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.