2020 with a record high bond premium of PLN 43 million
The bond segment of KUKE’s business generated PLN 42.9 million of gross written premiums in 2020. This is the best result in the KUKE’s history, 21 percent higher than in the previous year.
Taken together with the record sum of PLN 131.5 million in remuneration for the trade receivables insurance granted last year, this gives close to PLN 175 million in collected insurance premiums. Over the past three years, the premium from the guarantees provided for domestic trade and exports has almost doubled.
The pandemic adversely affected the insurance guarantee market, which stagnated last year. That being the case, it is another year in a row that KUKE managed to remain highly active in the sector, clearly increasing its revenues. This is because we continued extensive cooperation with numerous infrastructural investment contractors within the country, who were building the next sections of roads or railway lines, among others, and we also greatly intensified our involvement in providing support to Polish firms from various industries that are executing projects and ventures abroad. In effect, we reinforced our position on the guarantee market, joining the group of leaders in this sector. Last year, we additionally extended our instruments offering, introducing the most extensive package of environmental guarantees on the market, Janusz Władyczak, KUKE President and CEO sums up.