Komisja Nadzoru Finansowego)
Life insurance companies' investments(Source: Own study based on data from Komisja Nadzoru Finansowego)

Figure 2

The structure of investments in land and buildings of life insurance companies(Source: Own study based on data from Komisja Nadzoru Finansowego)
The structure of investments in land and buildings of life insurance companies(Source: Own study based on data from Komisja Nadzoru Finansowego)

Figure 3

The structure of investments in subordinated undertakings of life insurance companies(Source: Own study based on data from Komisja Nadzoru Finansowego)
The structure of investments in subordinated undertakings of life insurance companies(Source: Own study based on data from Komisja Nadzoru Finansowego)

Figure 4

The structure of investments in other financial investments of life insurance companies(Source: Own study based on data from Komisja Nadzoru Finansowego)
The structure of investments in other financial investments of life insurance companies(Source: Own study based on data from Komisja Nadzoru Finansowego)

Figure 5

Non-life insurance companies' investments(Source: Own study based on data from Komisja Nadzoru Finansowego)
Non-life insurance companies' investments(Source: Own study based on data from Komisja Nadzoru Finansowego)

Figure 6

The structure of investments in land and buildings of non-life insurance companies(Source: Own study based on data from Komisja Nadzoru Finansowego)
The structure of investments in land and buildings of non-life insurance companies(Source: Own study based on data from Komisja Nadzoru Finansowego)

Figure 7

The structure of investments in subordinated undertakings of non-life insurance companies(Source: Own study based on data from Komisja Nadzoru Finansowego)
The structure of investments in subordinated undertakings of non-life insurance companies(Source: Own study based on data from Komisja Nadzoru Finansowego)

Figure 8

The structure of investments in other financial investments of non-life insurance companies(Source: Own study based on data from Komisja Nadzoru Finansowego)
The structure of investments in other financial investments of non-life insurance companies(Source: Own study based on data from Komisja Nadzoru Finansowego)

Life insurance companies' investments (Source: Own study based on data from Komisja Nadzoru Finansowego)

Specification 2014 2015 2016 2017 2018 2019 2020
Year
Investments 45,182 41,778 40,835 40,667 39,550 40,333 41,241
I. Land and buildings 321 310 273 263 234 231 231
  1. Own land and right for perpetual use of land 95 93 100 101 84 84 84
  2. Buildings and cooperative property ownership 218 207 171 160 148 146 145
  3. Building investments and advances for these investments 8 9 2 2 2 1 2
II. Investments in subordinated undertakings 2,080 1,711 1,792 1,929 1,917 1,842 1,886
  1. Shares or participating interests in subordinated undertakings 2,055 1,711 1,792 1,929 1,917 1,842 1,886
  2. Debt securities issued by, and loans to, subordinated undertakings 25 0 0 0 0 0 0
  3. Other investments 0 0 0 0 0 0 0
III. Other financial investments 42,781 39,757 38,771 38,476 37,399 38,260 39,124
  1. Shares, participating interests, and other variable-yield securities, units, and investment certificates in investment funds 7,117 7,389 8,455 7,253 6,854 6,328 6,556
  2. Debt securities and other fixed-income securities 29,672 27,485 27,430 28,064 27,246 28,322 29,739
  3. Participation in investment pools 0 0 0 0 0 0 0
  4. Loans guaranteed by mortgages 284 273 271 341 0 0 0
  5. Other loans 1,077 1,279 332 379 1,257 1,424 1,472
  6. Deposits with credit institutions 4,328 3,018 2,077 2,406 1,999 2,170 1,336
  7. Other investments 303 312 207 32 42 15 22
IV. Deposit debtors from ceding undertakings 0 0 0 0 0 0 0

Non-life insurance companies' investments (Source: Own study based on data from Komisja Nadzoru Finansowego)

Specification 2014 2015 2016 2017 2018 2019 2020
Year
Investments 59,116 61,933 63,134 72,156 77,141 79,502 88,904
I. Land and buildings 967 943 849 846 826 804 774
  1. Own land and right for perpetual use of land 92 89 72 81 81 61 57
  2. Buildings and cooperative property ownership 873 850 773 761 736 729 696
  3. Building investments and advances for these investments 1 4 4 4 9 14 21
II.Investments in subordinated undertakings 8,475 9,978 11,469 18,607 17,877 18,416 18,149
  1. Shares or participating interests in subordinated undertakings 8,234 9,261 10,958 17,691 17,396 17,817 17,460
  2. Debt securities issued by, and loans to, subordinated undertakings 239 376 511 439 459 547 605
  3. Other investments 1 342 0 477 22 52 84
III. Other financial investments 49,669 51,005 50,809 52,697 58,426 60,267 69,962
  1. Shares, participating interests and other variable-yield securities, units, and investment certificates in investment funds 15,902 16,414 9,046 9,396 9,784 9,640 10,107
  2. Debt securities and other fixed-income securities 26,141 28,935 37,490 39,409 44,353 47,857 57,597
  3. Participation in investment pools 0 0 0 0 0 0 0
  4. Loans guaranteed by mortgages 684 941 975 976 23 23 18
  5. Other loans 2,983 1,095 820 890 1,856 1,301 1,396
  6. Deposits with credit institutions 3,694 3,341 2,270 1,762 2,326 1,375 820
  7. Other investments 265 279 209 263 84 70 25
IV. Deposit debtors from ceding undertakings 5 6 6 7 12 15 19
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