The Polish insurance market remains the largest in Central and Eastern Europe. However, the penetration rate is 2.2%, ranking Poland 53^rd in the world, according to Swiss Re, as EMIS (ISI Emerging Markets Group) analysts noted in the "Poland Insurance Sector Report 2023-2024", Gazeta Ubezpieczeniowa writes.

EMIS indicates that PLN 196.9 billion of assets and PLN 72.4 billion of premiums in 2022 allowed the Polish insurance market to maintain its leadership in CEE. However, compared to Western European countries, the sector is much smaller. For comparison, market penetration in Denmark, which ranks first in Europe, is 10.9%. Among CEE countries, higher penetration rates can be found in Slovenia, the Czech Republic and Croatia.

EMIS analysts believe that the low level of penetration of the insurance market in Poland indicates a substantial opportunity for further expansion. The last few years (especially the COVID-19 pandemic) increased customer awareness of insurance. Likewise, the global trend of a healthy and active lifestyle is boosting the interest in insurance. Another factor that could benefit the sector in the long term is the aging of the population. EMIS analysts predict that it will support the demand for healthcare for senior citizens, the report says.

*EUR 1 = PLN 4.70 (31.12.2022)