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As Talanx and Vienna Expand Rapidly, Polandís Insurance Market Consolidates Finds Inteliace - After a series of M&A transactions led by Talanx and Vienna (VIG), almost 60% of Polandís insurance market was controlled by 3 large groups as of 2012 - Inteliace.com
As Talanx and Vienna Expand Rapidly, Polandís Insurance Market Consolidates Finds Inteliace

 

NewswireToday - /newswire/ - Warszawa, Poland, 2013/07/01 - After a series of M&A transactions led by Talanx and Vienna (VIG), almost 60% of Polandís insurance market was controlled by 3 large groups as of 2012 - Inteliace.com.

   
 
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Poland dominates the insurance sectors in Central and Eastern Europe with 15 billion EUR in annual premiums, a 44% regional premium share, and still high growth potential, which explains the accelerating consolidation and M&A activity,Ē explains Marcin Mazurek, Director of Inteliace Research, a consultancy specializing in CEE financial-markets research.

Despite a slowing economy, the insurance market in Poland sustained solid performance in 2012. With an 8% YoY growth in total premiums in EUR terms, Poland was again beating most of its CEE peers and increased its regional premium share from 42% in 2011 to over 44% in 2012. Particular strength could be observed in life premiums (+11% YoY), which could be attributed to the spike in sales of investment products, in particular, deposit substitutes and unit-linked products (+27% YoY). In addition, the non-life premiums have increased but at a slower pace (+5% YoY), which was an effect of returning price wars in car insurance business.

Significant ownership changes have taken place in the insurance landscape in recent years. Aggressive M&A activity led by Talanx (including acquisitions of Warta and Europa) and transactions of Vienna Insurance Group resulted in the gradual emerging of new leaders. The combined share in premiums of three major groups PZU, Talanx, and VIG topped 60% in 2012, although this might not be visible at first glance due to the high number of their subsidiaries.*ē At the same time, other major firms, including Allianz, ERGO, and Aviva, have seen their market shares eroding, as is the case with many smaller players.
Inteliace Research expects the insurance sector to resume growth in 2014 after overcoming the stagnation likely to occur in the present year. The premiums are expected to increase at an average rate of 8% and 6% in the non-life and life insurance business respectively during 2014 2015.

About the Report
ďThe Insurance Market in Poland 2013 2015Ē is the latest full update of Inteliaceís annual publication on the insurance sector in Poland. It describes the present market structure and recent trends in the market and provides short-term estimates of insurance premiums for the years 2013 through 2015.

About Inteliace Research
Inteliace Research (inteliace.com) is an independent consltancy that focuses on the financial markets in Central and Eastern Europe. Inteliace Research specializes in management consulting and custom research services, including market entry strategies, product launches, and performance and benchmarking analyses.

During 2005 2013, Inteliace Research provided its products and services to more than 60 clients, including major CEE banks and several "The Banker" top world banks.

 
 
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Written by / Agency / Source: Inteliace

 
 

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As Talanx and Vienna Expand Rapidly, Polandís Insurance Market Consolidates Finds Inteliace

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Publisher Contact: Marcin Mazurek - Inteliace.com 
+48 22 408 66 20 info[.]inteliace.com
 
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IMPORTANT INFORMATION: Issuance, publication or distribution of this press release in certain jurisdictions could be subject to restrictions. The recipient of this press release is responsible for using this press release and the information herein in accordance with the applicable rules and regulations in the particular jurisdiction. This press release does not constitute an offer or an offering to acquire or subscribe for any Inteliace securities in any jurisdiction including any other companies listed or named in this release.

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