Poland Property & Casualty Insurance Market Size
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 2.5 Billion |
| Market Size (2029) | USD 3.35 Billion |
| CAGR (2024 - 2029) | 6.00 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Poland Property & Casualty Insurance Market Analysis
The Poland Property & Casualty Insurance Market size is estimated at USD 2.5 billion in 2024, and is expected to reach USD 3.35 billion by 2029, growing at a CAGR of 6% during the forecast period (2024-2029).
The Poland Property and Casualty Insurance Market have demonstrated strong performance, with sustained growth expected throughout the forecast period. The non-life insurance sector in Poland is experiencing continuous expansion, contributing to the overall upward trend of the P&C insurance market. Additionally, the region's heightened emphasis on environmental protection, spurred by increasing natural calamities, is driving market growth by encouraging individuals to seek comprehensive property protection through P&C insurance.
Despite a reduction in the number of non-life insurance companies, the insurance market has adapted, presenting both challenges and opportunities. The decline in road accidents and casualties has not only improved safety but also led to increased revenue in the insurance market through these policies.
The continuous increase in Poland's GDP at a rate of 5% signifies a thriving economy, driving heightened demand for property and casualty insurance across various sectors. Moreover, the burgeoning fintech sector is a significant driver, with a continuous rise in the value of Assets Under Management.
Opportunities lie in tapping into the evolving market dynamics, where the increasing awareness of risk mitigation and the need for comprehensive insurance solutions present avenues for growth. The integration of technological advancements in insurance processes also offers opportunities for innovation and enhanced customer experiences in the Poland P&C insurance market.
Poland Property & Casualty Insurance Market Trends
Rising Motor Vehicle Insurance is Driving the Market
Gross Written Premium of motor insurance in Poland has observed a continuous increase over the years, rising to a value of USD 15 million last year, with the number of motor vehicles in the region observing a continuous increase, rising to 34,080 over previous years, among which passenger cars occupy a major segment.
Liability insurance safeguards individuals and businesses against legal liabilities resulting from harm to others, be it bodily injury or property damage. For instance, businesses can opt for public liability insurance, professionals can secure professional liability insurance, and vehicle owners can obtain motor third-party liability insurance.
Moreover, the property and casualty (P&C) insurance market in Poland extends its offerings beyond liability coverage. It includes specialized policies like travel insurance, accident insurance, cyber insurance, and agricultural insurance, catering to distinct risks and requirements.
The Increase in Premium for Non-Life Insurance Outpace increase in Claim showing Healthy Market.
Among the personal and property insurance in Poland, motor and property insurance are the segments having the largest gross written premium, with the property claims existing in the insurance market at more than USD 650 Million. The city of Warszawa, Wroclaw, and Gdansk in Poland exists with the largest price of real estate insurance. Last year's increase in non-life insurance claims was 11.6% compared to the previous year.
The value of personal and property crime insurance in Poland has continuously risen, existing at USD 91 Million last year. This leads to insurance providers expanding their products with different products based on user requirements. The value of gross premiums written by property insurance companies in Poland rose to USD 2.4 Billion last year, showing a rising P&C insurance market in the region.
Poland Property & Casualty Insurance Industry Overview
The property and casualty insurance market in Poland is highly competitive. A large number of national and international players are operating in the market. Almost 29 non-life insurance companies are operating in the market. Rising fintech and the adoption of digital technology are expanding the reach of P&C insurance in Poland. Some existing players in Poland's P&C insurance market are Allianz, PZU, Ergo Hestia, Uniqua, and Compensa.
Poland Property & Casualty Insurance Market Leaders
PZU
Ergo Hestia
Warta
Uniqua
Compensa
*Disclaimer: Major Players sorted in no particular order
Poland Property & Casualty Insurance Market News
- In January 2024, Corsair Capital acquired a majority stake in independent commercial insurance broker MJM. Property and liability (P&C), commercial auto, and reinsurance are among the services offered by MJM.
