In the first three quarters of 2020, the Slovak Republic insurance market totaled EUR 1.68 million, 1.88% less y-o-y, according to the quarterly financial figures published by the National Bank of Slovakia (NBS).
The life insurance segment was down by 6.82% y-o-y to EUR 702.89 million, these types of policies generating 41.79% of the total insurance market, while the remaining 58.21% was accounted by non-life subclasses - GWP of EUR 979.17 million or 2% more y-o-y.
The Dutch financial group ACHMEA announced is expanding its presence on Slovak insurance market by the acquisition of POSTOVA Poistovna after its local subsidiary - UNION and the shareholders of POSTOVA Poistovna - POSTOVA Banka and SLOVENSKA POSTA - had reached agreement on the transaction.
Belgium's KBC Group and OTP Bank, the Hungarian parent company of OTP Banka Slovensko (Slovakia), closed the agreement announced in February 2020
for KBC Bank NV to acquire ownership of 99.44% of the shares in OTP Banka Slovensko.
In the first six months of 2020, the Slovak insurance market totaled EUR 1.14 billion (direct premiums and accepted reinsurance, summed-up), 1.57% less y-o-y, according to the preliminary quarterly financial figures provided by the National Bank of Slovakia (NBS).
Narodna banka Slovenska (NBS), the Slovakian national supervisory authority, has issued an interim measure banning new business from NOVIS Insurance Company, NOVIS Versicherungsgesellschaft, NOVIS Compagnia di Assicurazioni, NOVIS Poistovna a.s. (NOVIS), until specified conditions are fulfilled by NOVIS.
GENERALI announced that Georg ENGL stepped down from his positions as Chairman of the Board of Directors and CEO in GENERALI Poistovna, in Slovakia for private reasons and has left GENERALI Group to pursue other professional opportunities.
In the first three months of 2020, the Slovak insurance market totaled EUR 629 million, 3.0% more y-o-y, according to the quarterly financial figures published by the National Bank of Slovakia (NBS).
GENERALI Slovakia donated innovative UVD robots for highly-efficient disinfection of the premises to five Slovak hospitals. The germicidal robots are very helpful for the hospitals not only during the coronavirus pandemic but also in daily safeguarding the high hygienic standards needed in the health facilities.
Last year, the Slovak insurance market totaled EUR 2.28 billion, 1.65% more y-o-y, according to the end-year statistics published by the National Bank of Slovakia (NBS).
The Belgium's KBC Group and OTP Bank, the Hungarian parent company of OTP Banka Slovensko (Slovakia), reached agreement for KBC to acquire ownership of 99.44% of the shares in OTP Banka Slovensko, a mid-sized Slovakian bank focusing on retail, micro SME and SME customers. The remaining shares are held by a number of private individuals.
In the first three quarters of 2019, the Slovak insurance market totaled EUR 1.71 billion, 2.50% more y-o-y, according to the quarterly financial figures published by the National Bank of Slovakia (NBS). Life and non-life paid claims and indemnities increased by 6% to EUR 1.05 billion, of which about 46% were related to non-life sub-classes.
The Slovak market finished the first semester of 2019 with a GWP volume of EUR 1,166 million (+2.6%), paid claims and benefits amounting to EUR 697 million (+7.1%) and a net profit at market level of EUR 68 million (-21.5%). Life sector held a share of 43.2% in total GWP, while the rest of 56.2% of GWP was brought by non-life business lines.
In the first three months of 2019, the Slovak insurance market totaled EUR 610.7 million, 3.6% more y-o-y, according to the quarterly financial figures published by the National Bank of Slovakia (NBS).
GENERALI CEE Holding announces some changes in the managements of its subsidiaries CESKA pojistovna (Czech Republic), Generali Poistovna (Slovakia), and Generali osiguranje (Croatia), to become effective in the upcoming weeks and months once the necessary approvals have been received.
At the end of 2018 the Slovak insurance market totaled EUR 2.20 billion vs. EUR 2.16 billion a year before, according to the preliminary figures provided by the National Bank of Slovakia (NBS).
Dutch insurance group ACHMEA announced is expanding its presence in Slovak insurance market by acquiring AEGON's property & casualty portfolio in the country. The portfolio consists of more than 18,000 home insurance policies. The acquisition is being made by ACHMEA's subsidiary, UNION.
Italian insurer GENERALI announced signing an agreement to take over the entire life, non-life and composite insurance portfolios of three entities of ERGO International AG in Hungary and Slovakia. The sale is subject to certain regulatory and anti-trust approvals, as is customary for transactions of this kind. The parties have agreed not to provide details of the purchase price and other terms.
Youplus, a new life insurance company, will launch in the Czech and Slovak insurance markets in May 2019. Youplus will begin operation in the Czech Republic the first half of 2019 and enter the Slovak market in the second half.
Between 2008-2017, the Slovak insurance market maintained a stable evolution, reflected in an almost horizontal graphical trendline, with no major spikes or drops in GWP. Overall market GWP fluctuated between EUR 1,967-2,135 million, almost equally divided between Life and Non-Life premiums.
Starting with March 2019, AXA Group will have a new Chief Risk Officer and a new Chief Technical Insurance Officer operating inside Czech Republic and Slovakia. The changes are waiting for regulator's approvals.