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