In contrast to the general economy, the insurance sector in Poland has hardly benefited from improving situation of households and corporate subjects. While the total gross premium written in non-life business advanced by 4%, the life insurance premium fell by 4% YoY in 2015. Key drivers of recent change in life premium have been changes to the regulatory and tax regime as well as external factors including ultra-low interest rates. The recent growth in non-life premium has been primarily a result of increasing tariffs in car insurance, which was an immediate effect of rapidly growing claims and substantial losses incurred on TPL policies.
For more information on recent developments in the Polish insurance sector, please refer to the full publication.
Table of contents
Slide 1: Executive summary
1. Macroeconomic overview Slide 2: Poland -General overview
Slide 3: Poland in Europe: Number of households vs. wealth, 2014
Slide 4: Key macroeconomic indicators, 2010-2015
Slide 5: Foreign trade statistics, C/A, FDI, 2010-2015
Slide 6: Unemployment and salaries/wages, 2010-2015
Slide 7: Disposable income in households and income distribution, 2010-2015; Income distribution 2014
Slide 8: Consumer confidence index evolution, 2011-Feb. 2016
Slide 9: Warsaw Stock Exchange -Turnover, Market cap. and indexes, 2010-2015
Slide 10: Top 12 foreign investors in banking sector and their subsidiaries, 2015
Slide 11: Banking assets evolution, 2010-2015
2. Insurance market Slide 12: Insurance Markets in CEE –Size vs. growth matrix, 2013-2015
Slide 13: Insurance premiums per capita & premiums/GDP penetration –CEE comparison, 2015
Slide 14: Insurance gross premiums -Local insurers (life/non-life, in EUR), 2011-2015
Slide 15: Insurance gross premiums -Local insurers (life/non-life, in PLN), 2011-2015
Slide 16: Number of locally registered insurance companies, foreign insurers, 2007-2015
Slide 17: Top 12 insurance groups in Poland by total premium written, 2015
Slide 18: Insurance market concentration and Herfindahl-Hirschman Index (life/non-life), 2015 vs. 2014
Slide 19: Solvency margin , own funds for life and non-life insurers, 2011-2015
Slide 20: Number of insurance agents by type and number of sales reps (OFWCA), 2011-2014
Slide 21: Insurance –Regulatory institutions, 2015
Slide 22: Insurance market –Key tax and regulatory initiatives affecting the sector, 2015/2016
Slide 23: Private health Insurance –Opportunity for insurers
3. Non-life insurance Slide 24: Non-life insurance markets in CEE –Size vs. growth matrix, 2013-2015
Slide 25: Non-life premiums per capita & premiums/GDP penetration –CEE comparison, 2015
Slide 26: Non-life insurance gross and net premium evolution, 2011-2015
Slide 27: Top 10 non-life insurance players in Poland, 2015
Slide 28: Market shares of top non-life players evolution, 2012-2015
Slide 29: Non-life premium by client type, 2015
Slide 30: Non-life premium by risk class, 2012-2015
Slide 31: Sales channels of non-life insurance, 2011-2014
Slide 32: Direct insurance –market overview, key players, 2010-2015
Slide 33: Link4 –Leader in direct sales in Poland -company profile, 2003-2015
Slide 34: Liberty Insurance –a “premium” direct player
Slide 35: Non-life insurers results, technical and P&L accounts, 2015
Slide 36: Non-life insurance -profitability tree, 2011-2015
Slide 37: Non-life insurance -claims and expense ratio evolution, 2011-2015
Slide 38: Non-life insurance -combined ratio and its elements, 2011-2015
Slide 39: Non-life insurance -acquisition costs evolution, 2013-2015, acquisition costs for top non-life insurers comparison, 2014
Slide 40: Network multi-agents: Consultia, CUK, Unilinketc.
Slide 41: Car insurance -premium and no. policies evolution, MTPL, Casco, 2011-2015
Slide 42: Car insurance -top players in MTPL and in Casco, 2013-2015
Slide 43: Car insurance -combined ratio and its elements, MTPL and in Casco, 2013-2015
Slide 44: Car insurance -average premium per policy for Casco and TPL, 1Q2012-4Q2015
Slide 45: Channels/product innovations: ERGO Hestia “You can drive”
4. Life insurance Slide 46: Life insurance markets in CEE –Size vs. growth matrix, 2013-2015
Slide 47: Life premiums per capita & premiums/GDP penetration –CEE comparison, 2015
Slide 48: Life insurance gross and net premiums evolution, 2011-2015
Slide 49: Top 10 life insurance players in Poland, 2015
Slide 50: Market shares of top life players evolution, 2013-2015
Slide 51: Life premium by risk class evolution, 2014-2015
Slide 52: Life insurance technical reserves evolution and structure, 2011-2015
Slide 53: Sales channels of life insurance, separately for individual life and group life, 2011-2014
Slide 54: Life insurers results, Technical and P&L accounts, 2015
Slide 55: Life insurance -profitability tree, 2011-2015
Slide 56: Life insurance -acquisition costs evolution, 2013-2015, acquisition costs for top life insurers comparison, 2014
5. Bancassurance& alternative sales channels Slide 57: Bancassurance: Premium written by bank channel (life/non-life), 2012-2014 –data by KNF vs. data by PIU
Slide 58: Bancassurance: Product/class split in bank channel (life/non-life), 2015
Slide 59: Bancassurance: Sales of investment type life products other than unit-linked, 2012-2015
Slide 60: Banking (operated by 3rd party) sales platform: „dbMarket Ubezpieczeniowy”
Slide 61: Bancassurance: Comparison websites and online sales sites of banks -overview
Slide 62: Comparison websites: „UBEA”
Slide 63: Comparison websites: „Rankomat”
6. Top players' profiles Slide 64: Non-life insurance: PZU, 2013-2015
Slide 65: Non-life insurance: Ergo Hestia, 2013-2015
Slide 66: Non-life insurance: Warta, 2013-2015
Slide 67: Life Insurance: PZU Życie, 2013-2015
Slide 68: Life Insurance: Aviva, 2013-2015
Slide 69: Life Insurance: MetLife, 2013-2015
7. Forecast Slide 70: Non-life insurance premiums forecast, 2016-2018
Slide 71: Life Insurance premiums forecast, 2016-2018
Slide 72: Notes on Methodology
Research Report: Insurance market in Poland, 2016-2018
