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Commercial Non-Life Insurance Brokers in Poland

  • June 2016
  • -
  • Finaccord
  • -
  • 20 pages

Commercial Non-Life Insurance Brokers in Poland, plus the BrokerBASE™ and market data file that accompany it, investigates the importance of brokers in the distribution of non-life (P&C) insurance for business, public sector and not-for-profit customers in Poland. This study first provides unique data concerning the size, segmentation and growth of the Polish commercial non-life insurance market itself. It then quantifies the share of this market that is intermediated by brokers and, based on extensive primary research covering all significant broking entities, it ranks the leading 25 brokers in Poland according to their approximate revenues derived from commercial non-life insurance, excluding income from other activities such as personal lines and employee benefits consulting.

This study provides unique data in the following areas:

- the value of commercial non-life insurance markets from 2011 to 2015 with a segmentation between commercial liability, motor, property, MAT and other premiums and with a split for 2015 alone by size of insured entity (i.e. micro, small, medium, large and very large customers);

- the distribution share of brokers in this market in both 2011 and 2015 and the revenues consequently generated by them in each year that represent the value of the market for commercial lines broking in Poland;

- the approximate segmentation of commercial lines broking revenues by size of insured entity (i.e. again with a split across micro, small, medium, large and very large customers);

- the combined share of commercial lines broking revenues of the top three and top ten brokers in 2015 with this data broken out in the BrokerBASE™ for each of the top 25 brokers in Poland;

- also for the top 25 brokers, the approximate segmentation of their total broking revenues in 2015 (expressed as a percentage range) between commercial lines, personal lines, employee benefits plus life / health insurance, and wholesale insurance / reinsurance;

- forecasts for 2019 for the value of commercial non-life insurance premiums, brokers' distribution share of this market and the revenues predicted to be generated by brokers in that year from commercial lines.

Moreover, the study can be used in one or more of the following ways

- to quantify the size and structure of both the underlying commercial non-life insurance sector and the associated commercial lines broking market in Poland;

- to understand how the value of both of these is likely to segment by size of insured customer;

- to understand the competitive landscape for commercial lines broking in Poland as defined by market concentration, the presence of international brokers and the business mix of the top 25 competitors;

- to identify the leading commercial lines brokers in Poland, with coverage of competitors such as Aon, MAK, Marsh & McLennan Companies, Nord Partner and Willis Towers Watson (incorporating Gras Savoye).

Table Of Contents

Commercial Non-Life Insurance Brokers in Poland
0.0 EXECUTIVE SUMMARY . 1
1.0 INTRODUCTION 3
What is this report about? 3
The focus is uniquely on commercial non-life (PandC) insurance, excluding other types of business. . 3
.and on brokerage, even where intermediaries can act as both agents and brokers . 3
Rationale . 3
In many countries, brokers constitute the most important distribution channel for commercial lines . 3
Methodology . 4
Research program 4
Market data analysis . 4
Definitions . 4
Premiums 4
Size of insured entity. 5
Abbreviations 5
Other notes 5
BrokerBASE . 5
Finaccord 6
2.0 MARKET ANALYSIS . 8
Introduction . 8
Regulatory information . 8
The number of insurance intermediaries in Poland has increased quite substantially in recent years 8
Commercial non-life insurance market . 9
The Polish market for commercial non-life insurance has stagnated since 2013… . 9
… albeit growth has been strong for certain classes of business 9
Insured entities in the micro segment generate a significant proportion of premiums in this market . 10
Commercial non-life insurance brokers 12
Overview of brokers' presence in the distribution of commercial non-life insurance 12
The distribution share of brokers in commercial non-life insurance edged up between 2011 and 2015 . 12
Smaller entities account for a much lower share of commercial lines broking revenues than premiums 14
Competitor trends . 15
The Polish commercial lines broking market remains a fairly fragmented one… . 15
… with the two leaders accounting for only around 20% of revenues in it 15
MAK and Nord Partner are the most prominent indigenous brokers 16
Most of the leading brokers derive a majority of their revenues from commercial non-life insurance 17
International broker networks . 19
MAI Insurance Brokers and Mentor have been most active in affiliating themselves to broker networks . 19
Future outlook . 19
Relatively strong growth is predicted up to 2019 for the Polish commercial lines broking market . 19

LIST OF GRAPHICS / TABLES
0.0 EXECUTIVE SUMMARY . 1
Key market data for commercial non-life insurance brokers in Poland . 2
1.0 INTRODUCTION 3
2.0 MARKET ANALYSIS . 8
Segmentation of commercial non-life insurance gross written premiums by line of business in Poland, 2015 9
Growth in commercial non-life insurance gross written premiums in Poland segmented by line of business, 2011 to 2015 . 10
Gross written premiums for commercial non-life insurance in Poland by line of business, 2011 to 2015 (table) 10
Segmentation of commercial non-life insurance gross written premiums in Poland between micro, small, medium, large and very large entities, 2015 . 11
Segmentation of commercial non-life insurance gross written premiums in Poland between micro, small, medium, large and very large entities, 2015 (table) . 12
Brokers' distribution share of the commercial non-life insurance market and revenues earned from it in Poland, 2011 and 2015 13
Brokers' distribution share of the commercial non-life insurance market and revenues earned from it in Poland, 2011 and 2015 (table) 13
Segmentation of commercial non-life insurance broking revenues in Poland between micro, small, medium, large and very large entities, 2015 . 14
Segmentation of commercial non-life insurance broking revenues in Poland between micro, small, medium, large and very large entities, 2015 (table) . 15
Share of the top three and the top ten brokers in commercial non-life insurance broking in Poland, 2011 and 2015 . 16
Market shares of commercial non-life insurance broking revenues of the top ten brokers in Poland, 2015 . 17
Segmentation of all insurance broking revenues between commercial lines, personal lines, employee benefits / life / health insurance and wholesale / reinsurance, for the top 25 commercial non-life insurance brokers in Poland, 2015 . 18
Partners of international broker networks in Poland, 2016 19
Brokers' forecast share of the commercial non-life insurance market and revenues earned from it in Poland, 2015 and 2019 20
Brokers' forecast share of the commercial non-life insurance market and revenues earned from it in Poland, 2015 and 2019 (table) 20

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