Insurance Market In Poland 2017-2019, CEE Insurance Series

Insurance Market In Poland 2017-2019, CEE Insurance Series

Two contradictory trends have been shaping the insurance market in Poland recently. The life insurance segment has remained in a downturn, as it continued to suffer from tighter regulatory environment in multiple areas, including: consumer protection, distribution, fiscal treatment etc. Moreover, an overall negative sentiment around insurance investment products and low interest rate environment have not helped new product sales. By contrast, the non-life segment has seen significant growth in new premium collection. This could be attributed mostly to surging car insurance premium, which has been an effect of both: increasing tariffs and a higher number of contracts.

Considering the high competition among insurers, continuously growing claim costs, and persisting low returns on investments, resulting from low interest rates, the profitability of insurers will remain under pressure in 2017 and 2018. Most advanced insurers will address the issue of lower profitability with further automation of processes, reduction of operating costs and more sophisticated anti-fraud measures. Also new, innovative solutions will be high on agenda with usage-based insurance, telematics and multi-channel distribution models being a source of competitive advantage.

Slide 1: Executive summary
1. Macroeconomic overview
Slide 2: Poland - General overview
Slide 3: Poland in Europe: Number of households vs. wealth, 2015/2016
Slide 4: Key macroeconomic indicators, 2011-2016
Slide 5: Foreign trade statistics, C/A, FDI, 2011-2016
Slide 6: Unemployment and salaries/wages, 2011-2016
Slide 7: Disposable income in households and income distribution, 2011-2016; Income distribution 2015
Slide 8: Consumer confidence index evolution, 2011-Feb. 2017
Slide 9: Warsaw Stock Exchange - Turnover, Market cap. and indexes, 2011-2016
Slide 10: Banking assets evolution, 2011-2016
Slide 11: Top 12 foreign investors in banking sector and their subsidiaries, 2016
2. Insurance market
Slide 12: Insurance Markets in CEE – Size vs. growth matrix, 2014-2016
Slide 13: Insurance premiums per capita & premiums/GDP penetration – CEE comparison, 2016
Slide 14: Insurance gross premiums - Local insurers (life/non-life, in EUR), 2012-2016
Slide 15: Insurance gross premiums - Local insurers (life/non-life, in PLN), 2012-2016
Slide 16: Top 12 insurance groups in Poland by total premium written, 2016
Slide 17: Insurance market concentration and Herfindahl-Hirschman Index (life/non-life), 2016 vs. 2015
Slide 18: Own funds for life and non-life insurers, 2011-2016, SCR coverage ratios, 2015-2016
Slide 19: Number of insurance agents by type and number of sales reps (OFWCA), 2012-2015
Slide 20: Insurance – Regulatory institutions, 2016
Slide 21: Private health Insurance – Opportunity for insurers
3. Non-life insurance
Slide 22: Non-life insurance markets in CEE – Size vs. growth matrix, 2014-2016
Slide 23: Non-life premiums per capita & premiums/GDP penetration – CEE comparison, 2016
Slide 24: Non-life insurance gross and net premium evolution, 2012-2016
Slide 25: Top 10 non-life insurance players in Poland, 2016
Slide 26: Market shares of top non-life players evolution, 2013-2016
Slide 27: Non-life premium by client segment and insurance class (car insurance vs. other), 2016
Slide 28: Non-life premium by risk class, 2014-2016
Slide 29: Sales channels of non-life insurance, 2013-2015
Slide 30: Non-life insurers results, technical and P&L accounts, 2016
Slide 31: Non-life insurance - Profitability tree, 2012-2016
Slide 32: Non-life insurance - Claims and expense ratio evolution, 2012-2016
Slide 33: Non-life insurance - Combined ratio and its elements, 2012-2016
Slide 34: Non-life insurance - Acquisition costs evolution, 2014-2016, acquisition costs for top non-life insurers comparison, 2015
Slide 35: Network multi-agents: Unilink, Consultia, CUK, Conditor, LGK etc.
Slide 36: Car insurance - Premium and no. policies evolution, MTPL, Casco, 2012-2016
Slide 37: Car insurance - Top players in MTPL and in Casco, 2014-2016
Slide 38: Car insurance - Combined ratio and its elements, MTPL and in Casco, 2014-2016
Slide 39: Car insurance - Average premium per policy for Casco and TPL, 1Q2012-4Q2015
Slide 40: Car insurance - Usage-based insurance: YU! – Yanosik Ubezpiecza, Link4 & NaviExpert
4. Life insurance
Slide 41: Life insurance markets in CEE – Size vs. growth matrix, 2014-2016
Slide 42: Life premiums per capita & premiums/GDP penetration – CEE comparison, 2016
Slide 43: Life insurance gross and net premiums evolution, 2012-2016
Slide 44: Top 10 life insurance players in Poland, 2016
Slide 45: Market shares of top life players evolution, 2014-2016
Slide 46: Life premium by insurance class and segment, 2016
Slide 47: Life premium by risk class evolution, 2014-2016
Slide 48: Life insurance technical reserves evolution and structure, 2012-2016
Slide 49: Sales channels of life insurance, 2013-2015
Slide 50: Life insurers results, Technical and P&L accounts, 2016
Slide 51: Life insurance - profitability tree, 2012-2016
Slide 52: Life insurance - acquisition costs evolution, 2014-2016, acquisition cost ratios for top life insurers, 2015
5. Bancassurance & alternative sales channels
Slide 53: Bancassurance: Premium written by bank channel (life/non-life), 2013-2015 – data by KNF vs. data by PIU
Slide 54: Bancassurance: Product/class split in bank channel (life/non-life), 2016
Slide 55: Bancassurance: Sales of investment type life products other than unit-linked, 2012-2016
Slide 56: Bancassurance: Comparison websites and online sales sites of banks - overview
6. Top players' profiles
Slide 57: Non-life insurance: PZU, 2014-2016
Slide 58: Non-life insurance: Ergo Hestia, 2014-2016
Slide 59: Non-life insurance: Warta, 2014-2016
Slide 60: Life Insurance: PZU Życie, 2014-2016
Slide 61: Life Insurance: Aviva, 2014-2016
Slide 62: Life Insurance: Open Life, 2014-2016
7. Forecast
Slide 63: Non-life insurance premiums forecast, 2017-2019
Slide 64: Life Insurance premiums forecast, 2017-2019
Slide 65: Notes on Methodology

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