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Reinsurance in Poland, Key Trends and Opportunities to 2018

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Date: 10-Jan-2015
No. of pages: 78
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Synopsis

The Polish reinsurance segment recorded stable growth and posted a compound annual growth rate (CAGR) of 7% during the review period (2009-2013). This growth was driven by the non-life insurance segment, which increased the share of written premium ceded to reinsurers. Poland was adversely affected by natural disasters such as flooding in 2010, which resulted in large insurance claims and encouraged insurance companies operating in the non-life segment to utilize reinsurance services to minimize future losses. The percentage of non-life insurance premium ceded to reinsurers is expected to increase over the forecast period (2013-2018), from 14.6% in 2012 to 16.8% in 2017. This, coupled with projected economic growth and the high frequency of natural disasters, is expected to drive the reinsurance segment to post a forecast-period (2013-2018) CAGR of 4.6%.

Summary

The report provides in-depth market analysis, information and insights into the Polish reinsurance segment, including:


  • The Polish reinsurance segment's growth prospects by reinsurance category

  • Key trends and drivers for the reinsurance segment

  • Polish reinsurance segment's growth prospects by reinsurance ceded from direct insurance

  • The competitive landscape in the Polish reinsurance segment


Scope

This report provides a comprehensive analysis of the reinsurance segment in Poland:


  • It provides historical values for the Polish reinsurance segment for the report's 2009-2013 review period, and projected figures for the 2013-2018 forecast period.

  • It offers a detailed analysis of the key categories in Poland's reinsurance segment, along with market forecasts until 2018.

  • It provides a detailed analysis of the reinsurance ceded from various direct insurance segments in Polishd its growth prospects.


Reasons To Buy

  • Make strategic business decisions using in-depth historic and forecast market data related to the Polish reinsurance segment and each sector within it

  • Understand the demand-side dynamics, key market trends and growth opportunities in the Polish reinsurance segment

  • Identify the 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

  • Reinsurance in Poland grew during the review period: its written premium increased in 2013, at a review-period CAGR of 7% .

  • The presence of large multinational reinsurers in Poland, such as Swiss Re, Munich Re and Allianz, making the segment highly competitive.

  • The Polish Financial Supervision Authority (PFSA) allows non-EU reinsurers to operate in the insurance industry, provided they comply with the required provisions.

  • Poland is prone to natural disasters such as floods and earthquakes, and a number of natural disasters occurred in the country during the review period, prompting insurers, especially those operating in property insurance, to share a larger portion of revenue with reinsurers.

  • The facultative reinsurance category accounted for 98.9% of the total reinsurance written premium value in 2013, which is expected to be the dominant category over the forecast period.

  • Polish Re is the only domestic operator in the country that focuses solely on reinsurance. The company operates in over 40 countries across the world, with over 200 clients.

Reinsurance in Poland, Key Trends and Opportunities to 2018

Table of Contents

1 Key Facts and Events

2 Executive Summary

3 Introduction
3.1 What is this Report About?
3.2 Definitions
3.3 Methodology

4 Polish Insurance Industry Attractiveness
4.1 Insurance Industry Size, 2009-2018

5 Reinsurance Growth Dynamics and Challenges
5.1 Reinsurance Segment Size, 2009-2018
5.2 Reinsurance Segment Size by Premium Ceded, 2009-2018

6 Key Industry Trends and Drivers
6.1 Fundamental Business Drivers
6.2 Life Insurance Segment Drivers
6.3 Non-Life Insurance Segment Drivers
6.4 Personal Accident and Health Insurance Segment Drivers

7 Competitive Landscape and Strategic Insights
7.1 Overview
7.2 Leading Companies in the Polish Reinsurance Segment
7.3 Polish Reinsurance Company - Company Overview
7.3.1 Polish Reinsurance Company - key facts
7.4 RGA International Reinsurance Company Ltd - Company Overview
7.4.1 RGA International Reinsurance Company Ltd - key facts
7.5 Swiss Re - Company Overview
7.5.1 Swiss Re - key facts

