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Synopsis
Timetric’s 'Non-Life Insurance in Poland, Key Trends and Opportunities to 2019' report provides a detailed outlook by product category for the Polish non-life insurance segment, and a comparison of the Polish insurance industry with its regional counterparts.

It provides values for key performance indicators such as written premium, incurred loss, loss ratio, commissions and expenses, combined ratio, total assets, total investment income and retentions during the review period (2010–2014) and forecast period (2014–2019).

The report also analyzes distribution channels operating in the segment, gives a comprehensive overview of the Polish economy and demographics, explains the various types of natural hazard and their impact on the Polish insurance industry, and provides detailed information on the competitive landscape in the country.

The report brings together Timetric’s research, modeling and analysis expertise, giving insurers access to information on segment dynamics and competitive advantages, and profiles of insurers operating in the country. The report also includes details of insurance regulations, and recent changes in the regulatory structure.

Summary
Timetric’s ' Non-Life Insurance in Poland, Key Trends and Opportunities to 2019' report provides in-depth market analysis, information and insights into the Polish non-life insurance segment, including:

-The Polish non-life insurance segment’s detailed outlook by product category

-A comprehensive overview of the Polish economy and demographics

-A comparison of the Polish insurance industry with its regional counterparts

-Detailed analysis of natural hazards and their impact on the Polish insurance industry

-Details of the competitive landscape in the life insurance segment in Poland

-Details of regulatory policy applicable to the Polish insurance industry

Scope
This report provides a comprehensive analysis of the non-life insurance segment in Poland:

-It provides historical values for the Polish non-life insurance segment for the report’s 2010–2014 review period, and projected figures for the 2014–2019 forecast period.

-It offers a detailed analysis of the key categories in the Polish non-life insurance segment, and market forecasts to 2019.

-It profiles the top non-life insurance companies in Poland, and outlines the key regulations affecting them.

Reasons To Buy
-Make strategic business decisions using in-depth historic and forecast market data related to the Polish non-life insurance segment, and each category within it.

-Understand the demand-side dynamics, key market trends and growth opportunities in the Polish non-life insurance segment.

-Assess the competitive dynamics in the non-life insurance segment.

-Identify growth opportunities and market dynamics in key product categories.

-Gain insights into key regulations governing the Polish insurance industry, and their impact on companies and the industry's future.

Key Highlights
-The non-life insurance penetration declined during the review period, as overall insurance premiums fell. The penetration rate in the Polish non-life segment stood at 1.4% in 2014.

-Rising consumer awareness, favorable government regulations, and the emergence of new insurance classes of such as cyber risk and telematics are expected to support a rise in Polish non-life insurance penetration over the forecast period.

-Liability insurance was the second-fastest-growing category in the non-life segment, recording a review-period CAGR of 5.7%.

-Civil liability insurance against marine oil pollution is compulsory in the country.

-In order to improve transparency between banks and insurers, the PFSA issued new regulations on bancassurance – Recommendation U – which was effective from April 1, 2015.

-Flooding is the primary risk for non-life insurers, and is the most frequent natural hazard in the country.

