Slovak insurance market grew by 2.8% y-o-y in 3Q2011 in terms of gross written premiums, the Slovak Insurance Association (SLASPO) reported. During the analyzed period, 24 SLASPO members operated in the profile market. These companies showed a total insurance premium of EUR 1.6 billion. Growth was fuelled mainly by the general insurance segment, which was up by 3.1%, compared to September, 30th, 2010, to more than EUR 746 million. Premiums revenue from life insurance segment grew by 2.6% to EUR 849 million, equivalent to 53.2% of total market.
In the first nine months of last year, three major insurance groups have held 70% market share of the total market: VIENNA INSURANCE Group, ALLIANZ and GENERALI.
The VIENNA INSURANCE Group companies (KOOPERATIVA poistovna, KOMUNALNA and Poistovna SLOVENSKEJ sporitelne) achieved in the first three quarters of 2011 a market share of 31.9% and thus consolidated their position as the number 1 in the Slovak insurance market.
ALLIANZ was the second largest group in the insurance market, the insurance company ALLIANZ - Slovenska poistovna obtaining a market share of 29.1%. Analyzing only the activity of insurance companies, ALLIANZ - Slovenska poistovna was the market leader, before KOOPERATIVA poistovna VIG.
Created in 2008 by a merger of CESKA poistovna - Slovensko and GENERALI Poistovna, GENERALI Slovensko was the third insurer in Slovakia, with overall market share in premiums written of 9.1%.
Access www.xprimm.com and download the Slovak insurance market statistics.
Market portfolio:
- Gross written premiums
- Growth rates
- Total market ranking
- Life insurance ranking
- Unit-linked insurance ranking
- Non-life insurance ranking
- Motor hull insurance ranking
- MTPL insurance ranking
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