Raporty i bazy danych
Ponad 80 publikacji obejmujących bankowość, ubezpieczenia, płatności, kredyty hipoteczne i zarządzanie aktywami w Polsce i Europie Środkowo-Wschodniej.
Zdecydowana większość naszych raportów jest dostępna wyłącznie w języku angielskim. Tytuły, opisy i spisy treści poniżej pozostają w oryginale.
Insurance market in Poland, 2025-2027
Poland's insurance market continues to demonstrate exceptional resilience and growth potential, according to the latest comprehensive analysis from Inteliace Research. Despite broader economic uncertainties, the sector is capitalizing on the country's position as one of the EU's fastest-growing economies, with total insurance premiums estimated to surpass PLN 90 billion (€21 billion) by end-2025. The Polish economy's remarkable 2.9% GDP growth in 2024, with projections accelerating to 3.2-3.6% in 2025, provides a solid foundation for insurance sector expansion. Recovering consumption patterns, moderating inflation now at 2.9%, and rising wage levels are creating favorable conditions for both life and non-life insurance growth. Market dynamics reveal interesting competitive shifts. While PZU maintains its dominant position with 44% and 27% market share in life and non-life segments respectively, mid-tier competitors like Warta (Talanx) are gaining ground through organic growth strategies, notably surpassing PZU in the large motor TPL segment. The non-life segment continues outperforming expectations, projected to reach PLN 66 billion (€15.5 billion), significantly outpacing the life segment at PLN 24.5 billion (€5.7 billion). Digital transformation is reshaping distribution channels, with price comparison platforms expanding rapidly and providing enhanced consumer choice while intensifying competition. Corporate agents and multi-agents now account for the largest sales volume portion, while direct insurer distribution gradually declines in importance. Looking ahead, the medium-term outlook through 2027 remains highly favorable. Strong private consumption, investment activity, and wealth accumulation support new premium growth, with combined life and non-life premiums forecast to exceed PLN 103 billion (€24+ billion) by 2027. Poland's commanding 39% share of the Central and Eastern Europe insurance market, valued at ~€53 billion, underscores its regional significance. For more information on recent developments in the Polish insurance sector, please refer to the full publication.
Insurance market in Poland, 2024-2026
As of H1 2024, Poland, with nearly €19.2 billion in gross written premiums (GWP), accounted for approximately 39% of the total regional premium in Central and Eastern Europe. (CEE14*) Poland’s insurance sector experienced solid premium growth in 2023, with these trends continuing through the first half of 2024. The non-life segment performed particularly well, with premiums increasing by 12% year-on-year in H1 2024. In the life insurance segment, growth was lower but still significant, with premiums rising nearly 5% on an annual basis. Consistent with long-term trends, a small number of top insurers continue to expand their market share, while the collective share of smaller players is declining. This trend is likely driven by recent mergers and acquisitions (M&A) and the economies of scale enabling larger insurers to offer more competitive rates. The mid-term outlook for premium income remains positive. Projections suggest that from 2024 to 2026, the nominal growth of gross written premium (GWP) will remain stable, albeit slightly below historical averages, at approximately 8% for the non-life segment and 5% for the life segment. By 2026, combined life and non-life insurance premiums are expected to exceed PLN 98 billion (EUR 23+ billion). For more information on recent developments in the Polish insurance sector, please refer to the full publication.
Insurance market in Poland, 2023-2025
As of 2022, Poland had the largest insurance sector in CEE14 (Central and Eastern Europe*) with nearly € 15.4 billion in premium written p.a. and a 35 % share in the region. The insurance sector in Poland is undergoing a gradual evolution, with consolidation being one of key processes. Recently, a few players decided to leave the market and a number of M&A deals have been closed. Prominent transactions include the acquisition of Aegon by VIG, the acquisition of Aviva by Allianz, and the integration of MetLife by Nationale Nederlanden. Through consolidation, mid-sized insurers are able to scale up their operations and enhance profitability in the face of rising costs, required investments, and tariff pressures. Consolidation within the sector presents various benefits. It allows companies to achieve economies of scale, expand their customer base, enhance their product portfolios, and improve operational efficiency. Additionally, consolidation supports the development of stronger, more financially resilient players capable of meeting the evolving needs of policyholders. The outlook for insurers in terms of premium income is predominantly positive. By 2025, the combined premium written for life and non-life business in Poland is likely to top EUR 20 billion. However, while premium income is projected to accelerate in the mid-term, insurers' profitability is likely to stagnate. Insurers will need to make substantial investments to effectively defend their profitability. For more information on recent developments in the Polish insurance sector, please refer to the full publication.
Insurance market in Poland, 2021-2023
Poland has the largest insurance sector in CEE14 (Central and Eastern Europe*) with nearly € 14.3 billion in premium written p.a. and a 38 % share in the region. In 2021, premium is expected to continue its growth, and to add at least 7% and 6% in non-life and in life segment respectively. A few last years have been challenging for insurers in Poland not only because of pandemics and lockdowns, but mostly due to record-low interest rates impacting gains on investments combined with rising operating costs and also considering unfavourable regulatory developments in life insurance segment. All those circumstances combined led to the falling profitability of insurers. In 2020, the net profit of non-life insurers went down by 15% to PLN 3.9 billion while the same benchmark for life insurers dropped 14% to PLN 2.2 billion. Market fragmentation and regulatory requirements result in ongoing market consolidation. After the withdrawal of AXA - acquired by Uniqa and Aegon - to be purchased by VIG, even larger deals were announced last year, e.g. Aviva to be taken over by Allianz and MetLife to be sold to Nationale Nederlanden. The outlook for insures operating in Poland remains positive. The life insurance segment is expected to continue the rebound after a long period of declines caused by the regulatory overhaul. The non-life segment is likely to benefit from the recent appreciation of value of properties, which is caused by accelerating inflation but also by increasing value of insured assets and overall growth in the wealth of individuals. For more information on recent developments in the Polish insurance sector, please refer to the full publication.
