STATISTICS: Slovene market ended Q1 “in red” due to huge decrease in health

8 July 2024 — Andrei VICTOR
STATISTICS: Slovene market ended Q1 “in red” due to huge decrease in health

The Slovenian insurance market totaled EUR 746.2 million at the end of March 2024, an 9.6% decrease y-o-y, according to the Slovenian Insurance Association's quarterly figures. Life insurance GWP posted a positive double-digit rate of +10.1% y-o-y to EUR 217.4 million, while the general insurance segment decreased by -15.8% y-o-y to EUR 529 million (or 70.8% of total GWP) due to the over 90% decrease in health insurance, from EUR 175 million in Q1 2023 to ~EUR 15 million at the end of March 2024.

In terms of paid claims, the aggregate value was EUR 450.9 million (from EUR 506 million a year ago), of which about EUR 160 million - life indemnities, ~EUR 422 million - payments related to health insurance contracts, EUR 145million - motor classes payments (MTPL and MoD, summed), and about EUR 65 million - property claims.

Slovenia's largest insurers in terms of GWP were Zavarovalnica TRIGLAV with a 36.4% market share (EUR 271.8million), followed by Zavarovalnica Sava (24.22% market share, EUR 180.8 million) and GENERALI zavarovalnica (14.7% market share, EUR 109.5 million).

Access xprimm.com and download Q12024 Slovenian insurance market statistics.
 

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