Strong Economy, Growing Stock Market and Increasing Wealth of Individuals Will Contribute To the Further Growth of Insurance Market in Poland.DUBLIN Dublin, city, Republic of Ireland Dublin, Irish Baile Átha Cliath, county borough (1991 pop. 915,516), Leinster, capital of the Republic of Ireland, on Dublin Bay at the mouth of the Liffey River. , Ireland Ireland, Irish Eire (âr`ə) [to it are related the poetic Erin and perhaps the Latin Hibernia], island, 32,598 sq mi (84,429 sq km), second largest of the British Isles. -- Research and Markets (http://www.researchandmarkets.com/reports/c38554) has announced the addition of "Insurance Market in Poland Poland, Pol. Polska, officially Republic of Poland, republic (2005 est. pop. 38,635,000), 120,725 sq mi (312,677 sq km), central Europe. It borders on Germany in the west, on the Baltic Sea and the Kaliningrad region of Russia in the north, on Lithuania, 2006 - CEE cee n. The letter c. Insurance Series" to their offering. The Insurance market in Poland is developing quickly. During the period 2000-2005 the gross premium was growing at over 8% p.a. The life business and unit-linked products in particular contributed most to the growth. At the same time the overall premium/GDP penetration is still relatively low. In 2005 it has reached 3.2% - which is approximately only 37% of EU-15 level. About the report: "Insurance Market in Poland 2006" is the first issue from the new report line on insurance markets. It describes the present market structure and recent trends on the insurance market in Poland. This report puts together many various facts and figures about the market, and about top players. The data has been presented in a structured and logical way in a form of horizontal presentation on 70 slides. Growing market: During the period 2000-2005 the insurance market in Poland experienced strong growth in both life and non-life In the physical sciences, non-life is an umbrella term set to distinguish or characterize those inanimate chemical precursors found in the primeval soup of the early years of planetary evolution from which life, theoretically, evolved or came into existence. segments with the average premium growth rate exceeding 8%. The life business and unit-linked products in particular contributed most to the growth. In 2005, for the first time in history, the surging life premium has approached the level of non-life premium. At the same time the overall premium/GDP penetration reached 3.2% of GDP GDP (guanosine diphosphate): see guanine. Falling concentration: The market is highly concentrated, which is reflected by high value of HH* Index (1930 and 2650 for life and non-life business respectively). The majority state-owned giant - PZU PZU Port Sudan Airport PZU Pañstwowy Zak³ad Ubezpieczeñ (Polish National Insurance Company) is still dominating on the market with the share of 40-60% depending on segment. This situation is however gradually changing as smaller players aggressively challenge the leader with: lower prices, friendlier customer service, better sales skills and alternative sales channels High profitability: The profitability of insurance industry is high and increasing. In 2005 the average return on equity exceeded 32% and 22% in the life and non-life sector respectively. Traditionally most profits were generated by leaders: PZU and PZU Zycie, enjoying scale benefits, but the financial situation of smaller players in 2005 has also improved against 2004 significantly Good perspectives: Strong economy, growing stock market, improving situation of enterprises and increasing wealth of individuals will contribute to the further growth of insurance market. In short-term Short-term Any investments with a maturity of one year or less. short-term 1. Of or relating to a gain or loss on the value of an asset that has been held less than a specified period of time. perspective the growth will come primarily from life insurance, were particularly unit-linked insurance is expected to keep growing at high rates. The non-life business is likely to rebound rebound (rē´bownd), n/v 1. a recovery from illness. n 2. an outbreak of fresh reflex activity after withdrawal of a stimulus rebound adjective first in 2007-2008 following expected recovery on the new cars market and increased investments of the corporate sector. As far sales channels are concerned, banc assurance and direct channels will quickly gain on importance Key Topics Covered Include: --Macroeconomic overview --Insurance market --Non-life insurance --Life insurance --Bancassurance --Top insurers profiles --Life insurance players --Non-life insurance players For more information visit http://www.researchandmarkets.com/reports/c38554 |
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