- In February 2023, Talanx partnered with Bank Millennium to strengthen its business in the core market of Poland through a ten-year bancassurance agreement. Talanx is a German insurance group operating as a multi-brand provider focusing on B2B insurance.
Poland Property & Casualty Insurance Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS AND INSIGHTS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Rise in motor vehicle Insurance driving the Market.
4.2.2 Decline in Motor vehicle accidents and Casualties increasing insurers profit.
4.3 Market Restraints
4.3.1 Rising uncertainty in Global market and economic fluctuation.
4.3.2 Rise in Poland Housing price Index.
4.4 Market Opportunities
4.4.1 Rise in share of P&C insurance taken online
4.4.2 Increase in the Number of Fintech Companies.
4.5 Industry Attractiveness - Porter's Five Forces Analysis
4.5.1 Threat of New Entrants
4.5.2 Bargaining Power of Buyers
4.5.3 Bargaining Power of Suppliers
4.5.4 Threat of Substitutes
4.5.5 Intensity of Competitive Rivalry
4.6 Insights into Regulatory Landscape Impacting the Market
4.7 Insights into Technological Advancement in the Market
4.8 Impact of COVID-19 on the Market
5. MARKET SEGMENTATION
5.1 By Product Type
5.1.1 Motor Insurance
5.1.2 Property Insurance
5.1.3 General Liability Insurance
5.1.4 Other P&Cs
5.2 By Distribution Channel
5.2.1 Agents
5.2.2 Brokers
5.2.3 Banks
5.2.4 Other Distribution Channels
6. COMPETITIVE LANDSCAPE
6.1 Market Concentration Overview
6.2 Company Profiles
6.2.1 PZU
6.2.2 ERGO Hestia
6.2.3 Warta
6.2.4 Uniqua
6.2.5 Compensa
6.2.6 Allianz
6.2.7 Generali
6.2.8 InterRisk
6.2.9 AXA
6.2.10 Wiener Insurance*
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
8. DISCLAIMER
Poland Property & Casualty Insurance Industry Segmentation
Property and casualty insurance is the type of coverage that protects the policyholder's things and property, such as home, car, and other belongings. It also includes liability coverage, which protects users if they are found legally responsible for an accident that causes injuries to another person or damages to their property.
Poland's property and casualty insurance market is segmented by product type and distribution channel. By product type, the market is sub-segmented into motor insurance, property insurance, general liability insurance, and other P&C. By distribution channel, the market is sub-segmented into agents, brokers, banks, and other distribution channels. The report offers market size and forecasts for the Poland property and casualty insurance market in value (USD) for all the above segments.
| By Product Type | |
| Motor Insurance | |
| Property Insurance | |
| General Liability Insurance | |
| Other P&Cs |
| By Distribution Channel | |
| Agents | |
| Brokers | |
| Banks | |
| Other Distribution Channels |
Poland Property & Casualty Insurance Market Research FAQs
How big is the Poland Property & Casualty Insurance Market?
The Poland Property & Casualty Insurance Market size is expected to reach USD 2.5 billion in 2024 and grow at a CAGR of 6% to reach USD 3.35 billion by 2029.
What is the current Poland Property & Casualty Insurance Market size?
In 2024, the Poland Property & Casualty Insurance Market size is expected to reach USD 2.5 billion.
Who are the key players in Poland Property & Casualty Insurance Market?
PZU, Ergo Hestia, Warta, Uniqua and Compensa are the major companies operating in the Poland Property & Casualty Insurance Market.
What years does this Poland Property & Casualty Insurance Market cover, and what was the market size in 2023?
In 2023, the Poland Property & Casualty Insurance Market size was estimated at USD 2.35 billion. The report covers the Poland Property & Casualty Insurance Market historical market size for years: 2020, 2021, 2022 and 2023. The report also forecasts the Poland Property & Casualty Insurance Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Poland Property and Casualty Insurance Industry Report
Statistics for the 2024 Poland Property and Casualty Insurance market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Poland Property and Casualty Insurance analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
