Bulgarian insurer Euroins is considering opening branch in Poland

"Over the next two years, Euroins’ key business goals in the Polish market will be focused on sustainable growth, operational strengthening, and market differentiation. Our priorities are aligned with our long-term vision to build a resilient and innovative presence in Central and Eastern Europe," said Kremena Pateva, member of the management board and executive director of Euroins Insurance Group.

These priorities are in line with the Group's long-term strategy of building a stable and innovative presence in Central and Eastern Europe.

"Euroins currently operates in Poland under the freedom of services (FoS) regime, but as part of our long-term strategic commitment to the market, we are evaluating the most effective and sustainable operating model for future development," Pateva said.

"We are committed to developing flexible, transparent, and user-friendly insurance products tailored to evolving customer expectations. Enhancing post-sale engagement, simplifying policy terms, and offering value-added services such as mobile claim reporting or roadside assistance are central to this approach," she added.

According to Pateva, price competition in the Polish MTPL and comprehensive insurance segments is very strong and among the most intense in the entire Central and Eastern European region.

"There is a tendency for all EE insurance markets, including the Polish one, to be characterized by a high level of consumer price sensitivity, rising costs for claims and a strong presence of both local and international insurers, which drives aggressive pricing strategies, particularly in the compulsory MTPL segment and growing customer expectations," she said.

In Pateva's view Poland, compared to other CEE markets, tends to see more frequent price adjustments and narrower technical margins, putting additional pressure on underwriting profitability and requiring optimized processes and flexible business and operating models.

"On the other hand, for years now, Poland's status has been that of a developed economy rather than a developing one. The country is in no way inferior to a developed Western European economy. From this point of view, the Polish insurance market is highly developed, probably the most developed one in CEE with robust regulatory oversight and a strong focus on digitalization and customer service,” she said.

Euroins currently operates in Poland under the freedom of services (FoS) model.

"Our intention is to strengthen our local presence, and we are actively considering the establishment of a local branch in Poland. This would allow us to deepen relationships with clients and partners, better respond to market needs, and demonstrate our long-term commitment to the local market," she said.

"Poland plays a key and increasingly important role in Euroins’ long-term development plans. As one of the largest and most dynamic insurance markets in Central and Eastern Europe, Poland provides us with significant growth potential, both in terms of market size and the maturity of its regulatory and consumer environment,” she added.

As stated, Euroins aims to expand its market share in Poland through strategic investments in technology, customer service, and distribution partnerships, while maintaining a disciplined, sustainable approach to underwriting.

"We plan to further develop new products and services that respond to evolving customer needs, for instance, providing the young, tech-savvy users with simplified, digital insurance solutions. We also plan to deepen and strengthen our partnerships and collaborations in affinity and bancassurance channels, which will allow us to reach new customer segments with specialized insurance products," she added.

Euroins is analysing opportunities for portfolio growth in areas other than motor insurance, in particular property, accident, health and travel insurance.

Euroins is an insurance group based in Sofia, Bulgaria, operating in Central and Eastern Europe and South-Eastern Europe.

The company is part of Eurohold Bulgaria AD, an investment holding company listed on the Sofia Stock Exchange (BSE) and the Warsaw Stock Exchange (WSE), operating in the insurance and energy sectors.

Euroins operates in more than 10 EU and neighbouring countries and serves over 4 million customers.

han/ pr/ nl/