Poland is one of the fastest growing insurance markets in Central Eastern Europe, with rising penetration rate. In 2010, life insurance segment accounted for over half of the share in the insurance market in terms of gross written premium. Poles preferred life insurance policies due to the availability of more beneficial products in this segment. Further, the government is striving hard to develop the insurance sector and had made new regulation to support the market.
According to our new research report “Poland Insurance Market Forecast to 2014”, although the polish insurance market showed declining gross written premium during the recession period (2009), it had revived, as the economic conditions started improving from 2010 onwards. Moreover, declining bank deposit interest rate and rising living standard will propel the market in future and it is expected that the Poland insurance industry will grow at a CAGR of around 15% during 2011-2014.
Of the different types of insurance offered motor insurance secured the largest share in the non life insurance gross written premium in 2010. This is mainly due to the increasing number of vehicle registration in Poland. Moreover, due to the high number of road accidents in the country, the government has made it mandatory for vehicle owners to take third party motor insurance policy.
Our report “Poland Insurance Market Forecast to 2014” provides detail analysis of Poland insurance industry. The report provides an extensive research and objective analysis of the market structure and demand potential. Moreover, the report thoroughly examines emerging market trends, such as pension funds, health insurance, bancassurance etc to enable clients understands the market structure and its progress in coming years.
The report also identifies possible growth areas for expansion of the Polish insurance industry. Most importantly, the report presents future outlook considering the pros and cons of the Poland insurance industry. Forecasts are based on the correlation of past and present market growth drivers, penetration level, rise in living standard, competitive structure, and the government support.
