Slovakia
SLOVAKIA sees off health insurance claim
An Austrian investor in Slovakia's health insurance market has seen the remainder of its treaty claim against the state thrown out at the jurisdictional stage.
17 June 2014SLOVAKIA: Car insurance scam revealed
THE NATIONAL criminal agency has uncovered a group of seven people who filed fraudulent claims worth EUR 775,000 with an insurance company over fictitious car accidents.
3 June 2014SLOVAK insurance sector stays the course
THE SLOVAK insurance sector saw no dramatic changes last year, while stabilisation in the eurozone was reflected in developments in Slovakia, too, which mirrored those in other countries in the region. Expectations with respect to positive developments in macro-economic indicators are optimistic. In addition, the insurance sector is preparing for Solvency II and the payment of the first pensions from the so-called second, private, old-age insurance pillar.
3 June 2014SLOVAKIA: More people buying insurance online
NEW technologies are impacting the insurance industry and several
companies in Slovakia now sell insurance policies via the internet or
mobiles - along with reporting an increased interest from clients in
these channels.
3 June 2014Dutch firm Achmea loses arbitration against SLOVAK state
THE ARBITRATION proceedings initiated by Dutch company Achmea, the owner
of the health insurer Union, against the Slovak government, which plans
to merge the three existing health insurers and introduce a unitary
state system of health insurance, ended with a victory for Slovakia.
30 May 2014SLOVAKIA FY2013: Moderate growth in GWP, with no significant changes
2013 was year stability for the Slovak insurance market, with no major changes. The market continued to increase its business volume at a slow pace, recording a 2.7% growth in GWP, to EUR 2.17 billion. However, looking at its two main segments, it is obvious that life insurance performed better, ending the year with a 5.9% growth in premiums, while on the non-life sector almost all the main business lines recorded a slightly negative trend.
8 May 2014VIG expands market leadership in SLOVAKIA
The excellent development of Vienna Insurance Group in Slovakia
continues. The Group expanded its market share to 34.5 per cent, sharply
increasing its edge over competitors, according to Vienna Insurance
Group.
25 February 2014SLOVAKIA: Private health insurers nationalization due to lack of financial resources
Slovakia's government on Wednesday suspended its plan to create a single state-owned health insurer and potentially nationalize the EU member's two private insurers, informs digitaljournal.com. According to an official release, the idea on creating a single state-owned health insurer will be put on hold until the finance ministry will be able to cover the operation's costs. At all events, the 2014 deadline can not be met.
13 February 2014Traditional life policies pushed up the Slovak market to EUR 1.56 billion
In the first nine months of 2013, the Slovak insurance market increased by 2.2% y-o-y to EUR 1.56 billion, according to the financial figures published by the National Bank of Slovakia (NBS). The value of claims paid by insurers increased by 5.5% y-o-y, to EUR 910 million.
30 January 2014Vienna Insurance Group's Slovak operations post 8.6% increase in Jan-Sep earnings
Vienna Insurance Group (VIG) said its Slovak business recorded a pre-tax profit of EUR 42.8mn for the first nine months of 2013, up 8.6% y/y. Gross written premiums of VIG's Slovak subsidiaries totalled EUR 548.3mn through September, up 6.6% y/y, with life insurance premiums jumping 11.4% to EUR 297.3mn and non-life insurance premiums rising by 1.4% y/y to EUR 251mn.
6 December 2013SLOVAKIA 1H2013: UL insurance sees first decline since 2009 and technical balance on motor lines are worrying local companies
"Steady" is apparently the word that best describes the Slovakian insurance market's evolution in the first half of 2013. With an overall GWP of EUR 1.06 billion, 1.3% up y-o-y, the market seems to produce no surprises. Still, at a closer look, there are few things worth being noted.
31 October 2013SLOVAKIA: New burden for insurance industry
The Slovak government extends special taxes for companies operating
regulated sectors. The bank tax will be abolished in the course of the
next years.
28 October 2013SLOVAKIA close to losing arbitration against Achmea
Slovakia is a step closer to paying reimbursement to the Dutch company
Achmea that owns the health insurance company Union. Last December, the
arbitration court decided that the state has to pay EUR 22 million in
reimbursement and court fees of EUR 3 million to Achmea, for the profit
ban approved during the first tenure of Prime Minister Robert Fico.
17 October 2013AXA ends banking business in SLOVAKIA
The French financial group AXA is winding down its banking business in Slovakia to focus on different financial services. In late May AXA and UniCredit Bank Slovakia signed a cooperation agreement, based on which AXA Group will focus exclusively on insurance, pension savings and mutual fund investing, while UniCredit Bank will take up the banking portfolio.
10 September 2013SLOVAKIA, 1Q2013: Insurance market increased slightly due a 6% growth on life
In the first quarter of 2013, Slovak insurance market totaled almost EUR 573 million, representing an increase of 1.7%, according to the financial figures published by the National Bank of Slovakia (NBS). The positive market trend was determined by the increase of 6% in the volume of life insurance, to EUR 286 million, this type of policies generating 49.97% of the total insurance market. The non-life insurance segment accounted for about EUR 286.5 million (or 50.03%), 2.4% less y-o-y.
8 August 2013SLOVAK insurance companies using private detectives
Slovak insurance companies rely increasingly on the services of private detectives to uncover fraudulent claims, the saily Pravda reported on Monday..
1 July 2013GENERALI Slovensko and Penzijni spolecnost CP will have the new CEOs
Roman JURAS (42) will become new Chief Executive Officer and Chairman of
the Board of Directors of GENERALI Slovensko poistovna, Bratislava, as
of 1st June, 2013.
28 May 2013SLOVAK Rep. FY2012: Premiums up 4%, profit down 20%
The 23 members of the Slovak Insurance Association (SLASPO) reported for the financial year 2012 a total volume of gross written premiums of EUR 2.1 billion. The value is 3.7% higher as compared with audited figures published by The National Bank of Slovakia (NBS) for FY2011.
9 May 2013SLOVAKIA: Insurers report higher corporate interest
Fire, flood or IT failure may bring down, or at least cause significant problems to, an otherwise financially healthy company.
8 May 2013SLOVAKIA: Fraudulent activities in insurance sector rising, say insurers
Insurers in Slovakia say that fraudulent activities are on the rise, The Slovak Spectator reported.
8 May 2013
