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Analyzing the level of insurance premiums compared to GDP, Poland is below the European average.From a market growth outlook this opens up enormous opportunities to ramp up sales in neighboring countries where spending for insurance is much higher.
In 2013, a statistical European spend EUR 1,882.71 on insurance (density index), while an average Pole spent EUR (i.e. PLN 1,503.1), that is 5 times less. Almost 60% of the premiums of an average European and 54% of an average Pole and are paid towards life insurance.
In 2013, a statistical European spend EUR 1,882.71 on insurance (density index), while an average Pole spent EUR (i.e. PLN 1,503.1), that is 5 times less. Almost 60% of the premiums of an average European and 54% of an average Pole and are paid towards life insurance.
In analyzing the level of the premium compared with GDP (penetration ratio), Poland is below the European average. This indicator for Poland is slightly above half of the European average. Central and Eastern European countries, such as Estonia and Latvia, in which PZU operates, have a ratio of 1.7% and 1.3% accordingly, which, from the point of view of market development, opens up huge opportunities for sales growth.
Insurance value versus GDP (%)
1 According to latest “Statistics: European Insurance in Figures” report, 6 January 2015;