8 Appendix - 1
8.1 Market Capitalization Trend - Warsaw Stock Exchange, Poland
8.2 GDP at Constant Prices (US$)
8.3 GDP per Capita at Constant Prices (US$)
8.4 GDP at Current Prices (US$)
8.5 GDP per Capita at Current Prices (US$)
8.6 GDP by Key Sector
8.7 Agriculture, Hunting, Forestry and Fishing Net Output at Current Prices (US$)
8.8 Agriculture Net Output at Current Prices as a Percentage of GDP
8.9 Manufacturing Net Output at Current Prices (US$)
8.1 Manufacturing Net Output at Current Prices as a Percentage of GDP
8.11 Mining, Manufacturing and Utilities at Current Prices (US$)
8.12 Mining, Manufacturing and Utilities at Current Prices, as a Percentage of GDP
8.13 Construction Net Output at Current Prices, (US$)
8.14 Construction Net Output at Current Prices as a Percentage of GDP
8.15 Inflation Rate
8.16 Exports as a Percentage of GDP
8.17 Imports as a Percentage of GDP
8.18 Merchandise Exports Growth
8.19 Merchandise Imports Growth
8.2 Annual Average Exchange Rate PLN-US$
8.21 Commercial Vehicle Imports - Total Value
8.22 Commercial Vehicle Exports - Total Value
8.23 Automotive Exports - Total Value
8.24 Automotive Imports - Total Value
8.25 Total Internet Subscribers
8.26 Labor Force
8.27 Unemployment Rate
8.28 Total Population
8.29 Urban and Rural Populations
8.3 Age Distribution of the Total Population
8.31 Life Expectancy

9 Appendix - 2
9.1 Methodology
9.2 Contact Timetric
9.3 About Timetric
9.4 Timetric's Services
9.5 Disclaimer

List of Tables

Table 1: Polish Reinsurance - Key Facts, 2013
Table 2: Insurance Industry Definitions
Table 3: Polish Insurance - Gross Written Premium by Segment (PLN Billion), 2009-2013
Table 4: Polish Insurance - Gross Written Premium by Segment (US$ Billion), 2009-2013
Table 5: Polish Insurance - Gross Written Premium by Segment (PLN Billion), 2013-2018
Table 6: Polish Insurance - Gross Written Premium by Segment (US$ Billion), 2013-2018
Table 7: Polish Insurance - Segmentation, Gross Written Premium (Percentage Share), 2009-2018
Table 8: Polish Insurance - Direct Written Premium by Segment (PLN Billion), 2009-2013
Table 9: Polish Insurance - Direct Written Premium by Segment (US$ Billion), 2009-2013
Table 10: Polish Insurance - Direct Written Premium by Segment (PLN Billion), 2013-2018
Table 11: Polish Insurance - Direct Written Premium by Segment (US$ Billion), 2013-2018
Table 12: Polish Insurance - Segmentation, Direct Written Premium (Percentage Share), 2009-2018
Table 13: Polish Reinsurance - Premium Accepted by Category (PLN Million), 2009-2013
Table 14: Polish Reinsurance - Premium Accepted by Category (US$ Million), 2009-2013
Table 15: Polish Reinsurance - Premium Accepted by Category (PLN Million), 2013-2018
Table 16: Polish Reinsurance - Premium Accepted by Category (US$ Million), 2013-2018
Table 17: Polish Reinsurance - Premium Ceded by Type of Insurance (PLN Million), 2009-2013
Table 18: Polish Reinsurance - Premium Ceded by Type of Insurance (US$ Million), 2009-2013
Table 19: Polish Reinsurance - Premium Ceded by Type of Insurance (PLN Million), 2013-2018
Table 20: Polish Reinsurance - Premium Ceded by Type of Insurance (US$ Million), 2013-2018
Table 21: Polish Life Insurance - Percentage of Reinsurance Ceded (%), 2009-2013
Table 22: Polish Life Insurance - Percentage of Reinsurance Ceded (%), 2013-2018
Table 23: Polish Non-Life Insurance - Percentage of Reinsurance Ceded, 2009-2013
Table 24: Polish Non-Life Insurance - Percentage of Reinsurance Ceded, 2013-2018
Table 25: Polish Personal Accident and Health Insurance - Percentage of Reinsurance Ceded (%), 2009-2013
Table 26: Polish Personal Accident and Health Insurance - Percentage of Reinsurance Ceded (%), 2013-2018
Table 27: Polish Reinsurance - Leading Companies, 2012
Table 28: Polish Reinsurance Company, Key Facts
Table 29: RGA International Reinsurance Company Ltd, Key Facts
Table 30: Swiss Re, Key Facts

