Boston, MA -- (SBWIRE) -- 08/21/2012 -- Poland contains the largest insurance industry in Central and Eastern Europe. The country's life insurance segment recorded strong growth in gross written premiums during the review period (2007-2011). This life insurance growth was supported by Poland's stable economic development, increasing disposable income levels, improving awareness of the benefits of insurance products and government initiatives to develop a better insurance industry in the country. The life insurance segment is expected to benefit from product innovations introduced by insurers over the forecast period, and changes in Poland's social security and pension system will also increase the demand for life insurance and savings products.

View Full Report Details and Table of Contents

Key Highlights

- The steady growth in Polish life insurance written premiums was mainly due to the growth of group insurance product sales during the review period.
- Foreign life insurance companies are expected to continue generating the majority of the segment's written premium value over the forecast period (2012-2016). There were 29 life insurers operating in Poland at the end of 2011, of which 22 were under majority foreign ownership.
- Polish life insurance is reliant on the bancassurance distribution channel for generating its largest share of written premiums. Polish insurers recognized bancassurance could provide an important and cost-effective channel for distributing life insurance during the review period.
- Poland's current economic conditions, changing customer behaviors, supportive government regulation and intensive competitive pressure will be the key growth drivers for the Polish life insurance segment over the forecast period.
- A new pension law was introduced in Poland in May 2011, which reduces the contribution rate from second-pillar individual accounts that are ma ged by open pension funds (OFEs) from 7.3% of the employee's monthly salary to 2.3%. The 5% reduction was diverted to newly created first-pillar accounts ma ged by Poland's social insurance institution (ZUS).
- Polish insurance law restricts companies by only allowing them to sell either life insurance or general insurance, which encourages most general insurance firms to establish separate life insurance subsidiaries. A number of secondary regulations became effective in relation to changing the Polish reinsurance directive and the separation of reinsurance companies in 2010.

Scope

This report provides a comprehensive a lysis of the life insurance market in Poland:

- It provides historical values for the Polish life insurance market for the report's 2007-2011 review period and forecast figures for the 2012-2016 forecast period
- It offers a detailed a lysis of the key sub-segments in the Polish life insurance market, along with market forecasts until 2016

Companies Mentioned in this Report: Powszechny Zaklad Ubezpieczen Zycie SA, Tun? Europa SA, Tun? Warta SA, ING Tun? SA, Aviva Tun? SA, Nordea Polska TU ?ycie SA, Paptun?ir Amplico LIFE SA

About Fast Market Research

Fast Market Research is an online aggregator and distributor of market research and business information. Representing the world's top research publishers and analysts, we provide quick and easy access to the best competitive intelligence available. Our unbiased, expert staff will help you find the right research to fit your requirements and your budget. For more information about these or related research reports, please visit our website at http://www.fastmr.com or call us at 1.800.844.8156.

Browse all Financial Services research reports at Fast Market Research

You may also be interested in these related reports:

- Life Insurance in South Africa, Key Trends and Opportunities to 2016: Micro Insurance Programs and Rural Insurance Penetration Key to Market Expansion
- Non-Life Insurance in South Africa, Key Trends and Opportunities to 2016: Introduction of Compulsory Motor Third-Party Liability Insurance to Drive Market Growth
- Life Insurance in the UK, Key Trends and Opportunities to 2016
- Life Insurance in the Czech Republic, Key Trends and Opportunities to 2016
- Non-Life Insurance in the UK, Key Trends and Opportunities to 2016
- Life Insurance in Mexico, Trends and Opportunities to 2016: Tax Incentives to Continue to Encourage Investment in Life Insurance Retirement Products
- Life Insurance in Germany, Key Trends and Opportunities to 2016
- Life Insurance in Colombia, Key Trends and Opportunities to 2016
- Non-Life Insurance in Vietnam, Trends and Opportunities to 2016: Increase in Minimum Capital Requirements Will Lead to Market Consolidation
- Life Insurance in Chile, Key Trends and Opportunities to 2016