STATISTICS: Slovak Rep., 1H2018: consolidated net profit EUR 86 million, down 4% y-o-y

Slovak insurers have reported GWP worth EUR 1.13 billion in 1H2018, 4.46% up y-o-y. At the same time, claims paid have increased by almost 13% y-o-y, to EUR 649.2 million.

In profitability terms, as Julia CILLIKOVA, Member of the Board of Supervisors and Management Board of the National Bank of Slovakia, Director Regulatory and Risk Management Methodology Department told XPRIMM, "the gain of insurance companies decreased in the first half of 2018 by 4% comparing to the same period in 2017; net profit reached EUR 86 million. Annualized ROA slightly increased to 2,49% while the SCR ratio which was at the same level (201%) as at the end of the year 2017."

Life insurance saw an almost EUR 17 million decline in GWP (-3.28% y-o-y), while on the non-life side the GWP volume increased by 11,6%, to EUR 617.3 million. In absolute terms, half of the non-life premiums growth was provided by the motor insurance lines. On the other hand, "the combined ratio slightly worsened and reached 101,7% due to increased losses," said CILLIKOVA commenting on the motor insurance evolution in the first half of the year.

Although except for some sudden stormy rains causing floods at the beginning and during the summer Slovakia was not affected by any extreme weather events, claims paid for property insurance increased by 63.8%, to EUR 39 million, while GWP went up by only 2.33%, to EUR 140.7 million.

Access and download the 1H2018 Slovak insurance market statistics

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

Share |

Related articles


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.


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.


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.



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.


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.


See all