Poland was the only European country not to experience a recession in 2009, and despite a drop in inward investment, Poland should soon again be attracting high levels of Foreign Direct Investment (FDI); in 2011 over €13.6bn came into the country, falling to less than €5bn in 2012 spread across less than 30 projects, with a strong interest in renewable energy. FDI in 2013 is expected to be €11.2bn and higher again in 2014. Poland has been, and will continue to be, the largest CEE market within the EU and continues to have the strongest economy.
MAI has been very active in Poland, working with both local and incoming clients, often winning business against established local competitors because of our expertise, reach and quality of service.
In the last year alone, MAI Poland has been involved in arranging PI cover for a number of renewable energy developers, and arranging construction insurance for Poland’s largest wind farm.
Strong financial services
The financial services sector in Poland continues to grow, particularly among financial services such as leasing and hire purchase. We are seeing an increasing demand for credit risk insurance, as well as for higher limits on PI cover.
To satisfy these needs we are developing new products in association with specialists, and have worked with selected partner brokers in international markets while at the same time boosting our own internal resources to widen our services and client offerings.
2013 and beyond
Poland’s hosting of the UEFA cup in 2012 further focused the world’s eyes on this vibrant economy, and is expected to generate even more opportunities for growth and investment: the number of factories under construction in Poland is due to grow by over 25% in 2013, leading to a projected surge in manufacturing in 2014. Poland’s new network of international motorways is also helping to attract business to the country. Polish companies are also expanding from Poland: expanding not only into other CEE countries, but also westward into Germany and beyond. MAI Poland has already experienced significant success in assisting these companies with their expansion and external investments.
MAI is well positioned to answer these opportunities with a major investment programme in both resources and systems designed to broaden our scope and ensure the best levels of client service.