Table Of Contents

Non-Life Insurance in Poland, Key Trends and Opportunities to 2019
Table of Contents
1 Key Facts and Highlights
2 Executive Summary
3 Economy and Demographics
4 Segment Outlook
4.1 Regional Comparison
4.2 Segment Indicators
4.2.1 Gross written premium and penetration
4.2.2 Policies sold
4.2.3 Claims
4.2.4 Profitability
4.2.5 Assets and investments
5 Outlook by Category
5.1 Property Insurance
5.1.1 Product overview
5.1.2 Premium
5.1.3 Policies
5.1.4 Claims
5.1.5 Profitability
5.2 Motor Insurance
5.2.1 Product overview
5.2.2 Premium
5.2.3 Policies
5.2.4 Claims
5.2.5 Profitability
5.3 Liability Insurance
5.3.1 Product overview
5.3.2 Premium
5.3.3 Policies
5.3.4 Claims
5.3.5 Profitability
5.4 Marine, Aviation and Transit Insurance
5.4.1 Product overview
5.4.2 Premium
5.4.3 Policies
5.4.4 Claims
5.4.5 Profitability
6 Distribution Channel Outlook
6.1 Analysis by Distribution Channel
6.1.1 Agencies
6.1.2 Insurance brokers
6.1.3 Direct marketing
6.1.4 E-commerce
6.1.5 Bancassurance
7 Natural Hazards
7.1 Flooding
7.2 Windstorms
7.3 Drought
7.4 Exposure
8 Competitive Landscape
8.1 Company Rankings
8.2 Company Profiles
8.2.1 PZU SA - company overview
8.2.2 STU Ergo Hestia SA - company overview
8.2.3 Tuir Warta SA - company overview
8.2.4 Tuir Allianz Polska SA - company overview
8.2.5 Compensa TU SA Vienna Insurance Group - company overview
9 Governance, Risk and Compliance
9.1 Legislation Overview and Historical Evolution
9.2 Latest Changes in Regulations
9.3 Legislation and Market Practice by Type of Insurance
9.3.1 Life insurance
9.3.2 Property insurance
9.3.3 Motor insurance
9.3.4 Liability insurance
9.3.5 Marine, aviation and transit insurance
9.3.6 Personal accident and health insurance
9.4 Compulsory Insurance
9.4.1 Motor third-party liability insurance
9.4.2 Social insurance system
9.4.3 Air carriers and aircraft operators insurance
9.4.4 Marine liability insurance
9.4.5 Professional indemnity insurance for alternative investment fund managers
9.5 Supervision and Control
9.5.1 International Association of Insurance Supervisors (IAIS)
9.5.2 European Insurance and Occupational Pensions Authority (EIOPA)
9.5.3 Polish Financial Supervision Authority
9.5.4 Polish Chamber of Insurance
9.5.5 Polish Insurance Association (PIA)
9.6 Non-Admitted Insurance Regulations
9.6.1 Overview
9.6.2 Intermediaries
9.6.3 Market practices
9.6.4 Fines and penalties
9.7 Company Registration and Operations
9.7.1 Types of insurance organization
9.7.2 Establishing a local company
9.7.3 Foreign ownership
9.7.4 Types of license
9.7.5 Capital requirements
9.7.6 Solvency margins
9.7.7 Reserve requirements
9.7.8 Investment regulations
9.7.9 Statutory return requirements
9.7.10 Fee structure
9.8 Taxation
9.8.1 Insurance premium or policy taxation
9.8.2 Withholding taxes on premium paid overseas
9.8.3 Corporate tax
9.8.4 VAT
9.8.5 Captives
9.9 Legal System
9.9.1 Introduction
9.9.2 Access to court
9.9.3 Alternative dispute resolution (ADR)
10 Databook
10.1 Policies and Premium
11 Definitions and Methodology
11.1 Definitions
11.2 Methodology
12 About Timetric
12.1 Contact Timetric
12.2 About Timetric
12.3 Timetric's Services
12.4 Disclaimer


