The GWP of Slovenian insurers rose 9.5% on the year in the first six months of 2023, reaching EUR 1.62 billion, according to the end-June 2023 market data from the Slovenian Insurance Association.

On Monday, 11 September, the conference entitled "Artificial intelligence in insurance - evolution or revolution?" will take place in Ljubljana, Slovenia, organized by the Insurance Supervision Agency of Slovenia. The events is the 8^th is a series of already traditional annual international conferences.

Extreme weather events between 1980 and 2020 caused economic losses ranging from EUR 450 to EUR 520 billion (depending on the source) and between 85,000 and 145,000 deaths (depending on the source) in the 32 member states of the European Economic Area (EEA) *. Notably, a large proportion of these losses remained uninsured, with percentages varying by event type and European Economic Area (EEA) member state.

Between 2006 and 2020, compensations paid by Slovenian insurers for damagse caused by natural disasters amounted to EUR 850 million, the Slovenian Agency for Insurance Supervision said. Damages to real estate account for the largest share of the compensations paid, followed by damage to cars.
Looking back, the highest compensations were paid in 2008. In the whole year, insurance companies paid out almost EUR 140 million euros for damages caused by natural disasters. Rainfall with hail and strong gusts of wind on 15 and 16 August 2008 resulted in the highest compensation paid for an individual event, which amounted to almost EUR 85 million.

The Slovenian insurance market totaled EUR 825.3 billion at the end of March 2023, an 8.3% increase y-o-y, according to the Slovenian Insurance Association's quarterly figures. Life insurance GWP posted a negative subunit rate of -0.2% y-o-y to EUR 197.3 million, while the general insurance segment increased by 11.2% y-o-y to EUR 628 million - or 76.1% of total GWP.

Severe storms and heavy rain have caused Slovenia's worst floods on record, also affecting the South of Austria. While economic losses are estimated at about EUR 500 million, thousand of people evacuated from their homes and at least 6 died. Local re/insurers expect significant claims expenses.

What does artificial intelligence mean for the human role in insurance? Will artificial intelligence replace some traditional professions? Will it replace the agent, loss assessor and actuary? The topic is on the agenda of the upcoming conference entitled "Artificial intelligence in insurance - evolution or revolution?", that will take place in Ljublijana, at the Grand Hotel Union.

In Q1 2023, the Triglav Group increased its total business volume to EUR 484.6 million (+9% y-o-y) and generated EUR 18.5 million in profit before tax (-37% y-o-y). Results were affected by the more challenging business conditions accompanied by the effects of inflation, higher claim intensity, a lower health insurance result and the effects of methodological decisions in the transition to IFRS 17 and IFRS 9 accounting standards.

The Insurance Supervision Agency of Slovenia announces the international conference on September 11, 2023 which will focus on artificial intelligence and its role in the insurance industry. Registrations are opened online here.

The Slovenian insurance market totaled EUR 2.79 billion at the end of 2022, a 7% increase y-o-y, according to the Slovenian Insurance Association's year-end figures. Life insurance GWP increased by 3.12% y-o-y to EUR 770 million, while the general insurance segment increased by 8.5% y-o-y to EUR 2.02 billion - or 72.5% of total GWP.

Slovene Zavarovalnica Triglav informed, that on 2 March 2023 Blaz Jakic assumed the office on the Management Board of Zavarovalnica Triglav for the five-year term of office.

The gross written premiums of Slovenian insurers rose 4.8% on the year in the first nine months of 2022, reaching EUR 2.14 billion, according to the end-September 2022 market data of the Slovenian Insurance Association.

Slovenian insurers reported GWP up by 4.62% y-o-y in 1H2022, to EUR 1.48 billion. The absolute trend setter was the non-life segment which saw a 6.3% GWP growth rate, to EUR 1.08 billion, while the life insurance segment remained, overall, at the 1H2021 GWP level, of EUR 393.6 million. Yet, one should notice that the Unit-Linked products line was the one which, by recording a 7.6% premiums growth, has offset the negative trend seen on the traditional life insurance lines. Paid claims went up by about 11,67%, to EUR 906 million, mostly driven by the health insurance line.

Following its regular annual rating review, the rating agency AM Best (Agency) affirmed the financial strength rating of Sava Re of "A" (Excellent) and its long-term issuer credit rating of "a" (Excellent), both with a stable outlook, the Slovenian reinsurer said.

Slovenian Sava Insurance Group generated a net profit of EUR 28.9 million in 1H2022, which is 48.2% of the annual target. The Group achieved operating revenue of EUR 364.2 million, representing 52.0% of the full-year target, the Group announced.

Slovenian insurers reported GWP up by 5.08% y-o-y in 1Q2022, to EUR 762.2 million. The trend setter was the non-life segment which provided for about 93% of the y-o-y additional premiums volume. Paid claims went up by about 12,6%, to EUR 453.7 million, mostly driven by the health insurance line.

The Slovenian insurance market totaled EUR 2.60 billion at the end of 2021, a 1.5% increase y-o-y, according to the Slovenian Insurance Association's year-end figures. Life insurance GWP posted a negative rate of -1.2% y-o-y to EUR 740 million, while the general insurance segment increased by 2.7% y-o-y to EUR 1.87 billion - or 71.63% of total GWP.

David KASTELIC, the long-time President of the Management Board of Zavarovalnica Sava and former Zavarovalnica Maribor, will continue his career at Grawe zavarovalnica, local media wrote.

Slovene re/insurance group Triglav announced its operations are to some extent exposed to the situation resulting from the war in Ukraine and related sanctions against Russia and Belarus.

Sava Insurance Group expects no material impact on its business results from the war in Ukraine, as its business volume and investment exposure to Russia and Ukraine are very low. An indirect impact on the Group's investment portfolio can be expected due to the trends in financial markets, the Group said.