The production value of non-life insurance in Poland reached €4.95 billion in 2023. Over the past decade, there have been notable fluctuations. The value declined from 2013 to 2015, reaching a low of €2.98 billion. A rebound occurred from 2016, peaking at €4.85 billion in 2022. The average annual growth rate (CAGR) over the last five years was a modest 1.39%, with a significant recovery phase noted between 2016-2018. Looking forward, the forecast for the next five years projects an average annual growth rate of 1.68%, anticipating a production value of €5.49 billion in 2028. This translates to a growth rate of 8.69% over this period.
Future trends to watch for:
- The impact of evolving regulatory changes and potential market liberalization.
- Growth in digitalization efforts among insurers.
- Increasing importance of climate risks influencing policy structures.
- Potential uptick in demand for cyber and health insurance products.
