Synopsis
Timetric's 'Life Insurance in Poland Key Trends and Opportunities to 2020' report provides a detailed outlook by product category for the Polish life insurance segment, and a comparison of the Polish insurance industry with its regional counterparts.
It provides key performance indicators such as written premium, incurred loss, loss ratio, commissions and expenses, total assets, total investment income and retentions during the review period (2011-2015) and forecast period (2015-2020).
The report also analyzes distribution channels operating in the segment, gives a comprehensive overview of the Polish economy and demographics, 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 'Life Insurance in Poland, Key Trends and Opportunities to 2020' report provides in-depth market analysis, information and insights into the Polish life insurance segment, including:
An overview of the Polish life insurance segment
The Polish life insurance segment's growth prospects by category
A comprehensive overview of the Polish economy and demographics
A comparison of the Polish life insurance segment with its regional counterparts
The various distribution channels in the Polish life insurance segment
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 life insurance segment in Poland:
It provides historical values for the Polish life insurance segment for the report's 2011-2015 review period, and projected figures for the 2015-2020 forecast period.
It offers a detailed analysis of the key categories in the Polish life insurance segment, and market forecasts to 2020.
It provides a comparison of the Polish life insurance segment with its regional counterparts
It analyzes the various distribution channels for life insurance products in Poland.
It profiles the top 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 life insurance segment, and each category within it.
Understand the demand-side dynamics, key market trends and growth opportunities in the Polish life insurance segment.
Assess the competitive dynamics in the 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
On March 17, 2016, the European Commission (EC) stated that there was uncertainty regarding the renewal of the Insurance Block Exemption Regulation (Regulation 267/2010) (IBER), which is due to expire on March 31, 2017.
Solvency II came into force in Poland on January 1, 2016. It is based on three pillars: risk-based quantitative requirements, governance and supervision, and disclosure and transparency.
The Polish Financial Supervisory Authority (PFSA) issued Recommendation U for bancassurance, effective from April 1, 2015.
Life Insurance in Poland, Key Trends and Opportunities to 2020
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 Assets and investments
5 Outlook by Sub-Segment
5.1 Individual Life Insurance
5.1.1 Premium
5.1.2 Policies sold
5.1.3 Penetration
5.2 Group Life Insurance
5.2.1 Premium
5.2.2 Policies sold
5.2.3 Penetration
6 Distribution Channel Outlook
6.1 Analysis by Distribution Channel
7 Competitive Landscape
7.1 Company Profiles
7.1.1 PZU ?ycie SA - company overview
7.1.2 Aviva TUn? SA - company overview
7.1.3 MetLife TUn?iR SA - company overview
7.1.4 Open Life Tu ?ycie SA - company overview
7.1.5 Tun? Warta SA - company overview
8 Governance, Risk and Compliance
8.1 Legislation Overview and Historical Evolution
8.2 Latest Changes in Regulation
8.3 Legislation and Market Practice by Type of Insurance
8.3.1 Life insurance
8.3.2 Property insurance
8.3.3 Motor insurance
8.3.4 Liability insurance
8.3.5 Marine, aviation and transit insurance
8.3.6 Personal accident and health insurance
8.4 Compulsory Insurance
8.4.1 Motor third-party liability insurance
8.4.2 Social insurance system
8.4.3 Air carriers and aircraft operators insurance
8.4.4 Marine liability insurance
8.4.5 Professional indemnity insurance for alternative investment fund managers
8.4.6 Clinical trial liability
8.4.7 Liability for ships with respect to oil pollution
8.5 Supervision and Control
8.5.1 International Association of Insurance Supervisors
8.5.2 European Insurance and Occupational Pensions Authority
8.5.3 Federation of European Risk Management Associations
8.5.4 Polish Financial Supervision Authority
8.5.5 Polish Chamber of Insurance
8.6 Non-Admitted Insurance Regulations
8.6.1 Overview
8.6.2 Intermediaries
8.6.3 Market practices
8.6.4 Fines and Penalties
8.7 Company Registration and Operations
8.7.1 Type of insurance organization
8.7.2 Establishing a local company
8.7.3 Foreign ownership
8.7.4 Types of license
8.7.5 Capital requirements
8.7.6 Solvency margin
