Poland Insurance Report Q2 2016
BMI View: On the whole, the outlook for Poland's insurance market is positive, with solid single-digitgrowth expected in both life and non-life premiums throughout the forecast period between 2016 and 2020.In the non-life sector, strongest growth will be seen in the well-established property and personal accidentlines, with a slightly more subdued outlook, at least in the short-term, for the dominant motor insurancesegment, where claims costs are high and pricing competition is intense. In the life sector, improvinghousehold income rates and some supportive demographic trends should support premium growth, thoughrates of density and penetration remain low by Western Europe standards.
Key Updates And Forecasts
Poland's non-life sector is considerably larger than the life sector, accounting for around 57.2% ofpremiums written in the market in 2016. Growth in the non-life sector is expected to average 6.7% peryear between 2016 and 2020, in local currency terms, with more varied growth in US dollar terms due toongoing currency movements.
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