STATISTICS: SLOVENIA, 1H2018: extreme weather events' bill pushed up the market's claims expenses by 6.7%

The Slovenian insurance market saw a 6% y-o-y growth in GWP in 1H2018, to EUR 1.24 billion. The non-life insurance segment had the largest contribution to the market growth, but also to the 6.7% growth recorded on the paid claims side.

Life insurance recorded an above average GWP growth rate, of 8%, to EUR 355.8 million, mostly driven by the very good dynamic of the Unit-Linked products class.

On the non-life side, motor insurance classes - especially the Motor Hull line -, and the health insurance class saw the best growth rates (7.26% and 6.63% respectively). The same lines have also contributed the most to the paid claims growth. In addition, the property insurance classes had also made a significant contribution to the increasing claims expenses of the Slovenian insurers. Several extreme weather episodes occurred in the end of 2017 and first half of 2018, including the severe storm onf 8 June, are responsible for most of the paid claims increase.

The Top 3 ranking remained the same as in the previous periods: Zavarovalnica TRIGLAV, the parent company of the TRIGLAV Group leads the market, with a 28.3% market share; Zavarovalnica SAVA, also parent company of an important Group, SAVA Re, follows with a 18% market share, while ADRIATIC SLOVENICA - recently bought by the Italian group Generali, ranks third, with 12.84% of the total GWP.

Find detailed 1H2018 market data in the forthcoming edition of the XPRIMM Insurance Report CEE, SEE & CIS - 1H2018, to be launched on 21 October, in Baden Baden.

Access www.xprimm.com and download the 1H Slovenian market ranking statistics.

Market portfolio:

  • Gross written premiums
  • Paid claims
  • Growth rates
Market rankings (GWP/ Market shares/Growth rates):

  • Total market ranking
  • Life insurance ranking
  • Non-life insurance ranking

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

Share |

Related articles

STATISTICS: SLOVENIA timeline 2008 - 2017: steady and smooth transition year over year

The Slovenian insurance market maintained steady between 2008-2017, the difference from the first year to the last one being summed up in a small growth, in both written premiums and paid indemnities. In this period, the Slovenian insurance sector kept a smooth transition year over year, with no sudden changes in any of the main business lines, reflecting a good stability and steadiness.

2019-01-09

Adriatic Slovenica's takeover by Generali greenlighted by the EC

The European Commission has greenlighted the takeover of insurer Adriatic Slovenia by Generali CEE, an affiliate of Italy's Generali Group, the world's third largest insurer, STA reports. According to the Commission, the deal does not affect the competition on the relevant markets.

2018-12-13

TRIGLAV to become the sole owner of Skupna pokojninska druzba's

Zavarovalnica TRIGLAV, the parent company of the TRIGLAV Group announced it signed an agreement with Nova Ljubljanska banka - NLB - to purchase the remaining 28.1% equity stake of pension insurer Skupna pokojninska druzba, thereby becoming its 100% owner.

2018-09-18

ON THE MOVE

Peter CLARKE named VP & COO of FAIRFAX

FAIRFAX Financial Holdings Limited announced that Peter CLARKE has been appointed Vice President (VP) and Chief Operating Officer (COO) of FAIRFAX, reporting to FAIRFAX President, Paul RIVETT.

12.02.2019

ERGO Group appoints a Polish manager

Adam ROMAN, board member of Ergo Hestia (Poland), will hold the position of Head of Global P&C of the ERGO group, effective 1 March. His tasks will include supervision over property insurance of the group in the areas of underwriting, actuarial and pricing, as well as reinsurance.

07.02.2019

TOP EVENT

Inclusive Insurance - a creative solution to narrow the protection gap in the emerging markets of the Southeastern Europe

Insurance should be accessible to all social classes, regardless of their wealth & income status. Products offered today are conventional insurance products, largely inspired from the developed markets as "one-size-fits-all" solutions, affordable to only middle- and high-income clients in the Eastern Europe's emerging & developing markets. Inclusive insurance's goal is making insurance available to all, with responsible insurance offers, thus making up for a solution to narrow the insurance coverage gap in the region.

14.02.2019

Latest trends and challenges in the property and motor insurance lines under scrutiny, in Vienna

Property and motor insurance lines are providing for about 75% of the non-life insurance business in the CEE region, but are responsible for over 77% of the claims expenses. As such, although other classes of risks are emerging, for the time being and most probably for a rather long period ahead, property and motor insurance lines will continue to be at the heart of CEE's insurance market architecture.

14.02.2019

FIAR 2019: Register before 28 February and save EUR 400 of the attendance fee

To the satisfaction of its traditional guests, FIAR returns in 2019 to its historical hometown, Sinaia. The forthcoming edition will benefit from the comfort and professional facilities of a new venue, the Conference Center of the International Hotel ****, located in the heart of the beautiful mountain resort. Registration is opened at a significantly discounted early bird rate until 28 February.

10.01.2019

See all