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Life Insurance in Poland, Key Trends and Opportunities to 2018, New Report Launched

The report provides in-depth market analysis, information and insights into the Polish life insurance segment, including:

  • The Polish life insurance segment’s growth prospects by life insurance category
  • Key trends and drivers for the life insurance segment
  • The various distribution channels in the Polish life insurance segment
  • The detailed competitive landscape in the life insurance segment in Poland
  • Detailed regulatory policies of the Polish insurance industry
  • Analysis of various consumer segments in Polish life insurance
  • Key developments in the Polish life insurance segment
  • New products launched by Polish life insurers

In terms of GDP at current prices in 2013, Poland ranked eighth in the EU. The country’s GDP growth declined from 5.1% in 2008 to 1.8% in 2009 due to the global financial crisis. While many countries in Europe region were badly affected by the crisis which led to declines in their economies in 2009, Poland’s economy grew by 1.8%. The Polish insurance industry was the largest in the Central and Eastern European and Baltic region. However, both the life and non-life insurance segments were dominated by foreign companies. Life insurance was the largest segment in Poland in 2013, accounting for 53.3% of the industry’s total value, while the non-life segment accounted for 41.1%. Life insurance accounted for 66.5% of the total paid claims in 2013, while the non-life segment accounted for 30.6%. Despite a decline in gross written premium in 2009, due to the global financial crisis and a reduction in the demand for insurance and investment products, the industry recovered following 2010. The industry’s gross written premium increased, at a review-period (2009–2013) compound annual growth rate (CAGR) of 3.0%. This growth was supported by the personal accident and health insurance segment, which registered the fastest CAGR of 8.9%.

Scope

This report provides a comprehensive analysis of the life insurance segment in Poland:

  • It provides historical values for the Polish life insurance segment for the report’s 2009–2013 review period, and projected figures for the 2013–2018 forecast period.
  • It offers a detailed analysis of the key categories in the Polish life insurance segment, along with market forecasts until 2018.
  • It covers an exhaustive list of parameters, including written premium, incurred loss, loss ratio, commissions and expenses, combined ratio, frauds and crimes, total assets, total investment income and retentions.
  • It analyses the various distribution channels for life insurance products in Poland.
  • It profiles the top life insurance companies in Poland and outlines the key regulations affecting them.

Reasons to Buy

  • Make strategic business decisions using in-depth historic and forecast market data related to the Polish life insurance segment and each category within it.
  • Understand the demand-side dynamics, key market trends and growth opportunities in the Polish life insurance segment.
  • Assess the competitive dynamics in the life insurance segment.
  • Identify the growth opportunities and market dynamics in key product categories.
  • Gain insights into key regulations governing the Polish insurance industry and their impact on companies and the industry’s future.

Key Highlights

  • The Polish life segment is highly concentrated, with the 10-leading insurers accounting for 81.6% of the segment’s gross written premiums in 2013.
  • Life insurance was the largest segment in Poland in 2013, accounting for 53.3% of the industry’s total gross written premiums.
  • The penetration rate for Polish life insurance was 1.86% in 2013, significantly lower than the UK’s 8.68% and France’s 5.57%.
  • The segment’s leading distribution channels include bancassurance, direct marketing and agencies, which together accounted for 92.3% of the gross written premium from new business in 2013.
  • Although Poland joined the EU in 2004, it has not yet adopted the euro. Prior to joining eurozone, the country made changes to its constitution which specified that only the National Bank of Poland had the authority to issue currency.
  • The growth of life segment is largely dependent on the country’s employment rate. A fall in employment may lead to a decline in the uptake of both group (taken by corporate houses) and individual insurance.

Spanning over 303 pages, Life Insurance in Poland, Key Trends and Opportunities to 2018” report covering the Key Facts and Events, Executive Summary, Introduction, Polish Insurance Industry Attractiveness, Life Insurance Outlook, Analysis by Distribution Channel, Governance, Risk and Compliance, Competitive Landscape and Strategic Insights, Appendix – 1, Appendix – 2. The report covered companies are – PZU Życie SA, Open Life Tu Życie SA, Tunż Warta SA, ING Tunż SA, Amplico Life SA, Aviva Tunż SA, Tu na Życie Europa SA, Benefia Tu na Życie SA, Nordea Polska Tu na Życie SA, Axa Życie Tu SA.

For more information see – http://mrr.cm/434

Related report

1st- Non-Life Insurance in Poland, Key Trends and Opportunities to 2018 – visit at: http://mrr.cm/43o

2nd- Personal Accident and Health Insurance in Poland, Key Trends and Opportunities to 2018 – visit at: http://mrr.cm/43J

3rd- Reinsurance in Poland, Key Trends and Opportunities to 2018- visit at: http://mrr.cm/433

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