With the rising demand for property and liability insurance, the non-life insurance segment is expected to grow at a CAGR of around 10% during 2010-2013.
Online PR News – 22-July-2010 – – As per our new research report “Poland Insurance Market Forecast (2008-2012)”, the Polish insurance market has performed reasonably well over the past couple of years except 2009 when it slipped into negative growth trajectory owing to the financial crisis. Despite this negative growth, it managed to record a CAGR of over 13% during 2005-2009. The market is mainly dominated by the life insurance segment which accounts for around 60% of the Polish insurance market.
Although the market is dominated by life insurance, the non-life segment has shown comparatively more consistent growth and outperformed its life counterpart last year. In fact, it continued to grow at robust pace (close to 12%) even in adverse economic conditions of 2009 when life insurance fell sharply. It grew at a CAGR of around 8% during 2005-2009, forming over 40% of the total insurance market in the country.
Moreover, the growth is expected to accelerate in coming years. As per our estimation, it is expected to grow at a CAGR of around 10% during 2010-2013. Motor insurance constitutes the largest class of insurance business in Poland. However, the recent growth has been mainly driven by high demand for property, annuity and general liability branches of the insurance market.
“Poland Insurance Market Forecast (2008-2012)” provides extensive research and objective analysis of the growing insurance industry in Poland, its structure and demand potential. The report has also identified important players operating in the sector. The key players section talks about business profiling of all leading players. Moreover, it has analyzed all the emerging trends including important drivers and key challenges to help investors understand the market conditions.
The report has also studied the possible growth areas for expansion in the Polish insurance industry. Most importantly, the report has figured out the expected insurance sales of both life insurance and non-life insurance segments, their sub-segments like motor, property, etc. The forecast is based on the correlation between past market growth and growth in base drivers, penetration level, rise in living standard, GDP growth and competitive structure and government support.
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