STATISTICS: Subunit increase for the Slovak insurance market in 1H2023, NBS data shows

27 September 2023 — Andrei VICTOR
STATISTICS: Subunit increase for the Slovak insurance market in 1H2023, NBS data shows

According to the 1H2023 figures published by the National Bank of Slovakia, the insurance market totaled at the end of June EUR 983.5 million (up by 0.9% y-o-y), while gross claims paid by insurers were about ~EUR 459 million (down by 19% y-o-y).

Life insurers’ GWP decreased by 6.6% to EUR 366.4 million due to the 36.9% negative rate reported by the Index-linked and unit-linked products, while non-life subclasses totaled EUR 617 million, up by 5.9% y-o-y.

According to the quarterly market data published by SLASPO (Slovak Insurance Association), the January-June 2023 business from the members of the association totaled EUR 1.37 billion, up by ~4.6% y-o-y, of which life GWP ~EUR 523 million, the remaining ~EUR 849 million being accounted by the non-life business lines.

In terms of GWP, according SLASPO statistics, the largest life insurers in the country were KOOPERATIVA VIG (EUR 159.4 million), Allianz-Slovenska (EUR 92.9 million), Generali Poistovna (EUR 61.7 million).

In non-life, the Top 3 companies in terms of premiums were the same three market players: Allianz-Slovenska (EUR 246.3 million), KOOPERATIVA VIG (EUR 186.3 million) and Generali Poistovna (EUR 117 million).

Access xprimm.com and download the 1H2023 Slovak insurance market statistics released by SLASPO & NBS.
 

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