Electronic Journal of Polish Agricultural Universities (EJPAU) founded by all Polish Agriculture Universities presents original papers and review articles relevant to all aspects of agricultural sciences. It is target for persons working both in science and industry,regulatory agencies or teaching in agricultural sector. Covered by IFIS Publishing (Food Science and Technology Abstracts), ELSEVIER Science - Food Science and Technology Program, CAS USA (Chemical Abstracts), CABI Publishing UK and ALPSP (Association of Learned and Professional Society Publisher - full membership). Presented in the Master List of Thomson ISI.

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Ortyński K. 2019. PRODUCT DIVERSIFICATION AND FIRM PERFORMANCE IN POLISH NON-LIFE INSURANCE SECTOR
DOI:10.30825/5.ejpau.177.2019.22.3 , EJPAU 22(3), #02.
Available Online: http://www.ejpau.media.pl/volume22/issue3/abs-02.html

ABSTRACT

The article discusses the key characteristics of the non-life insurance market and the impact of selected product strategies on the financial results of the group of 7 leading insurance companies in Poland in 2012–2017. The main objective of the study is to consider the choice of an insurance strategy from the point of view of the financial results of insurance companies.  The article attempts to verify empirically which strategy, i.e. diversification or product specialization, was more effective for the group of 7 leading insurers on the Polish non-life insurance market in 2012–2017.  The study showed that the product diversification strategy implemented in the group of 7 leading insurers was statistically positively correlated with the insurers' profitability rates in the non-life insurance sector.  The product specialization in this group was negatively significantly correlated with the profitability rates. In addition, the study showed that the variables representing firm size and investment income positively and statistically significantly affect the performance of non-life insurers in Poland.

Key words: insurance, diversification, performance, insurance companies, specialization JEL Classifications: G22, L25, O50.

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Kazimierz Ortyński
Faculty of Economic and Legal Sciences, Kazimierz Pulaski University of Technology and Humanities in Radom, Poland
31 Chrobrego Str.
Radom, 26-600
Poland
email: kortynski@gmail.com

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