STATISTICS: SLOVAK Rep., NBS: The insurance market went down by 4% in 2015

Last year, the Slovak insurance market totaled EUR 2 billion, down by 4.1% y-o-y, as the preliminary statistics published by the National Bank of Slovakia (NBS) indicated. The life insurance field decreased by 9.6% y-o-y due to the 18% depreciation of unit-linked subsegment, while the non-life GWP was up by 2.8% to EUR 965 million.

Despite the reported negative rate, in terms of GWP, the market continued to be dominated by life insurance (EUR 1.1 billion), which accounted for the 52.2% of the total premium volume. Of this total, about EUR 509 million was generated by traditional life insurance segment, while the unit-linked products generated premiums of EUR 300 million.

Non-life insurance accounted for the remaining 48% of the market, of which 26% were generated by motor insurance policies: Motor Hull (12.7%) and MTPL (13.4%).

The aggregate value of claims paid by local insurers decreased by 3% y-o-y to EUR 1.1 billion.

Access www.xprimm.com and download the preliminary FY2015 Slovak insurance market statistics published by NBS.

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

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