8.7.7 Reserve requirements
8.7.8 Investment regulations
8.7.9 Statutory return requirements
8.7.10 Feestructure 97
8.8 Taxation
8.8.1 Insurance premium or policy taxation
8.8.2 Withholding taxes on premium paid overseas
8.8.3 Corporate tax
8.8.4 VAT
8.8.5 Captives
8.9 Legal System
8.9.1 Introduction
8.9.2 Access to court
8.9.3 Alternative dispute resolution (ADR)
9 Databook
9.1 Policies and Premium
9.2 Claims and Expenses
9.3 Assets and Investments
9.4 Direct Marketing
9.5 Insurance Brokers and Agencies
9.6 Bancassurance and Other Distribution Channels
9.7 Individual Life Insurance
9.8 Individual Life Insurance by Product
9.9 Group Life Insurance
9.1 Group Life Insurance by Product
9.11 Individual Life - Single vs. Non-Single Premium
9.12 Group Life - Single vs. Non-Single Premium
9.13 Linked vs. Non-Linked Policies
10 Definitions and Methodology
10.1 Definitions
10.2 Methodology
11 About Timetric
11.1 Contact Timetric
11.2 About Timetric
11.3 Timetric's Services
11.4 Disclaimer
List of Tables
Table 1: Polish Life Insurance - Key Facts, 2015
Table 2: Polish Life Insurance - Segment Shares of the Top Insurers, 2015
Table 3: Polish Government Credit Ratings, 2017
Table 4: Polish Life Insurance - Gross Written Premium (PLN Billion and US$ Billion), 2011-2015
Table 5: Polish Life Insurance - Penetration (%), 2011-2015
Table 6: Polish Life Insurance - Gross Written Premium (PLN Billion and US$ Billion), 2015-2020
Table 7: Polish Life Insurance - Penetration (%), 2015-2020
Table 8: Polish Life Insurance - Premium per Capita (PLN and US$), 2011-2015
Table 9: Polish Life Insurance - Premium per Capita (PLN and US$), 2015-2020
Table 10: Polish Life Insurance - Number of Policies Sold (Million), 2011-2015
Table 11: Polish Life Insurance - Number of Policies Sold (Million), 2015-2020
Table 12: Polish Life Insurance - Paid Claims (PLN Billion and US$ Billion), 2011-2015
Table 13: Polish Life Insurance - Paid Claims (PLN Billion and US$ Billion), 2015-2020
Table 14: Polish Life Insurance - Total Assets (PLN Billion and US$ Billion), 2011-2015
Table 15: Polish Life Insurance - Total Assets (PLN Billion and US$ Billion), 2015-2020
Table 16: Polish Life Insurance - Total Investment Income (PLN Billion and US$ Billion), 2011-2015
Table 17: PLN Life Insurance - Total Investment Income (PLN Billion and US$ Billion), 2015-2020
Table 18: Polish Life Insurance - Investment Portfolio (PLN Billion), 2011-2015
Table 19: PLN Life Insurance - Investment Portfolio (PLN Billion), 2015-2020
Table 20: Polish Life Insurance - Direct Written Premium by Sub-Segment (PLN Billion),2011-2015
Table 21: Polish Life Insurance - Direct Written Premium by Sub-Segment (PLN Billion), 2015-2020
Table 22: Polish Individual Life Insurance - Direct Written Premium by Category (PLN Billion), 2011-2015
Table 23: PLN Individual Life Insurance - Direct Written Premium by Category (PLN Billion), 2015-2020
Table 24: Polish Individual Life Insurance - Number of Policies Sold by Category (Thousand), 2011-2015
Table 25: Polish Individual Life Insurance - Number of Policies Sold by Category (Thousand), 2015-2020
Table 26: Polish Group Life Insurance - Direct Written Premium by Category (PLN Billion), 2011-2015
Table 27: Polish Group Life Insurance - Direct Written Premium by Category (PLN Billion), 2015-2020
Table 28: Polish Group Life Insurance - Number of Policies Sold by Category (Thousand), 2011-2015
Table 29: Polish Group Life Insurance - Number of Policies Sold by Category (Thousand), 2015-2020
Table 30: Polish Life Segment - Market Shares of Leading Insurers (%), 2015
Table 31: PZU ?ycie SA - Key Facts
Table 32: PZU ?ycie SA - Key Financials (PLN Million), 2011-2015
Table 33: Aviva TUn? SA - Key Facts
Table 34: Aviva TUn? SA - Key Financials (PLN Million), 2011-2015
Table 35: MetLife TUn?iR SA - Key Facts
Table 36: Open Life Tu ?ycie SA - Key Facts
Table 37: Open Life Tu ?ycie SA - Key Financials (PLN Million), 2011-2015
Table 38: Tun? Warta SA - Key Facts
Table 39: Tun? Warta SA - Key Financials (PLN Million), 2011-2015
Table 40: Poland - Insurance Regulatory Framework Key Features
Table 41: Poland - Life Insurance Regulatory Framework
Table 42: Poland - Property Insurance Regulatory Framework
Table 43: Poland - Motor Insurance Regulatory Framework
Table 44: Poland - Liability Insurance Regulatory Framework
Table 45: Poland - Minimum Cover for Aircraft Third-Party Liability Per Accident Per Aircraft
Table 46: Poland - Corporate Tax Rate for the Financial Year 2016
Table 47: Polish Life Insurance - Policies and Premium, 2011-2015
Table 48: Polish Life Insurance - Policies and Premium, 2015-2020
