In the first three months of 2020, the Slovak insurance market totaled EUR 629 million, 3.0% more y-o-y, according to the quarterly financial figures published by the National Bank of Slovakia (NBS).

At the same time, the profits of local insurers amounted to EUR 31.3 million, which was a 1.7% less compared to end-March 2019 (EUR 31.8 million), as oficial statistics show. Technical result in life insurance entered the positive area (EUR 163.4 million vs. EUR-61.6 million in Q1 2019), while the same indicator calculated for the non-life insurance segment increased by almost 52% y-o-y to EUR 20.6 million.

In terms of GWP, life insurance LoB was up by 0.3% y-o-y to EUR 248 million, these types of policies generating ~40% of the total insurance market, while the non-life classes accounted for EUR 381 million (or~ 60% of total GWP), or about 5% more y-o-y.
Access xprimm.com and download the 1Q2020 Slovak insurance market statistics.

• Slovakia 1Q2020 Market Portfolio