STATISTICS: CEE 3Q2015: Mixed results for the Unit-Linked life insurance business
The largest UL market belongs to Poland, where UL products account for about 24% of the total GWP volume. Thus, after a poor 2014, when the UL business went down by 6%, 2015 started with an impressive 18.5% increase in Q1, slowing down to 14.7% in H1 and to 5.7% in Q3. However, despite the growth rhythm's abatement, it seems most probable the Polish UL segment will close 2015 in positive territory.
A different trend was recorded in the second largest UL market in CEE, the Czech Republic, where GWP for this business line went down by 5.7% y-o-y, to EUR 965 million, continuing the negative trend established previously mostly as a consequence of the changes in tax deductibility of private life insurance which led to termination of contracts by some clients and withdrawal of funds.
Mixed trend have recorded also the other relevant UL markets in the region: while in Hungary the UL business remained stable, in the Slovak Republic it went down at an almost 20% pace and in Slovenia saw an 11% increase. At the same time, most of the small markets, where GWP volumes for life insurance in general and UL products in particular are very small, saw impressive double digit rates, up to doubling y-o-y the GWP amount.
Access www.xprimm.com and download the 3Q2015 CEE insurance market statistics:
- Overall Market Data
- Life Insurance Indicators
- Life Unit-Linked Indicators
- Non-Life Insurance Indicators
- MTPL Insurance Market Data
- Motor Hull Insurance Market Data
- Property Insurance Market Data
- GTPL Insurance Market Data
- Top 50 life insurers as GWP
- Top 50 non-life insurers as GWP