Insurance market in Poland, 2020-2022
The impact of COVID-19 on the insurance sector in Poland has been noticeably across various product classes e.g. falling premium in car insurance or growing premium in property/accident insurance. However, the overall effect on the sector can be assessed as close to neutral. Premium in non-life segment remained flat in Q1-Q3 2020 if compared to the same period of the previous year. By contrast, within life insurance, premium contracted by ~3% YoY, however, the fall was not directly connected to COVID-19 but rather, it was a continuation of a long-term declining trend in life insurance-based investment products suffering from increasingly restrictive regulations. Tighter regulations are also quoted among triggers of recently observed consolidation. A few new M&A deals were announced in 2020, including withdrawal of AXA - to be acquired by Uniqa and Aegon to be purchased by VIG. Moreover, an even bigger transaction is in the cards for 2021 as Aviva considered disposing its Polish business For more information on recent developments in the Polish insurance sector, please refer to the full publication.
Insurance market in Poland, 2019-2021
Poland has the largest insurance sector within the CEE with nearly €15 billion in premium written p.a. and almost 40% regional share in terms of GWP. There are mixed trends observed in the insurance sector in Poland recently. While the non-life segment continues with a strong growth, the life insurance segment struggles with re-adjusting of product and service offering to the new regulatory regime. Premium in the non-life segment jumped by 7% in 2018 and by 3% in 1H 2019, and it is expected to top PLN 42 billion by year end 2019. By contrast, the premium in the life segment continued to decline, falling by nearly 12% in 2018 and going down again by another 3% in 1H 2019. For more information on recent developments in the Polish insurance sector, please refer to the full publication.
Insurance market in Poland, 2018-2020
Poland has the largest insurance sector within the CEE with nearly € 15 billion in premium written p.a. and over 41% regional share in terms of GWP. 2017 was a good year for insurers operating in Poland. Premium written in non-life insurance surged by 18% YoY to nearly PLN 37.8 billion fuelled primarily by car insurance and benefiting from both higher tariffs and increasing number of insured cars. Also financial risks, health-related and property insurance sustained fast growth. By contrast, a remarkable reversal took place in the life insurance segment. After multiple years of declines, life insurance premium rebounded and started to grow again. This was possible thanks to much higher sales of unit-linked insurance – a result of multiple factors, including stronger equity markets and low interest rates at banks. Overall life insurance premium advanced by 3 %YoY and reached PLN 24.6 billion in 2017. For more information on recent developments in the Polish insurance sector, please refer to the full publication.
Insurance market in Poland, 2017-2019
Poland has the largest insurance sector in the CEE with nearly € 13 billion in premium written p.a. and a 40 % regional GWP share. After overcoming the recent stagnation, total insurance premium in Poland is expected to increase at ~7% p.a. through 2019. The non-life insurance segment is likely to continue the fast growth driven by increasing tariffs and a higher number of contracts. Also the improving situation of enterprises is expected to fuel more demand for specialized insurance products in the corporate sector including property insurance. A rebound in new premium is expected to take place in the life business, after a tighter regulatory regime is fully implemented in 2017. Considering the extremely high competition among insurers and a persisting trend for higher claims, it is expected that profitability of insurers will improve only slightly in 2017-2018. For more information on recent developments in the Polish insurance sector, please refer to the full publication.
Insurance market in Poland, 2016-2018
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.
Insurance market in Poland, 2015-2017
Insurers operating in Poland are expected to take advantage from the ongoing economic recovery. The premium in non-life insurance segment is likely to rebound in 2015 as insurers will both increase sales of property insurance and slowly raise tariffs in car insurance. Also the improving situation of enterprises is expected to drive demand for specialized insurance products in the corporate sector including credit and liability insurance. At the same time, a better economic situation and improved sentiment in households sector, resulting from lower unemployment and increasing real wages, will boost the demand for unit-linked and plain risk life insurance. For more information on recent developments in the Polish insurance sector, please refer to the full publication.
Insurance market in Poland, 2014-2016
In 2013, Poland's GDP growth rate dropped to 1.6% YoY, which was the lowest rate since 2009. Slowing consumer demand and depleting inventories were reducing the GDP growth rate while a healthy growth in exports and a positive balance in foreign trade had a positive contribution. In response to slowing economy, and in-line with global trends, the monetary policy of the Central Bank became looser in 2013 and interest rates were reduced to the lowest levels in modern history of the country. As a consequence of recent economic developments, the insurance sector slowed down with life premium sinking by 14% YoY and non-life premium increasing just by a fraction. The fall in life insurance premium could be attributed almost exclusively to plunging sales of single premium deposit-like products, which became less attractive due to lower interest rates. Other types of saving/investment products, especially unit-linked insurance were unaffected and continued to grow in 2013 reflecting relatively stable financial condition of households and high propensity to save for retirement. Within the non-life business, car insurance suffered from falling premiums (-5% YoY) due to persisting fierce competition among insurers while property, accident and corporate insurance recorded a moderate growth in premiums. For more information on recent developments in the Polish insurance sector, please refer to the full publication.