List of Figures

Figure 1: Polish Insurance - Gross Written Premium by Segment (PLN Billion), 2009-2018
Figure 2: Polish Insurance - Dynamics by Segment, Gross Written Premium (2009-2018)
Figure 3: Polish Insurance - Direct Written Premium by Segment (PLN Billion), 2009-2018
Figure 4: Polish Insurance - Dynamics by Segment, Direct Written Premium (2009-2018)
Figure 5: Polish Reinsurance - Premium Accepted by Category (PLN Billion), 2009-2018
Figure 6: Polish Reinsurance - Premium Accepted by Category (Percentage Share), 2013 and 2018
Figure 7: Polish Reinsurance - Premium Accepted Dynamics by Category, 2009-2018
Figure 8: Polish Reinsurance - Premium Ceded by Type of Insurance (PLN Billion), 2009-2018
Figure 9: Polish Reinsurance - Premium Ceded Dynamics by Type of Insurance, 2009-2018
Figure 10: Polish Life Insurance - Percentage of Reinsurance Ceded (%), 2009-2013
Figure 11: Polish Life Insurance - Percentage of Reinsurance Ceded (%), 2013-2018
Figure 12: Polish Non-Life Insurance - Percentage of Reinsurance Ceded, 2009-2013
Figure 13: Polish Non-Life Insurance - Percentage of Reinsurance Ceded, 2013-2018
Figure 14: Polish Personal Accident and Health Insurance - Percentage of Reinsurance Ceded (%), 2009-2013
Figure 15: Polish Personal Accident and Health Insurance - Percentage of Reinsurance Ceded (%), 2013-2018
Figure 16: Polish, Warsaw Stock Exchange Market Capitalization (US$ Billion), 2008-2012
Figure 17: Polish GDP at Constant Prices (US$ Billion), 2009-2013
Figure 18: Polish GDP Per Capita at Constant Prices (US$), 2009-2013
Figure 19: Polish GDP at Current Prices (US$ Billion), 2009-2013
Figure 20: Polish GDP Per Capita at Current Prices (US$), 2009-2013
Figure 21: Polish GDP by Key Sector (%) 2008 and 2012
Figure 22: Polish Agriculture Net Output at Current Prices (US$ Billion), 2008-2012
Figure 23: Polish Agriculture Net Output at Current Prices as a Percentage of GDP (%), 2008-2012
Figure 24: Polish Manufacturing Net Output at Current Prices (US$ Billion), 2008-2012
Figure 25: Polish Manufacturing Net Output at Current Prices as a Percentage of GDP (%), 2008-2012
Figure 26: Polish Mining, Manufacturing and Utilities Net Output at Current Prices (US$ Billion), 2008-2012
Figure 27: Polish Mining, Manufacturing and Utilities Net Output at Current Prices as a percentage of GDP (%), 2008-2012
Figure 28: Polish Construction Net Output at Current Prices (US$ Billion), 2008-2012
Figure 29: Polish Construction Output at Current Prices as a Percentage of GDP (%), 2008-2012
Figure 30: Polish Inflation Rate (%), 2009-2013
Figure 31: Polish Exports as a Percentage of GDP (%), 2008-2012
Figure 32: Polish Imports as a Percentage of GDP (%), 2008-2012
Figure 33: Polish Merchandise Exports Growth (%), 2009-2012
Figure 34: Polish Merchandise Imports Growth (%), 2009-2012
Figure 35: Polish Annual Average Exchange Rate US$-PLN, 2009-2013
Figure 36: Polish Commercial Vehicle Imports - Total Value (US$ Million), 2009-2013
Figure 37: Polish Commercial Vehicle Exports - Total Value (US$ Million), 2009-2013
Figure 38: Polish Automotive Exports - Total Value (US$ Million), 2009-2013
Figure 39: Polish Automotive Imports - Total Value (US$ Billion), 2009-2013
Figure 40: Polish Internet Subscriptions (Millions), 2009-2013
Figure 41: Polish Size of Labor Force (Million), 2008-2012
Figure 42: Polish Unemployment Rate (%), 2009-2013
Figure 43: Polish Total Population (Million), 2009-2013
Figure 44: Polish Urban and Rural Populations (%), 2009-2013
Figure 45: Polish Population Distribution by Age (%), 2009-2013
Figure 46: Polish Life Expectancy (Number of Years), 2009-2013

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