STATISTICS: SLOVAK Rep., FY2016: apparently stagnating business

According to the Slovak Insurance Association data, the Slovak insurers ended 2016 with GWP of EUR 1,987 million, a result which is more or less in line with the previous year's premium production.

Life insurance GWP went down by about 7%, mostly because of the business reduction on the single premium segment, according some market sources. Non-life insurance lines saw a 4.3% increase in GWP, with several players mentioning motor insurance as the main driver. Yet, as at this time very few official data are available, one should consider these data as only informatory.

Although official data concerning the market rankings are not available, we have gathered some information from the annual reports published by the market players. Overall, the market hierarchy seems to be quite similar to the last official rankings available, for the year 2014.

Thus, according to the VIENNA Insurance Group report for 2016, the three insurers representing the Austrian group in Slovakia - Kooperativa, Komunalna and PSLSP -, together account for a 32.9% market share.

The GENERALI subsidiary is holding, according to the Group's statement, for a 7.5% share of the life insurance business, and a 11.5% of the P&C market.

In 2015, according to XPRIMM calculations, the ALLIANZ subsidiaries had a market share of 34.8% on the P&C segment and 23.4% on the life insurance market.

Find more 2016 market information in the forthcoming edition of the XPRIMM Insurance Report CEE, SEE & CIS - FY2016, to be launched on 22 May.

Access www.xprimm.com and download the FY2016 Slovak insurance market statistics.

Follow XPRIMM Publications on LinkedIn, for more data on the insurance and financial industry.

Share |

Related articles

ON THE MOVE

IGI appoints its first Chief Technology Officer

International General Insurance Holdings Limited (IGI), the international specialist commercial insurer and reinsurer, has announced the appointment of Nasser ZAGHA to the newly-created role of Chief Technology Officer.

15.11.2018

TOP EVENT

Reducing the risks in agriculture by using insurance means, discussed in Skopje

On November 1st, an Agricultural insurance conference took place in Skopje, Macedonia, organized by the Insurance Supervision Agency in cooperation with the Ministry of Agriculture, Forestry and Water Economy. Drawing attention to the necessity of reducing the risks in agriculture by using insurance was the event's main purpose.

06.11.2018

IIF 2018 - Insurance in a DIGITAL WORLD

Emmanuel DJENGUE, Innovation Director, Europe - RGAX, Spain is the Keynote Speaker at IIF 2018 - Insurance in a DIGITAL WORLD Conference in Bucharest, on November 27.

05.11.2018

See all