STATISTICS: SLOVENIA 1Q2018: positive trend in underwriting and new entries in the top segment of the market

Slovenian insurers ended 1Q2018 with total GWP worth EUR 643 million, 5.85% up y-o-y. On the paid claims side, the total market expenses wet up by 10.2%, to EUR 411.7 million, driven by the higher compensations paid for Motor Hull and property insurance.

In fact, the market saw a balanced evolution on most classes. In absolute terms, the highest contributions to the market growth were provided by the UL products segment on the life insurance side (almost EUR 12 million) to which goes almost all the credit, while on the non-life side most of the market growth came from health insurance, the damages to property line and both motor insurance lines.

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 28.8% market share; Zavarovalnica SAVA, also parent company of an important Group, SAVA Re, follows with a 18.7% market share, while ADRIATIC SLOVENICA ranks third, with 12.7% of the total GWP.

The most relevant events came on the Slovenian market in the first months of 2018 rather on the market's structure side. While the acquisition of ADRIATIC SLOVENICA by GENERALI was just announced, the Insurance Supervision Agency's decision to deny the Croatian holding ADRIS Grupa to increase its stake in SAVA Re to more than 20% was again put under debate when the Slovenian Administrative Court annulled it in March, thus opening the gates to new possibilities. The competition in the market remains tough. Yet, it seems that there is still enough place for new initiatives, as the start-up InsurePal, a distributed social proof insurance platform was launched in January and raised impressive funds for the development of an insurance platform based on blockchain technology and social proofing.

Access www.xprimm.com and download the .........................................................

Market portfolio:

  • Gross written premiums
  • Claims
  • Growth rates
    Market rankings (Life and non-life insurance):
  • Gross written premiums
  • Market shares
  • Growth rates




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

Share |

Related articles

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

STATISTICS: SLOVENIA, FY2017: life insurance and Motor Hull, the market drivers

Slovenian insurers ended 2017 with GWP of EUR 2.18 billion, 5.5% up y-o-y, mostly capitalizing from the life insurance segment's revitalization. Thus, after a weak 2016, when the life insurance business followed a descending path, in 2017 the almost 10% growth of the Unit-Linked insurance products line gave the segment the needed stimulus to re-enter on a positive trend.

2018-05-03

ON THE MOVE

AIG Life Limited (UK) announces the appointment of a new CEO

AIG Life Limited (UK) announced the appointment of Philip WILLCOCK - the former CEO of AVIVA's Indonesian and Italian ventures - as CEO, subject to regulatory approval, effective March 1, 2019. He will be based in London and will report to Adam WINSLOW, CEO, International, Life & Retirement.

13.12.2018

Sylva de FLUITER takes over as head of UNIQA Re AG

Sylva de FLUITER will take over as head of UNIQA Re AG in Zurich as of 1 January 2019, the Austrian group announced. Until year end she will work hand in hand with long-time Managing Director Hans Uwe MULLER, who will retire after 14 years at UNIQA Re.

12.12.2018

MERCER to name Bala VISWANATHAN Chief Operating Officer

MERCER, the consulting subsidiary of MMC - Marsh & McLennan Companies, announced that Bala VISWANATHAN, CEO of Jardine Lloyd Thompson Group plc (JLT) UK & Ireland Employee Benefits, will join MERCER as Chief Operating Officer.

12.12.2018

TOP EVENT

Reducing the risks in agriculture by using insurance means, discussed in Skopje

On November 1st, an Agricultural insurance conference took place in Skopje, Macedonia, organized by the Insurance Supervision Agency in cooperation with the Ministry of Agriculture, Forestry and Water Economy. Drawing attention to the necessity of reducing the risks in agriculture by using insurance was the event's main purpose.

06.11.2018

IIF 2018 - Insurance in a DIGITAL WORLD

Emmanuel DJENGUE, Innovation Director, Europe - RGAX, Spain is the Keynote Speaker at IIF 2018 - Insurance in a DIGITAL WORLD Conference in Bucharest, on November 27.

05.11.2018

See all