STATISTICS: SLOVAKIA: No substantial discontinuities during the first six months of 2014

16 October 2014 — Daniela GHETU
The Slovak market recorded once again a growth rate of about 2% in GWP, to EUR 1.13 billion. The positive trend was visible both on the life and non-life segments.

"There are ongoing the main trends in the Slovak market, with no substantial discontinuities during the first six months of 2014. It is still noteworthy that the market finally overcame stagnation and decline from previous years in the non-life insurance premiums (growth 2.5% compared the first half years 2014/2013)", commented for XPRIMM Ivan PODSTUPKA, Policy Advisor of Communications & PR, SLASPO.

ALLIANZ - Slovenska poistovna leads the market with a 27.3% share, followed by KOOPERATIVA poistovna VIG (23.6%) and GENERALI Slovensko poistovna (8.13%). On the life segment, ALLIANZ managed to get the first place in the market ranking, following a 6.5% growth in its business volume which allowed it to increase its market share by 1pp, to 21.1%. The VIG subsidiary KOOPERATIVA poistovna and the American MetLife Amslico lost each almost 1pp of its market weight, currently ranking second and third. The non-life Top 3 remained unchanged as compared qith 1H2013, replicating the total market ranking.

Growing at a higher pace than on an average market, especially on the life insurance segment, ALLIANZ Slovenska poistovna consolidated its leading position, ranking first on both segments. On the life insurance segment it had the best dynamic among the Top 5 companies, of ~6.5% y-o-y, as compared with the 1.6% market average. In fact, the Slovak subsidiary of ALLIANZ proved to be the most profitable business of the German Group in the CEE region, with an operational profit of EUR 30 million for the P&C business (best in CEE) and EUR 16 million for the life/health business (second best in CEE).

The first half of 2014 went well also for the second ranked KOOPERATIVA poistovna, member of Vienna Insurance Group. The Slovakian companies of the Austrian group increased their premiums written by 3.3% to EUR 387.3 million. Thus, premiums written for property and casualty insurance rose by 2.1% to EUR 182.3 million.

Access and download the 1H2014 Slovak insurance market statistics provided by SLASPO.

Market portfolio:
  • Gross written premiums
  • Claims
  • Growth rates
Market rankings (GWP/Market shares/Growth rates):
  • Total market ranking
  • Life insurance ranking
  • Unit-linked insurance ranking
  • Non-life insurance ranking
  • Motor hull insurance ranking
  • MTPL insurance ranking

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