Insurer PZU Zycie falls below 50% of market share

For the first time in its history, the market share of leading life insurance company PZU Zycie has dropped below the 50% mark. The company is still the market leader and will not be defeated by its competitors any time soon, but it is significant that it has dropped under the psychologically symbolic line. PZU Zycie currently controls 49.3% of the market - almost 2% less than at the end of 2001. "The fact that PZU Zycie is losing ground may be because other insurance companies are growing faster than expected," said Ewa Wanat-Polec from the Insurance and Pension Funds Supervisory Board. (KNUiFE). The breakdown of the market has negatively affected mostly large companies which have lost their ability to effectively fight against smaller companies for customers. The market share of Commercial Union Polska - the insurance market's second player - has also decreased, to 17.84%. ING Nationale Nederlanden, previously in third position, has dropped to fourth to change places with Amplico Life, which currently controls 11.05% of the market. "Amplico Life and Nationale Nederlanden swap places almost every quarter and honestly there is only a minimal difference between the two," said Ewa Wanat-Polec. (Prawo i Gospodarka, pp. 1, 4) M.M.