About the report:
Insurance Market in Poland 2023-2025 is the latest full update of a comprehensive publication on the insurance sector in Poland. It is describing the present market structure and recent trends in the insurance market. It also provides estimates of insurance premium growth expected for the years 2023-2025.
As of 2022, the Insurance premium written p.a. within CEE14 region (Central and Eastern Europe) was worth €43.6 billion. Poland came first in the region with nearly € 15.4 billion in premium and 35 % share. Poland's insurance sector was stable with long-term trends remaining intact. The non-life segment experienced robust growth, with premiums increasing by nearly 8% year-on-year. This growth was driven mainly by the appreciation of underlying assets, particularly homes, and cars, which in turn can be attributed to increasing consumer price inflation. On the other hand, the life insurance segment exhibited a marginal premium loss, continuously suffering from legacy unit-linked products, but, still aligning with previous years' trends.
The insurance sector in Poland is undergoing a gradual evolution, with consolidation being one of the key processes. Recently, a few players decided to leave the market and a number of M&A deals have been closed. Prominent transactions include the acquisition of Aegon by VIG, the acquisition of Aviva by Allianz, and the integration of MetLife by Nationale Nederlanden. Through consolidation, mid-sized insurers are able to scale up their operations and enhance profitability in the face of rising costs, required investments, and tariff pressures. Consolidation within the sector presents various benefits. It allows companies to achieve economies of scale, expand their customer base, enhance their product portfolios, and improve operational efficiency. The outlook for insurers in terms of premium income is predominantly positive. By 2025, the combined premium written for life and non-life business in Poland is likely to top EUR 20 billion.
Table of Contents
1: Executive summary
Companies Mentioned
- Allianz Życie Polska S.A.
- Aviva
- Compensa Tunż S.A.Vienna Insurance Group
- Concordia Polska Tuw
- Generali Tu S.A.
- Hdi Asekuracja Tu S.A
- Link4 Tu S.A.
- Metlife
- Mtu Moje Towarzystwo Ubezpieczeń
- Nationale Nederlanden Tunż S.A.
- Pzu S.A.
- Pzu Życie S.A.
- Stu Ergo Hestia S.A.
- Stunż Ergo Hestia S.A.
- Tu Allianz Polska S.A.
- Tu Compensa S.A.
- Tu Europa S.A.
- Tuir Warta S.A.
- Tunż Europa S.A.
- Tunż Warta S.A.
- Uniqa Tu Na Życie S.A.
- Uniqa Tu S.A.
