According to the year-end preliminary statistics published by SLASPO (Slovak Insurance Association), the FY 2021 GWP from the members of the association totaled EUR 2.48 billion, up by 2.44% y-o-y. Premiums written in life insurance decreased by 0.8% y-o-y to EUR 1.05 billion, while non-life segment was up by 4.9% y-o-y to EUR 1.43 billion.

SLASPO's market data revealed that in case of both main market segments, the GWP volume decreased for domestic insurers, while in case on EU branches the business volume posted positive rates.

Thus, in case of life segment, the GWP of domestic insurers was down by 3.7% y-o-y to EUR 857 million, while for the EU branches it increased by 14.3% y-o-y to EUR 194 million. For non-life segment local insurers posted a 3.9% negative rate to EUR 1.24 billion, while the non-life GWP related to EU branches increased by 140% to EUR 202 million.

In terms of GWP, the largest life insurers in the country were KOOPERATIVA VIG (EUR 313.89 million), Allianz-Slovenska (EUR 197.44 million) and Generali Poistovna (EUR 119.19 million), while the Top 3 in non-life insurance was formed by Allianz-Slovenska (EUR 456.98 million), KOOPERATIVA VIG (EUR 309.28 million) and Generali Poistovna (EUR 182.31 million).

Access xprimm.com and download the FY2021 Slovak insurance market statistics released by SLASPO.