Private health insurance increasingly popular in Poland; PZU prepared to invest PLN 800 million until 2020 in its health insurance business development

Interest in private healthcare in Poland is increasing, with the number of people holding health insurance coverage amounting in 2014 to. 1.2 million, compared to 850 thousand a year earlier. Customers have paid for health insurance PLN 400.9 million (~EUR 94 million), up 19% y-o-y. The most popular are still group insurance, as the Polish Chamber of Insurers (PIU) has recently stated.

Public health system is inefficient, and this translates into a growing interest in private health insurance both from customers and insurance companies - said Jan Grzegorz PRADZYNSKI, PIU President.

While insurers are offering diversified health insurance coverage, the 2014 results suggest that Poles are increasingly willing to buy an individual health insurance policy, if the price is matched to their capabilities, while the range suits their needs. The number of people who independently decided to purchase insurance went up five times as compared with 2013, to about 173.7 thousand. However, the largest part of the people owning health insurance, i.e. 1.03 million, have got the coverage through a group policy offered by their employer, while for this segment premiums went up by about 21%, to PLN 332 million.

The leading Polish insurer PZU reported PLN 181 million revenues from its health insurance business, estimating for the following 5 years a significant growth in this area, up to over PLN 650 million in 2020.

According to data released by the PZU Group, PZU Health [PZU Zdrowie] will roll-out a nationwide network of proprietary standardized branches in connection with a network of partnership services. At the same time, the PZU Group is considering investments in a hospital network and possibly in care facilities. Thus, in the next 5 years, until 2020, the PZU Group will designate PLN 800 million to develop its health business, of which PLN 450 million for acquisitions. PZU already made the first steps by becoming a strategic investor in the ORLEN Medica, PROF-MED and ELVITA Jaworzno health services providers and is currently completing the acquisition of REZO-MEDICA.

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