List of Tables
Table 1: Polish Non-Life Insurance - Key Facts, 2014
Table 2: Polish Non-Life Insurance - Segment Shares of the Top Insurers, 2014
Table 3: Polish Government Credit Ratings
Table 4: Polish Non-Life Insurance - Gross Written Premium (PLN Billion and US$ Billion), 2010-2014
Table 5: Polish Non-Life Insurance - Penetration (%), 2010-2014
Table 6: Polish Non-Life Insurance - Gross Written Premium (PLN Billion and US$ Billion), 2014-2019
Table 7: Polish Non-Life Insurance - Penetration (%), 2014-2019
Table 8: Polish Non-Life Insurance - Premium per Capita (PLN and US$), 2010-2014
Table 9: Polish Non-Life Insurance - Premium per Capita (PLN and US$), 2014-2019
Table 10: Polish Non-Life Insurance - Number of Policies Sold (Million), 2010-2014
Table 11: Polish Non-Life Insurance - Number of Policies Sold (Million), 2014-2019
Table 12: Polish Non-Life Insurance - Paid Claims (PLN Billion and US$ Billion), 2010-2014
Table 13: Polish Non-Life Insurance - Paid Claims (PLN Billion and US$ Billion), 2014-2019
Table 14: Polish Non-Life Insurance - Profitability Ratio (%), 2010-2014
Table 15: Polish Non-Life Insurance - Profitability Ratio (%), 2014-2019
Table 16: Polish Non-Life Insurance - Total Assets (PLN Billion and US$ Billion), 2010-2014
Table 17: Polish Non-Life Insurance - Total Assets (PLN Billion and US$ Billion), 2014-2019
Table 18: Polish Non-Life Insurance - Total Investment Income (PLN Billion and US$ Billion), 2010-2014
Table 19: Polish Non-Life Insurance - Total Investment Income (PLN Billion and US$ Billion), 2014-2019
Table 20: Polish Non-Life Insurance - Investment Portfolio (PLN Billion), 2010-2014
Table 21: Polish Non-Life Insurance - Investment Portfolio (PLN Billion), 2014-2019
Table 22: Polish Non-Life Insurance - Gross Written Premium by Category (PLN Billion), 2010-2014
Table 23: Polish Non-Life Insurance - Gross Written Premium by Category (PLN Billion), 2014-2019
Table 24: Polish Property Insurance - Gross Written Premium by Sub-Category (PLN Billion), 2010-2014
Table 25: Polish Property Insurance - Gross Written Premium by Sub-Category (PLN Billion), 2014-2019
Table 26: Polish Property Insurance - Number of Policies Sold by Sub-Category (Million), 2010-2014
Table 27: Polish Property Insurance - Number of Policies Sold by Sub-Category (Million), 2014-2019
Table 28: Polish Property Insurance - Paid Claims (PLN Billion and US$ Billion), 2010-2014
Table 29: Polish Property Insurance - Paid Claims (PLN Billion and US$ Billion), 2014-2019
Table 30: Polish Property Insurance - Loss Ratio (%), 2010-2014
Table 31: Polish Property Insurance - Loss Ratio (%), 2014-2019
Table 32: Polish Motor Insurance - Number of Vehicles by Type (Thousand), 2013-2014
Table 33: Polish Motor Insurance - Number of New Vehicle Registrations, 2014
Table 34: Polish Motor Insurance - Gross Written Premium by Sub-Category (PLN Billion), 2010-2014
Table 35: Polish Motor Insurance - Gross Written Premium by Sub-Category (PLN Billion), 2014-2019
Table 36: Polish Motor Insurance - Number of Policies Sold by Sub-Category (Million), 2010-2014
Table 37: Polish Motor Insurance - Number of Policies Sold by Sub-Category (Million), 2014-2019
Table 38: Polish Motor Insurance - Paid Claims (PLN Billion and US$ Billion), 2010-2014
Table 39: Polish Motor Insurance - Paid Claims (PLN Billion and US$ Billion), 2014-2019
Table 40: Polish Motor Insurance - Loss Ratio (%), 2010-2014
Table 41: Polish Motor Insurance - Loss Ratio (%), 2014-2019
Table 42: Polish Liability Insurance - Gross Written Premium (PLN Billion), 2010-2014
Table 43: Polish Liability Insurance - Gross Written Premium (PLN Billion), 2014-2019
Table 44: Polish Liability Insurance - Number of Policies Sold (Million), 2010-2014
Table 45: Polish Liability Insurance - Number of Policies Sold (Million), 2014-2019
Table 46: Polish Liability Insurance - Paid Claims (PLN Million and US$ Million), 2010-2014
Table 47: Polish Liability Insurance - Paid Claims (PLN Million and US$ Million), 2014-2019
Table 48: Polish Liability Insurance - Loss Ratio (%), 2010-2014
Table 49: Polish Liability Insurance - Loss Ratio (%), 2014-2019
