SLOVENIA 1Q2013: Health insurance balances the non-life segment

8 August 2013 — Daniela GHETU
slovenia-statisticsThe first quarter of 2013 confirmed the slightly downward trend installed on the Slovenian insurance market in 2012. Thus, local insurers ended the first three months of the current year with underwritings of EUR 567.6 million, 1.12% down as compared with the same period of 2012. In fact, the negative trend was driven by the continuous decreasing underwritings on the life insurance side, while on the non-life segment the overall business volume remained stable, at a comparable level with the one recorded in 1Q2012.

The Unit-linked insurance lines once again pushed the life insurance GWP figure down. With this line of business recording a 6.78% fall in GWP, the total premium written by the life insurers decreased by 4.47% y-o-y, to EUR 142.8 million.

The constant business volume on the non-life insurance side resulted due to the 13.6% growth recorded for the health insurance line which succeeded to offset the 7.17% downsize witnessed on the motor lines, as well as the negative trend recorded on most of the other non-life classes. On a highly competitive market, the continuous prices softening put the business volume under a strong strain.

Companies belonging to the TRIGLAV Group continued to maintain their leading positions both on the life and non-life segments despite the about 7% decrease in GWP volume recorded. Thus, Zavarovalnica TRIGLAV, the mother company of the Group, ended 1Q2013 with GWP of EUR 182.5 million and a market share of 32.15%, 2.3 pp less y-o-y. MARIBOR ranks second, with a premium production of EUR 80.16 million and 14.12% market share, while the third position is held by the mutual insurance company VZAJEMNA, the largest voluntary health insurance company in Slovenia, with GWP of almost EUR 76 million and a 13.4% market share.

Access and download the 1Q2013 Slovenian insurance market statistics.

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