Język Polski
English
Published
:
2021-12-30
The Impact of the Covid-19 Pandemic on the Operations of Insurance Companies PZU and ERGO Hestia
Paulina Zielińska
Abstract
The COVID-19 pandemic affected every sphere of life, including the economy. The presence of the virus poses a risk to health and calls for new solutions in the field of life insurance in Poland and in the world. The article analyses how two leading insurance companies in Poland - Powszechny Zakład Ubezpieczeń (PZU) and ERGO Hestia - functioned during the pandemic. The author compares the operations of both companies in the period before and during the pandemic, taking into account their key financial indicators. Both companies demonstrated awareness of the sudden change in circumstances by offering special insurance protection for customers and their relatives and by taking steps to promote safety, psychological support and limit direct personal contacts. However, the insurance sector, like other industries, was negatively affected by the pandemic, which cause a decline in the claims ratio, particularly as regards motor third party liability insurance. However, despite slight declines in some indicators, the general financial standing of both insurance companies, was satisfactory.(original abstract)Keywords:
Pandemic, COVID-19, Life insuranceDetails
References
Statistics
Authors
Citation rules
Zielińska, P. (2021). The Impact of the Covid-19 Pandemic on the Operations of Insurance Companies PZU and ERGO Hestia. Zeszyty Naukowe Wyższej Szkoły Bankowej W Poznaniu, 95(4). https://doi.org/10.5604/01.3001.0015.9359