STATISTICS: SLOVAK Rep.: Life segment down by 8.4% y-o-y in 3Q influencing the aggregate values

The Slovak insurance decreased 3.6% y-o-y during January-September 2015 to EUR 1.53 billion, according to the financial figures published by the National Bank (NBS). In the analyzed period, life insurance decreased by 8.4%, to EUR 798 million, while the non-life insurance segment was up by 2.3%, to EUR 740 million.

In life insurance, the unit-linked products decreased by 19% (to EUR 223 million), while the traditional insurance products totaled EUR 396 million (down by 5.4% y-o-y).

In non-life insurance, the sub-classes with the largest share were the two motor lines: motor hull (GWP of EUR 191 million, up by 2.1% y-o-y) and Motor TPL (EUR 202 million, +1.3% y-o-y).

During January-September 2015, the Slovak insurers paid claims of about EUR 855 million (vs. EUR 882 million in 3Q2014). Of total, EUR 497 million were life indemnities, while on non-life segment, the largest values were reported on motor hull (EUR 140 million) and MTPL (EUR 120 million).

In 3Q2015, Slovak insurers issued 9,043,676 life insurance contracts and 8,455,727 policies related to non-life sub-classes. At the same time, there were reported 347,181 - life and 304,244 - non-life claims.

Access www.xprimm.com and download the preliminary 3Q2015 Slovak insurance market statistics.

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

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