Table 50: Polish Marine, Aviation and Transit Insurance - Shares of Top Countries in Goods Exports and Imports (%), 2014
Table 51: Polish Marine, Aviation and Transit Insurance - Gross Written Premium (PLN Million), 2010-2014
Table 52: Polish Marine, Aviation and Transit Insurance - Gross Written Premium (PLN Million), 2014-2019
Table 53: Polish Marine, Aviation and Transit Insurance - Number of Policies Sold (Thousand), 2010-2014
Table 54: Polish Marine, Aviation and Transit Insurance - Number of Policies Sold (Thousand), 2014-2019
Table 55: Polish Marine, Aviation and Transit Insurance - Paid Claims (PLN Million and US$ Million), 2010-2014
Table 56: Polish Marine, Aviation and Transit Insurance - Paid Claims (PLN Million and US$ Million), 2014-2019
Table 57: Polish Marine, Aviation and Transit Insurance - Loss Ratio (%), 2010-2014
Table 58: Polish Marine, Aviation and Transit Insurance - Loss Ratio (%), 2014-2019
Table 59: Polish Non-Life Insurance - Direct Written Premium by Distribution Channel (PLN Billion), 2010-2014
Table 60: Polish Non-Life Insurance - Direct Written Premium by Distribution Channel (PLN Billion), 2014-2019
Table 61: Polish Non-Life Insurance - Direct Written Premium by Distribution Channel (%), 2010-2019
Table 62: Polish Average Annual Loss by Hazard
Table 63: Polish Non-Life Insurance - Shares of Top Insurers (%), 2014
Table 64: PZU SA - Key Facts
Table 65: PZU SA - Key Financials (PLN Million), 2010-2014
Table 66: STU Ergo Hestia SA - Key Facts
Table 67: STU Ergo Hestia SA - Key Financials (PLN Million), 2010-2014
Table 68: Tuir Warta SA - Key Facts
Table 69: Tuir Warta SA - Key Financials (PLN Million), 2010-2014
Table 70: Tuir Allianz Polska SA - Key Facts
Table 71: Tuir Allianz Polska SA - Key Financials (PLN Million), 2010-2014
Table 72: Compensa TU SA Vienna Insurance Group - Key Facts
Table 73: Compensa TU SA Vienna Insurance Group - Key Financials (PLN Million), 2010-2014
Table 74: Poland - Insurance Regulatory Framework Key Features
Table 75: Poland - Life Insurance Regulatory Framework
Table 76: Poland - Property Insurance Regulatory Framework
Table 77: Poland - Motor Insurance Regulatory Framework
Table 78: Poland - Liability Insurance Regulatory Framework
Table 79: Poland - Minimum Cover for Aircraft Third-Party Liability Per Accident Per Aircraft
Table 80: Poland - Corporate Tax Rate for the Financial Year 2015
Table 81: Polish Insurance Industry - Policies and Premium, 2010-2014
Table 82: Polish Insurance Industry - Policies and Premium, 2014-2019
Table 83: Polish Non-Life Insurance - Policies and Premium, 2010-2014
Table 84: Polish Non-Life Insurance - Policies and Premium, 2014-2019
Table 85: Polish Non-Life Insurance - Property Insurance Policies and Premium, 2010-2014
Table 86: Polish Non-Life Insurance - Property Insurance Policies and Premium, 2014-2019
Table 87: Polish Non-Life Insurance - Motor Insurance Policies and Premium, 2010-2014
Table 88: Polish Non-Life Insurance - Motor Insurance Policies and Premium, 2014-2019
Table 89: Polish Non-Life Insurance - Liability Insurance Policies and Premium, 2010-2014
Table 90: Polish Non-Life Insurance - Liability Insurance Policies and Premium, 2014-2019
Table 91: Polish Non-Life Insurance - Marine, Aviation and Transit Insurance Policies and Premium, 2010-2014
Table 92: Polish Non-Life Insurance - Marine, Aviation and Transit Insurance Policies and Premium, 2014-2019
Table 93: Polish Non-Life Insurance - Gross Written Premium by Sub-Category (PLN), 2010-2014
Table 94: Polish Non-Life Insurance - Gross Written Premium by Sub-Category (PLN), 2014-2019
Table 95: Polish Non-Life Insurance - Direct Written Premium by Sub-Category (PLN), 2010-2014
Table 96: Polish Non-Life Insurance - Direct Written Premium by Sub-Category (PLN), 2014-2019
Table 97: Polish Non-Life Insurance - Penetration by Sub-Category (%), 2010-2014
Table 98: Polish Non-Life Insurance - Penetration by Sub-Category (%), 2014-2019
Table 99: Polish Non-Life Insurance - Number of Active Policies by Sub-Category (Thousand), 2010-2014
Table 100: Polish Non-Life Insurance - Number of Active Policies by Sub-Category (Thousand), 2014-2019
Table 101: Insurance Industry Definitions


