Abstract
The latest market research report by RNCOS "Poland Insurance Market Forecast
(2008-2012)" provides first-hand analysis of the Polish insurance sector and
helps clients to analyze the leading-edge opportunities critical to the
success of the insurance industry in Poland.
The forecast and estimation given in this report is not based on a complex
economic model, but is a rough guide to the direction in which the market is
likely to move.
Market Analysis
Led by the life insurance sector, the insurance industry in Poland is growing
rapidly. Total life insurance premium in the country amounted to PLN 21
Billion in 2006. The non-life sector, on the other hand, grew more slowly,
with total premiums in 2006 posting a rise of 4.85% in 2006 over a year
earlier.
Insurance companies in Poland are either state-owned or private, and many are
under control of international insurers. The country has some combined
banking/insurance groups also, but they have yet to play a significant role
in the Polish insurance market. The Polish insurance law restricts companies
to sell both life and general insurance that has prompted most general
insurance firms to establish separate life subsidiaries. Despite the entry of
many foreign companies, public sector insurance companies still dominate the
Poland' s insurance market.
Key Findings
- Gross life insurance premium in Poland is anticipated to grow at a CAGR of
nearly 23.34% for the period spanning from 2008 to 2012.
- Bancassurance is gaining popularity in life insurance market of Poland.
- Investment-linked insurance products dominate the Polish life insurance
market.
- The premium generated from this segment is projected to grow at a CAGR of
approx 33% during the forecast period (2008-2012).
- In Poland, gross non-life insurance premium is expected to expand at a
CAGR of around 7.6% from 2008 to 2012.
- Non-life insurance market was mainly driven by car insurance market.
- Motor insurance premium in the country is forecasted to hit a CAGR of
7.46% during 2008-2012.
- Booming real estate sector and mutual fund industry are two of the biggest
challenges for the Polish insurance market.
Key Issues & Facts
- Where does Poland stands in context of Central and Eastern European market?
- Why Poland is considered an attractive insurance market?
- What are the growing insurance segments in Poland?
- What are the opportunities areas in the Polish insurance market?
- What are the key issues that need to be addressed?
- What initiatives the Polish government is taking to promote its insurance
market?
Key Players
The major key players discussed in the report are Aegon, Allianz,
Amplico-Life, PZU and Warta.
Research Methodology Used
Information Sources
Information has been sourced from books, newspapers, trade journals, and white
papers, industry portals, government agencies, trade associations, monitoring
industry news and developments, and through access to more than 3000 paid
databases.
Analysis Methods
The analysis methods include ratio analysis, historical trend analysis, and
linear regression analysis using software tools, judgmental forecasting and
cause and effect analysis.
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