Slovenia

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Location map
author: OCHA/ ReliefWeb


Location:
- Central Europe, eastern Alps bordering the Adriatic Sea;
- Neighbours: Italy, Austria, Hungary, Croatia.

Climate:
- Mediterranean climate on the coast, continental climate with mild to hot summers and cold winters in the plateaus and valleys to the east.

Natural hazards:
- flooding;
- earthquakes.

Macro indicators
* 2018 estimates
Surface:20,273km2
Population*:2.1million
Pop. density*:102.1people/km2
GDP*:45.9EUR billion
GDP/capita*:22,205.2EUR

European Union:
EU member, since 2004

Currency: Euro
Code: EUR
Since: 2007


Insurance market portfolio
* 2018 estimates
TOTAL LIFE*:31%
TOTAL NON-LIFE*:69%
Overall Property*:12%
Overall Motor*:23%


Sources:





 


Statistics

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Slovenia 1Q2020 Insurance Companies Rankings

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Slovenia 1Q2020 Market Portfolio


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Latest news


SLOVENIA: Insurance tax up in 2015 by 2pp

The Slovenian Finance Ministry has published a proposal for changes to the acts on the financial services tax and the insurance contracts tax, providing for a raise for both taxes from 6.5% to 8.5%, Slovenian Times reports. The higher rates are to enter into force with the start of 2015.


SLOVENIA: A.M. Best Affirms the Ratings of Pozavarovalnica SAVA

A.M. Best has affirmed the financial strength rating of A- (Excellent) and the issuer credit rating of "a-" of Pozavarovalnica Sava d.d. (Sava Re) (Slovenia), the operating holding company of the Sava Re group. The outlook for both ratings is stable. The ratings of Sava Re reflect its strong consolidated risk-adjusted capitalisation, good operating performance and strengthened business profile in the Slovenian insurance market. A partly offsetting rating factor is Sava Re's exposure to the challenging operating market conditions in Slovenia.


SLOVENIA 1Q2014: The downward trend continues

Slovenian insurers ended the first quarter of 2014 with GWP of EUR 558 million, 2.5% less than in the same period of 2013. Thus, the downward trend established last year continued. Paid claims also decreased by 5.4%, to EUR 330 million.

SLOVENIAN life insurance segment has a lower penetration than other EU members

Life Insurance in Slovenia, Key Trends and Opportunities to 2017 by Timetric states that "the Slovenian life insurance segment declined at a compound annual growth rate (CAGR) of -1.8% during the review period (2008-2012). This was primarily due to the banking crisis which, by the end of 2012, resulted in recession for Slovenia. However, increased investment in fixed capital creation and a recovery in private consumption managed to bring Slovenia out of recession by the end of 2013. Over the forecast period (2012-2017), the life insurance segment is projected to post a CAGR of 4.2% as the demand for traditional life insurance products, such as term life and annuities, is expected to grow. In addition, the new pension law and the amendments made to the prevalent insurance law in 2013 are further expected to support the segment's growth.


SLOVENIA 3Q2013: health insurance offsets the fall on the motor insurance business lines

The 3Q2013 results of the Slovenian insurance market brought no surprise, once again confirming the downward trend installed on the Slovenian insurance market in 2012. Thus, local insurers ended the first nine months of 2013 with underwritings of EUR 1.53 billion, 2.2% down as compared with the same period of 2012. The decreasing trend on the life insurance side was once again the main driver of the overall decrease in GWP, while on the non-life segment the business volume decreased by only 0.7% y-o-y.

Triglav: No expansion in Croatia

The biggest Slovenian insurance company planned to increase its stake in Croatia Osiguranje. Croatia's government rejected Triglav's offer.

SLOVENIA 1H2013: health insurance stabilizes the non-life segment while the market structure shows spectacular changes

The first half of 2013 confirmed the slightly downward trend installed on the Slovenian insurance market in 2012. Thus, local insurers ended 1H2013 with underwritings of EUR 1.08 billion, 1.16% down as compared with the same period of 2012. In fact, the negative trend was mostly driven by the continuous decreasing underwritings on the life insurance side, while on the non-life segment the overall business volume remained relatively stable, at a comparable level with the one recorded in 1H2012.

SLOVENIA: A.M. Best Affirms Ratings of Pozavarovalnica Sava d.d.

A.M. Best Europe - Rating Services Limited has affirmed the financial strength rating of A- (Excellent) and issuer credit rating of "a-" of Pozavarovalnica Sava d.d. (Sava Re) (Slovenia), the operating holding company of the Sava group of companies. The outlook for both ratings is stable.


SLOVENIA 1Q2013: Health insurance balances the non-life segment

The first quarter of 2013 confirmed the slightly downward trend installed on the Slovenian insurance market in 2012. Thus, local insurers ended the first three months of the current year with underwritings of EUR 567.6 million, 1.12% down as compared with the same period of 2012. In fact, the negative trend was driven by the continuous decreasing underwritings on the life insurance side, while on the non-life segment the overall business volume remained stable, at a comparable level with the one recorded in 1Q2012.

SLOVENIA: Prospects for growth in insurance sector over the medium term are fairly uninspiring

Recently published research from Business Monitor International, "Slovenia Insurance Report Q3 2013 states that in spite of a probable improvement in life premiums through H112 and H113, the overall prospects for growth in Slovenia's insurance sector over the medium term are fairly uninspiring. Nevertheless, there may be opportunities for particular players from changes to the competitive landscape as forced sellers leave the market place.


SLOVENIA: S&P affirms Sava Re at BBB+ under revised criteria

Standard&Poor's Ratings Services (S&P) said it affirmed its long-term counterparty credit and insurer financial strength ratings on Slovenian reinsurer Sava Re at BBB+ under the revised insurance criteria and removed it from CreditWatch with negative implications.

SLOVENIA: Zavarovalnica TRIGLAV cancels contracts with IFC

Insurer Zavarovalnica Triglav began Tuesday procedures to rescind the contracts with the International Finance Corporation (IFC) over its failure to recapitalise Triglav's subsidiary Triglav INT within the agreed period, the insurer said in a statement published on the website of the Ljubljana Stock Exchange.


SLOVENIA: KD Group aims at becoming the biggest insurance holding in the Balkans

Financial holding KD Group aims at becoming the biggest insurance holding in Slovenia and the Balkans by 2015 through the merger of life insurer KD Zivljenje and insurer Adriatic Slovenica that is to be carried out this year, the holding's chairman Matjaz Gantar said Monday, presenting KD Group's 2012 results.