List of Figures
Figure 1: Polish GDP - Contribution by Sector (%), 2014
Figure 2: Polish Real GDP (PLN Trillion), 2010-2019
Figure 3: Polish Current Account Balance as Percentage of GDP (%), 2010-2019
Figure 4: Polish Consumer Price Inflation, 2010-2019
Figure 5: PLN-US$ Exchange Rate, 2010-2019
Figure 6: Polish Unemployment Rate (%), 2010-2019
Figure 7: Polish Population by Age Group, 1991-2025
Figure 8: Polish Emigration and Immigration, 2010-2014
Figure 9: Polish Non-Life Insurance Penetration - Regional Comparison (%), 2014
Figure 10: Polish Insurance Segment Direct Written Premium Shares - Regional Comparison (%), 2014
Figure 11: Polish Non-Life Insurance - Gross Written Premium (PLN Billion), 2010-2019
Figure 12: Polish Non-Life Insurance - Penetration (%), 2010-2019
Figure 13: Polish Non-Life Insurance - Premium per Capita (PLN), 2010-2019
Figure 14: Polish Non-Life Insurance - Number of Policies Sold (Million), 2010-2019
Figure 15: Polish Non-Life Insurance - Paid Claims (PLN Billion), 2010-2019
Figure 16: Polish Non-Life Insurance - Profitability Ratio (%), 2010-2019
Figure 17: Polish Non-Life Insurance - Total Assets (PLN Billion), 2010-2019
Figure 18: Polish Non-Life Insurance - Total Investment Income (PLN Billion), 2010-2019
Figure 19: Polish Non-Life Insurance - Investment Portfolio (PLN Billion), 2010-2019
Figure 20: Polish Non-Life Insurance - Investment Portfolio Dynamics by Category, 2010-2019
Figure 21: Polish Non-Life Insurance - Gross Written Premium by Category (PLN Billion and US$ Billion), 2010-2019
Figure 22: Polish Non-Life Insurance - Gross Written Premium Dynamics by Category, 2010-2019
Figure 23: Polish Property Insurance - Construction Value Output by Category (PLN Billion), 2010-2020
Figure 24: Polish Property Insurance - Gross Written Premium by Sub-Category (PLN Billion), 2010-2019
Figure 25: Polish Property Insurance - Gross Written Premium Dynamics by Sub-Category, 2010-2019
Figure 26: Polish Property Insurance - Number of Policies Sold by Sub-Category (Million), 2010-2019
Figure 27: Polish Property Insurance - Paid Claims (PLN Billion), 2010-2019
Figure 28: Polish Property Insurance - Earned Premium, Incurred Loss and Loss Ratio (PLN Billion and %), 2010-2019
Figure 29: Polish Motor Insurance - Share of New Vehicle Registrations (%), 2014
Figure 30: Polish Motor Insurance - Gross Written Premium by Sub-Category (PLN Billion), 2010-2019
Figure 31: Polish Motor Insurance - Gross Written Premium Dynamics by Sub-Category, 2010-2019
Figure 32: Polish Motor Insurance - Number of Policies Sold by Sub-Category (Million), 2010-2019
Figure 33: Polish Motor Insurance - Paid Claims (PLN Billion), 2010-2019
Figure 34: Polish Motor Insurance - Earned Premium, Incurred Loss and Loss Ratio (PLN Billion and %), 2010-2019
Figure 35: Polish Liability Insurance - Gross Written Premium (PLN Billion), 2010-2019
Figure 36: Polish Liability Insurance - Number of Policies Sold (Million), 2010-2019
Figure 37: Polish Liability Insurance - Paid Claims (PLN Million), 2010-2019
Figure 38: Polish Liability Insurance - Earned Premium, Incurred Loss and Loss Ratio (PLN Billion and %), 2010-2019
Figure 39: Polish Marine, Aviation and Transit Insurance - Gross Written Premium (PLN Million), 2010-2019
Figure 40: Polish Marine, Aviation and Transit Insurance - Number of Policies Sold (Thousand), 2010-2019
Figure 41: Polish Marine, Aviation and Transit Insurance - Paid Claims (PLN Million), 2010-2019
Figure 42: Polish Marine, Aviation and Transit Insurance - Earned Premium, Incurred Loss and Loss Ratio (PLN Million and %), 2010-2019
Figure 43: Polish Non-Life Insurance - Direct Written Premium by Distribution Channel (%), 2010, 2014 and 2019
Figure 44: Polish Frequency of Hazards by Type, 1990-2014
Figure 45: Polish Mortality of Hazards by Type, 1990-2014
Figure 46: Polish Economic Issues Caused by Hazards by Type, 1990-2014
Figure 47: Polish Non-Life Insurance - Shares of Top Insurers (%), 2014
Figure 48: Poland - The Three Pillars of Solvency II
Figure 49: Poland - Insurance Supervision and Control at Various Levels
Figure 50: Poland - Insurance Regulatory Frameworks for Company Registration and Operation

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