Poland Insurance Report Q1 2010 |  | Author: Business Monitor International
Publisher: MarketResearch.com
Category: Book
Buy New: $530.00
as of 9/9/2010 12:11 CDT details
Seller: Amazon.com
Format: Download: PDF
Media: Digital
Pages: 90
ASIN: B0032JJL7E
Publication Date: December 16, 2009
Availability: Available for download now
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| Editorial Reviews:
Product Description
This report differs from its predecessors in several respects. In our analysis of competitive conditions, we provide a much more comprehensive ranking of insurance companies in the major segments from the point of view of the organisation that is providing the data (in practice almost always the national insurance regulator or the national insurance trade association). In Poland, for instance, the three largest non-life companies in the first half of 2009 - in terms of Gross Written Premiums written - were PZU SA, STU ERGO Hestia SA and TUiR WARTA SA, whose market shares were 38.9%, 10.0% and 9.4% respectively. In the life segment, the leaders in the first half of 2009 were PZU Zycie SA, ING TUnZ SA and TUnZ WARTA SA, whose market shares were 28.1%, 11.1% and 9.4% respectively. Over time, we hope to derive insights from observing how market shares change. We emphasise though, that a decline in share of Gross Written Premiums is not automatically a bad thing and is often the result of a deliberate corporate decision to focus on more profitable business lines.
In this report, we also provide a breakdown of the insurance sector by line - from the point of view of the regulator or the trade association. In Poland, for instance, the largest non-life lines in calendar 2008 were Compulsory Motor Third Party Liability (CMTPL), land vehicles voluntary insurance (CASCO) and Fire and Diverse Risks. These accounted for 35%, 26% and 10%, respectively, of total non-life premiums. Over time, we should be able to use this information to bring greater sophistication to our forecasting process.
Writing in November 2009, we have been able to ensure that the report includes actual data for 2008. We have generally been able to use data that has been published over the course of 2009 to adjust our forecasts for the year as a whole. We have also extended the forecasts out to 2014. We are looking for total premiums in 2009 of PLN55,756mn. This includes non-life premiums of PLN22,158mn and life premiums of PLN33,598mn. In 2014, the corresponding figures should be PLN74,423mn, PLN37,793mn and PLN36,630mn. In terms of the key drivers that underpin our forecasts, we are looking for non-life penetration to rise from 1.68% in 2009 to 2.08% in 2014, and for life density to rise from US$288 to US$340. BMI’s proprietary Insurance Business Environment Rating for Poland is 59.7.
This quarter, we include a discussion of developments within regional markets - on the basis of results published by major cross-border companies in relation to Q209 or Q309 and the latest information provided by regulators and/or trade associations. In their latest reports, both PZU and Vienna Insurance Group have discussed the sharp downturn in life premiums relative to 2008 - which has only partly been due to the economic downturn in Poland.
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