Table 49: Polish Life Insurance - Claims and Expenses, 2011-2015
Table 50: Polish Life Insurance - Claims and Expenses, 2015-2020
Table 51: Polish Life Insurance - Assets and Investments, 2011-2015
Table 52: Polish Life Insurance - Assets and Investments, 2015-2020
Table 53: Polish Life Insurance - Direct Marketing, 2011-2015
Table 54: Polish Life Insurance - Direct Marketing, 2015-2020
Table 55: Polish Life Insurance - Insurance Brokers and Agencies, 2011-2015
Table 56: Polish Life Insurance - Insurance Brokers and Agencies, 2015-2020
Table 57: Polish Life Insurance - Bancassurance and Other Distribution channels,
Table 58: Polish Life Insurance - Bancassurance and Other Distribution channels, 2015-2020
Table 59: Polish Life Insurance - Individual Life Insurance, 2011-2015
Table 60: Polish Life Insurance - Individual Life Insurance, 2015-2020
Table 61: Polish Life Insurance - Individual Life Insurance by Product, 2011-2015
Table 62: Polish Life Insurance - Individual Life Insurance by Product, 2015-2020
Table 63: Polish Life Insurance - Group Life Insurance, 2011-2015
Table 64: Polish Life Insurance - Group Life Insurance, 2015-2020
Table 65: Polish Life Insurance - Group Life Insurance by Product, 2011-2015
Table 66: Polish Life Insurance - Group Life Insurance by Product, 2015-2020
Table 67: Polish Life Insurance - Individual Life Insurance by Premium, 2011-2015
Table 68: Polish Life Insurance - Individual Life Insurance by Premium, 2015-2020
Table 69: Polish Life Insurance - Group Life Insurance by Premium, 2011-2015
Table 70: Polish Life Insurance - Group Life Insurance by Premium, 2015-2020
Table 71: Polish Life Insurance - Linked vs. Non-Linked Policies, 2011-2015
Table 72: Polish Life Insurance - Linked vs. Non-Linked Policies, 2015-2020
Table 73: Insurance Industry Definitions
List of Figures
Figure 1: Polish Real GDP (PLN Trillion), 2011-2020
Figure 2: Polish Consumer Price Inflation (%), 2011-2020
Figure 3: Polish Current Account Balance as Percentage of GDP (%), 2011-2015
Figure 4: Polish Unemployment Rate, 2011-2020
Figure 5: Polish Population by Age Group, 1991-2025
Figure 6: Polish Life Insurance Penetration - Regional Comparison (%), 2015
Figure 7: Polish Insurance Segment Direct Written Premium Shares - Regional Comparison (%), 2015
Figure 8: Polish Life Insurance - Gross Written Premium (PLN Billion), 2011-2020
Figure 9: Polish Life Insurance - Penetration (%), 2011-2020
Figure 10: Polish Life Insurance - Premium per Capita (PLN), 2011-2020
Figure 11: Polish Life Insurance - Number of Policies Sold (Million), 2011-2020
Figure 12:Polish Life Insurance - Paid Claims (PLN Billion), 2011-2020
Figure 13: Polish Life Insurance - Total Assets (PLN Billion), 2011-2020
Figure 14: Polish Life Insurance - Total Investment Income (PLN Billion), 2011-2020
Figure 15: Polish Life Insurance - Investment Portfolio (PLN Billion), 2011-2020
Figure 16: Polish Life Insurance-Investment Portfolio Dynamics by Category, 2011-2020
Figure 17: Polish Life Insurance - Direct Written Premium by Sub-Segment (PLN Billion), 2011-2020
Figure 18: Polish Life Insurance - Direct Written Premium Share by Sub-Segment, 2011-2020
Figure 19: Polish Life Insurance - Direct Written Premium Dynamics by Sub-Segment, 2011-2020
Figure 20: Polish Individual Life Insurance - Direct Written Premium by Category (PLN Billion), 2011-2020
Figure 21: Polish Individual Life Insurance - Direct Written Premium Share by Category, 2011-2020
Figure 22: Polish Individual Life Insurance - Direct Written Premium Dynamics by Category, 2011-2020
Figure 23: Polish Individual Life Insurance - Number of Policies Sold by Category (Million), 2011-2020
Figure 24: Polish Individual Life Insurance - Penetration (%), 2011-2015
Figure 25: Polish Individual Life Insurance - Penetration (%), 2015-2020
Figure 26: Polish Group Life Insurance - Direct Written Premium by Category (PLN Billion), 2011-2020
Figure 27: Polish Group Life Insurance - Direct Written Premium Dynamics by Category (PLN Billion), 2011-2020
Figure 28: Polish Group Life Insurance - Number of Policies Sold by Category (Million), 2011-2020
Figure 29: Polish Group Life Insurance - Penetration (%), 2011-2015
Figure 30: Polish Group Life Insurance - Penetration (%), 2015-2020
Figure 31: Polish Life Segment - Market Shares of Leading Insurers (%), 2015
Figure 32: Poland - The Three Pillars of Solvency II
Figure 33: Poland - Insurance Supervision and Control at Various Levels
Figure 34: Poland - Insurance Regulatory Frameworks for Company Registration and Operation
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