Insurance Market In Poland 2008-2010, CEE Insurance Series

DUBLIN, Ireland--(BUSINESS WIRE)--Research and Markets (http://www.researchandmarkets.com/research/a83247/insurance_market_in _poland_20082010_cee_ins) (Due to its length, this URL may need to be copied/pasted into your Internet browser's address field. Remove the extra space if one exists.) has announced the addition of the "Insurance Market In Poland 2008-2010, CEE Insurance Series" report to their offering.

The report: "Insurance Market in Poland 2008-2010" provides a comprehensive analysis of the insurance sector in Poland in order to help managements of insurance companies and other financial institutions to identify current trends, to better understand market dynamics and to use upcoming future opportunities. The latest version of report has been upgraded with several new analysis, responding to the feedback received from our customers after publication of previous edition. The data has been presented in a structured and logical way in a form of horizontal presentation on over 80 slides.

Key Findings:

- Growing market. With over 12 billion EUR in total annual premium written and -40% premium share within CEE14* area in 2007, Poland is clearly the biggest single insurance market in this part of Europe. Nevertheless current insurance penetration benchmarks if compared to Western Europe suggest that further growth is possible, provided the local economy will sustain high growth. During the period of 2003-2007 the insurance sector in Poland experienced solid growth, both in life (31% premium CAGR**) and non-life segment (-15% premium CAGR**). The total insurance premium per capita reached 317 €, while the life /non-life premium ratio advanced to 139%

- Falling concentration. The initially almost monopolized market is continuing de-concentration trend. PZU is still dominating on the market with: 25-50% share depending on segment. However, position of the giant is gradually eroding thanks to mid-size and smaller players aggressively challenging PZU with better sales skills, lower prices, more friendly customer service and alternative sales channels. It is also worth mentioning that few mid-size groups including: Vienna IG, HDI Gerling and ERGO grow fast by engaging in M&A activity and consolidate smaller players

- Profitability. After record years 2005/2006 the profitability indicators of both non-life and life players have deteriorated in 2007. The combined profit of players in non-life segment fell down by almost 50%, affected mostly by quickly rising claims, higher acquisition costs and lower than expected investment result. In the life business insurers managed to grow profits by 14% in 2007 on a rapid premium growth of over 28% yoy., however, falling returns on investments will negatively affect 2008 profits

- New sales channels. Entry of aggressive direct players in 2006/2007, price competition and increased role of banks initiated a structural shift in insurance sales channels. Although during 2005-2007 the traditional sales structures could still defend themselves (especially in non-life segment), the increasing competition and price pressures will force even established players to redesign sales channels and introduce low cost / direct offers especially in case of low margin products

- Still good perspectives. Strong economy, good condition of enterprises and increasing wealth of individuals driven by rising employment and higher wages will contribute to further growth of premiums. In mid-term perspective especially the non-life segment (property and motor insurance) is expected to show a solid premium growth following the revival on new cars market and increased property prices. In life insurance business the volatility of stock market is likely to temporarily negatively affect premium collection of unit linked products. At the same time it is possible that tax friendly „deposit-like” insurance products with low risk profile will partially replace more risky investments.

The author expects that insurance premiums in Poland will grow by 8% & 13% in life and non-life segments respectively until 2010

Key Topics Covered:

Slide 1: Executive summary

1. Macroeconomic overview

2. Insurance market

3. Non-life insurance

4. Life insurance

5. Bancassurance

6. Top players profiles

7. Forecast

Companies Mentioned:

- AEGON TU na Zycie S.A.

- Avanssur

- AXA

- Commercial Union Polska - TUnZ S.A.

- Generali TU S.A.

- Generali Zycie TU S.A.

- HDI SAMOPOMOC TU S.A.

- Liberty Direct

- Liberty Seguros

- Link4 Link 4 TU

- Motobank - multi-agencja ubezpieczeniowa

- Nordea Polska TUnZ S.A.

- PAPTUnZiR Amplico-Life S.A.

- PTU S.A.

- PZU S.A.

- PZU Zycie S.A.

- STU Ergo Hestia S.A.

- TU Allianz Polska S.A.

- TU Allianz Zycie Polska S.A.

- TU Compensa S.A.

- TUiR CIGNA STU S.A.

- TUiR WARTA S.A.

- TUnZ EUROPA S.A.

- TUnZ ING Nationale-Nederlanden Polska S.A.

- TUnZ WARTA S.A.

- UNIQA TU S.A.

For more information visit http://www.researchandmarkets.com/research/a83247/insurance_market_in_ poland_20082010_cee_ins (Due to its length, this URL may need to be copied/pasted into your Internet browser's address field. Remove the extra space if one exists.)