Forecast: Value Added of Insurance, Reinsurance and Pension Funding in Poland

The value added of the insurance, reinsurance, and pension funding sector in Poland has shown a varied trajectory over the years. In 2023, it stood at 13.84 billion Zloty. The sector witnessed significant fluctuations between 2013 and 2013, starting with an increase of 56.58% in 2013 and a decline of 15.28% in 2015. The year 2016 marked a recovery with a 29.98% rise, followed by moderate growth till 2023. The average annual growth rate (CAGR) from 2018 to 2023 was relatively modest at 3.08%.

Over the last two years, the sector has experienced a more stable growth pattern with a year-on-year increase of 4.2% in 2022 and 3.99% in 2023. Looking forward, the forecast points to a continued but slower growth rate, with a forecasted CAGR of 2.7% and a forecasted five-year growth rate of 14.24% by 2028.

Future trends to watch for include digitization in insurance processes and the steady increase in the uptake of pension products driven by aging demographics. Regulatory changes and economic fluctuations will also play critical roles in shaping the sector’s trajectory.