The volume of insurance companies' operations, expressed in underwritings, decreased by 3.7% (or by EUR 42.51 million in absolute value) compared to 1H2011, but, according to SIA, the figures can be affected due two significant changes to the members' status: KAD left SIA, while MODRA joined the Association.
In 1H2012 the underwritings decreased both in the non-life insurance and in the life insurance. Compared to January-June 2011, gross written premiums decreased by 0.74% in the non-life segment and by 11.11% in life insurance.
The comparison of GWP collected by non-life insurance classes shows that 82.4% of non-life insurance premiums were collected in only five insurance classes. These are: MTPL (19.2%), motor hull (17.4%), other damages to property insurance (9.6%), fire and natural forces insurance (8.5%), and health insurance (27.8%).
On the life insurance segment there was a slight increase in the shares of the insurance classes of traditional life insurance (by 4.3%). At the same time, unit-linked GWP decreased by 18.2% as compared to the previous year, representing 58% of the total life segment.
Market share changes of the insurance companies in recent years reveal only slight changes. On non-life, it even declined by 6.65% in terms of premiums. The market leader was TRIGLAV Insurance Company (34.24% market share). The second and the third places are taken by VZAJEMNA (16.32%) and ADRIATIC SLOVENICA (16.09%). The combined market share of the TOP 3 was 66.65%, which was 1.55% less than the previous year.
Like in non-life insurance, the largest market share in life insurance also belonged to TRIGLAV Insurance Company, recording a share of 30.55%. The second place was taken by MODRA with a share of 16.34%, surpassing MARIBOR which occupied the third place with 13.19%. Top 3 accounted for 63.08% of the life insurance market.
Access www.xprimm.com and download the 1H2012 Slovenian insurance market statistics.
- Gross written premiums
- Paid claims
- Growth rates
- Total market ranking
- Life insurance ranking
- Non-life insurance ranking