Foreign companies look to local banks to increase market access

In 2006 the Polish life market recorded its best premium income for many years. A number of international groups have interests in Polish insurers, usually for both life and non-life business. Since 2002 foreign investment has represented more than 70% of the net equity in life and non-life insurers. Some of the larger international insurers are reported to be finalising plans to convert their Polish subsidiaries into branches of companies based elsewhere in the EU

The Polish life insurance market at the end of 2006 was made up of 31 organisations, of which four had domestic capital and 26 had a majority of foreign capital: there was also one main branch of a foreign company. Apart from the two state-owed companies, most of the market is made up of joint stock insurers and the majority have foreign capital involvement.