STATISTICS: SLOVAKIA, 3Q2018: insurers' profits decreased to EUR 120 million

In the first three quarters of 2018, the Slovak insurance market totaled EUR 1.67 billion, thus increasing by 3.82% y-o-y, according to the quarterly financial figures published by the National Bank of Slovakia (NBS).

In GWP terms, the life insurance segment decreased 4.49% y-o-y to EUR 739.49 million, this type of policies generating 44.22% of the total insurance market, while the non-life classes accounted for EUR 932.90 million (or 55.78% of total GWP), or 11.52% more y-o-y.

At the same time, the profits of local insurers amounted to EUR 120.08 million at the end of September 2018, which was a 11.5% less compared to September 2017 (EUR 135.70 million).

Other indicators of the Slovak insurance market at September 30th, 2018 vs. September 30th, 2017:

  • Life indemnities: EUR 555.80 million vs. EUR 506.38 million
  • Non-life claims: EUR 436.46 million vs. EUR 386.62 million
  • Technical result in life insurance: EUR 37.37 million vs. EUR -22.99 million
  • Technical result in non-life insurance: EUR 24.88 million vs. EUR 41.18 million
  • Premium ceded to reinsurers (life): EUR 23.74 million vs. EUR 21.84 million
  • Premium ceded to reinsurers (non-life): EUR 220.05 million vs. EUR 224.18 million
  • Non-life loss ratio (net): 49.6% (MTPL - 62.2%, MoD - 64.9%)
  • Non-life expense ratio (net): 39.8% (MTPL - 39.8%, MoD - 34.7%)
Access and download the 3Q2018 Slovak insurance market statistics.

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