Insurance sector in Poland and in the Baltic states compared with Europe

In 2015, a statistical European spend EUR 2,010 on insurance (density index), while an average Pole spent EUR 329 (i.e. PLN 1,378), that is 6 times less. Whereas a statistical Latvian (PZU Group operates in Latvia through AAS Balta, the second biggest on the market) spent 112 euro on insurance and an Estonian – 275 euro (PZU operates in Estonia through a branch of Lietuvos Draudimas – PZU Estonia).

Analyzing the level of the premium compared with GDP (penetration ratio), Poland is below the European average. This indicator for Poland is almost 2.5 times lower than the European average. Central and Eastern European countries such as Estonia and Latvia, in which PZU operates, have a ratio of 1.8% and 0.9% accordingly, which, from the point of view of market development, opens up huge opportunities for sales growth.

Penetration ratio (%)

*„Total Premiums and Claims 2015” report published by the Insurance Europe of 30 August 2016,

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