Down by 3.24% y-o-y in terms of GWP: this is the 3Q2012 result recorded by the Slovenian insurers, members of the Slovenian Insurance Association. In absolute figures, GWP amounted to EUR 1.57 billion, with EUR 52 million less than in 3Q2011. Most of this negative difference originates in the life insurance sector, which recorded a 9.7% y-o-y decrease in underwritings, to EUR 434.8 million, while on the non-life side the 3Q2012 GWP volume only diminished by 0.5% y-o-y, to EUR 1.13 billion.A closer look to the main business lines' results shows that Unit-Linked products witnessed the most significant volume depreciation, as GWP for 3Q2012 amounted to EUR 253 million, 17.8% less y-o-y. The almost EUR 55 million decrease in the UL underwritings was only to a small extend offset by the positive evolution recorded on the other life insurance classes.
The relatively stable evolution recorded by the non-life GWP volume was achieved mainly due to the positive dynamics of the health insurance line, which fortunately compensated for the continuous decline in the damages to property and motor insurance classes. Thus, motor insurance GWP amounted to EUR 403.6 million, 5.8% less y-o-y, both Motor Hull and MTPL lines recording similar negative changes in the premium volume.
Yet, the second half of 2012 brought on the Slovenian insurance market a change that may be considered more significant than any "figures" - the Zavarovalnica MARIBOR's sale, an operation which will end with the full ownership of SAVA Re on MARIBOR and the creation of a stronger competitor for the market leader TRIGLAV. According to Zvonko IVANUSIC, CEO SAVA, , the Slovene reinsurers becomes, by purchasing MARIBOR, "the second largest insurance group in the Western Balkans".
Access www.xprimm.com and download the 3Q2012 Slovenian insurance market statistics.
Market portfolio:
- Gross written premiums
- Paid claims
- Growth rates
- Total market ranking
- Life insurance ranking
- Non-life insurance ranking
3726 views
