2014-01-03 11:51:14 - New Financial Services market report from Business Monitor International: "Poland Insurance Report Q1 2014"
Poland remains the key market in Central and Eastern Europe. Both of the major segments are substantial by most yardsticks. The market is open to major foreign companies, whose interest in the opportunities has been growing over the last year or so.
As of late 2013, it remains obvious that Poland is, with the possible exception of the Czech Republic, the largest market in Central and Eastern Europe and one which is too large to ignore.
The latest data and comments from the leading insurance companies suggest that the boom in sales of single-premium insurance products to individuals through the bancassurance channel has gone into reverse. Nevertheless, demand for other products remains resilient. There is every chance that life insurance's role as
a conduit for organised savings will continue to grow through the forecast period.
In contrast to other countries in Central and Eastern Europe, premiums are also growing at respectable rates - and for most companies - in the non-life segment. A number of positive factors, such as higher rates and the introduction of new products, are at work. The implication is that difficult economic conditions have not had the impact that might have been expected. Many companies benefited from lower claims in 2012 relative to 2011. However, as has been well documented, flooding and natural catastrophes took their toll in H113
Full Report Details at
The consolidation of the sector paused in 2013. In early 2012, Talanx emerged as a new and significant force through its acquisition of Warta and Europa, from KBC and Getin Holding respectively. In mid-2012, VIG completed its acquisition of the specialist life insurer Polisa. VIG has also completed the integration of two of its non-life businesses, Interrisk and PZM.Taking the longer term view, we note that the competitive landscape remains fragmented: consolidation will likely resume in the coming years.
Report Table of Contents:
BMI Industry View
- Table: Total Premiums 2010-2017
- Business Environment
- Table: Total Life Premiums 2010-2017
- Table: Total Non-Life Premiums 2010-2017
Industry Risk Reward Ratings
- Central and Eastern European Risk/Reward Ratings
- Table: Central And Eastern Europe Risk/Reward Ratings
- Poland Insurance Risk Reward Ratings
- Table: Poland Insurance Risk/Reward Rating
- Life Sector Update
- Non-Life Sector Update
Industry Trends And Developments
- Life Growth Drivers and Risk Management Projections
- Table: Insurance Key Drivers, Demographics, 2010-2017
- Non-Life Growth Drivers and Risk Management Projections
- Macroeconomic Outlook
- Table: Poland - Economic Activity, 2008-2018
- Political Stability Outlook
- Table: Europe Regional Security Ratings (scores out of 100, with 100 the best)
- Healthcare Sector
- Health Insurance
- Table: Insurance key drivers, disease adjusted life years, 2010-2017
- Table: Insurance Key Drivers, Autos 2010-2017
- Central And Eastern Europe Competitive Landscape
- AXA Group
- Powszechny Zaklad Ubezpieczen (PZU)
- Talanx AG
- UNIQA Group
- Vienna Insurance Group (VIG)
- Central & Eastern Europe - Life
- Table: Central And Eastern European Life Premiums, 2010-2017 (US$mn)
- Central & Eastern Europe - Non-Life
- Table: Central And Eastern Europe - Non-Life Premiums US$mn, 2010-2017
- Table: Poland's Population By Age Group, 1990-2020 ('000)
- Table: Poland's Population By Age Group, 1990-2020 (% of total)
- Table: Poland's Key Population Ratios, 1990-2020
- Table: Poland's Rural And Urban Population, 1990-2020
- Industry Forecast Methodology
- Risk/Reward Rating Methodology
- Table: Insurance Risk/Reward Ratings Indicators
- Table: Weighting Of Indicators
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