HomePoland Insurance Market Intelligence "The insurance industry of Poland has been recording astounding growth on account of the growing economy and developing industrial, construction and services sector. The growth registered in the premiums during the past few years is attributed to the increasing ownership of automobiles and investment in real estate, as well as the pro-growth rules and regulations of the government. Government reforms, increasing foreign investment in insurance, growth in nominal wages and salary and improved performance of life products, due to the growing financial markets, are among the few important drivers of the Polish insurance industry. In addition, the resultant rise in income and household expenditure in non-food categories, demand for investment-linked life products, improved sales channel (bancassurance) and awareness of insurance coverage and better returns continue to drive the growth of the domestic insurance market.
The life insurance segment is the largest part of the Polish insurance market since 2006 and has been exhibiting strong growth on account of increased demand for unit-linked insurance and life products, which offer high interest rates and tax exemption. In the non-life segment, motor insurance accounted for the largest market share in 2008. Both the life and non-life insurance segments of the Polish insurance industry are dominated by foreign players, which account for around 77% of the life insurance sector and around 80% of the non-life insurance business.
The present report gives an overview of Poland's insurance market along with an analysis of the country's political structure and economic growth. The report provides an insight into the market size and growth in insurance premiums as well as life and non-life premiums. Insurance premiums are discussed in terms of life and non-life segments and the density and penetration levels. The various developments and drivers are also discussed and finally the projections regarding premium growth are given."
By combining SPSS Inc.'s data integration and analysis capabilities with our relevant findings, we have predicted the future growth of Poland's insurance industry. We employed various significant variables that have an impact on this industry and created regression models with SPSS Base to determine the future direction of the industry and its sub-segments life and non-life insurance. Before deploying the regression model, the relationship between several independent or predictor variables and the dependent variable was analyzed using standard SPSS output, including charts, tables and tests.
Table of Contents :
1. Industry Snapshot
1.1 Industry Structure
1.1.1 Implementation of Act, Establishment of New Insurance Companies
1.1.2 Reforms, an Initiative to Develop a Modern Insurance Market
1.1.3 Integration of the Polish Insurance Market, Passing New Acts
1.1.4 Industry Segmentation in Terms of Branch
1.2 Market Overview
1.2.1 Market Size & Growth
1.2.1.1 Significant Growth in Premiums, Expanding Economy, Investment in Life Products, Investment in Real Estate
1.2.2 Market Segments
1.2.2.1 Shift in Dominance from Non-Life to Life Segment
1.2.2.2 Larger Growth in Life Segment, Better Performing Products, Unit-Linked Expansion
1.2.2.3 Motor Insurance Largest Part of Non Life Segment
1.2.2.4 Underdeveloped Private Medical Insurance Market
1.2.3 Market Density & Penetration
1.2.3.1 Increasing Density, High Demand in Life Segment
1.2.3.2 Increasing Penetration Rates, High Penetration Rate for Life Segment
1.2.4 Market Share
1.2.4.1 Dominance by Foreign Players
1.2.4.2 Non-Life More Concentrated than Life Segment
1.2.4.3 High Participation of Foreign Companies, Higher in Non-Life than in Life
2. Industry Analysis
2.1 Industry Developments
Amendments to Insurance Law
Bid for the Insurance Tender of UOKiK
Aviva (UK) Announces Partnership With Bank Zachodni WBK
2.2 Market Drivers
Expanding GDP
Growing Average Wages & Salaries
Increasing Passenger Car Sales
3. Country Analysis: Risk Assessment
3.1 Political Environment
3.2 Macro-Economic Indicators: Current and Projections
4. Industry Outlook: Forecast and Projections
4.1 Increased Available Income, Non-Food Investment Driving Insurance
4.2 Increasing Consumer Confidence and Stock Market Recovery to Boost Life Segment Demand
List of Tables
Poland Registered Passenger Car: 2002 ' 2008
Key Macroeconomic Indicators: (2008 ' 2013F)
List of Charts
Annual Premium ' Poland Insurance Industry: (2001 ' 2008)
Annual Premium ' Poland Insurance Industry: (1H09 vs. 1H08)
Insurance Premium Share (%) by Segment (2008)
Insurance Premium by Segment (2001 ' 2008)
Life Insurance Premium Share (%) by Segment (2008)
Non-Life Insurance Premium Share (%) by Segment (2008)
Poland Insurance Density (US$): (2001 ' 2008)
Poland Insurance Penetration: (2001 ' 2008)
Poland: Major Non-Life Insurer's Market Share: (2008)
Poland: Major Life Insurer's Market Share: (2008)
GDP Growth of Poland: (2001 ' 2008)
Poland: Average Wages & Salaries (US$) (2001 - 2008)
Forecast: Poland Insurance Industry: (2008A - 2012F)
Forecast: Poland Life & Non-Life Insurance Industry: (2008A - 2012F)
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