New Insurance market report from Timetric: "Non-Life Insurance in Poland, Key Trends and Opportunities to 2017"
Boston, MA -- (SBWIRE) -- 03/04/2014 -- The Polish non-life insurance segment performed better as compared to the life insurance segment which declined at a CAGR of -1.9% during the review period, and continued to expand even during the global financial crisis in 2009. The written premium of the non-life segment increased from PLN18.1 billion (US$7.5 billion) in 2008 to PLN23.4 billion (US$7.2 billion) in 2012, at a review-period CAGR of 6.6%. The growth in the segment was partly due to improved demand for property insurance, and the high frequency of natural disasters. The increase in insurance premium rates due to the severe flooding and forest fires in 2010, coupled with mandatory motor third-party liability insurance, supported the growth during the review period (2008-2012). These factors, coupled with projected economic growth, are also expected to support the segment over the forecast period, during which the written premium of the non-life insurance segment is expected to increase from PLN23.4 billion (US$7.2 billion) in 2012 to PLN31.6 billion (US$10.7 billion) in 2017, at a projected CAGR of 6.2%. The segment is also expected to benefit from increasing levels of risk awareness among Polish consumers.
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- Poland is the largest Central and Eastern European (CEE) economy, and was the only EU economy to avoid contraction during the 2009 global financial crisis
- The Polish non-life insurance segment performed better as compared to the life insurance segment which declined at a CAGR of -1.9% during the review period, and continued to expand even during the global financial crisis in 2009
- A rise in premium rates supported growth
- Growth in the segment is expected to be supported by increased government spending on infrastructure, and improving consumer awareness of non-life insurance products
- The Polish non-life insurance segment is regulated by the Polish Financial Supervisory Authority
- The Polish non-life insurance segment is highly concentrated, with the leading 10 non-life insurance companies accounting for 84.4% of total Polish non-life written premiums in 2012
This report provides a comprehensive analysis of the non-life insurance segment in Poland:
- It provides historical values for the Polish non-life insurance segment for the report's 2008-2012 review period and forecast figures for the 2012-2017 forecast period
- It offers a detailed analysis of the key sub-segments in the Polish non-life insurance segment, along with market forecasts until 2017
- It covers an exhaustive list of parameters, including written premium, incurred loss, loss ratio, commissions and expenses, combined ratio, frauds and crimes, total assets, total investment income and retentions
- It analyses the various distribution channels for non-life insurance products in Poland
Companies Mentioned in this Report: PZU SA, Tuir Warta SA, STU Ergo Hestia SA, Tuir Allianz Polska SA, Uniqa Tu SA, Interrisk SA, Compensa Tu SA, Generali Tu SA, MTU Moje Towarzystwo Ubezpiecze? SA, Gothaer Tu SA
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