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Follow on Google News | Poland’s insurance sector to grow again in 2014-2016 as economy acceleratesInsurers operating in Poland are expected to take advantage from the ongoing economic recovery.
After a series of M&A deals taking place through 2012, the insurance market stabilized and the concentration did not change considerably in 2013. Currently, Poland's insurance sector is controlled by 3 major groups: PZU, Talanx and Vienna Insurance Group with a combined market share of ~57% in terms of total premium written. In 2013, the market leader - PZU - was able to reverse the trend of falling market share across most of its key business lines, including: life- and car insurance. Moreover, in early 2014, PZU committed to take over businesses of RSA Insurance Group in Baltic States and in Poland, including acquisition of the leading Polish direct insurer– Link4. This transaction is likely to strengthen the competitive position of PZU in the economy TPL insurance segment. As for the future trends, a further market consolidation seems inevitable and some new mergers have been already announced (e.g. joining of VIG subsidiaries Compensa TUnŻ and Benefia TUnŻ). Inteliace Research expects the insurance sector to resume growth in 2015. Insurance premiums are expected to increase at an average rate of 6% and 7% in the non-life and life insurance business respectively during 2014–2016. About the Report “The Insurance Market in Poland 2014–2016” About Inteliace Research Inteliace Research is an independent consultancy that focuses on the financial markets in Central and Eastern Europe. Inteliace Research specializes in management consulting and custom research services, including market entry strategies, product launches, and performance and benchmarking analyses. During 2005–2014, Inteliace Research provided its products and services to more than 60 clients, including major CEE banks and insurers. To learn more about the company, visit Inteliace Research’s webpage: www.inteliace.com . Inteliace Research Foksal 17b / 31 00-372 Warszawa, POLAND phone+48 22 408 66 20 mobile +48 502 512 178 fax +48 22 349 21 40 www.inteliace.com info@inteliace.com End
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