Last year, Slovak insurance market totaled EUR 2.04 billion, registering an increase by 1.3%, according to the financial figures published by the National Bank of Slovakia (NBS). Previous, SLASPO - the Slovak Insurers' Association, reported a 2.04% y-o-y growth, up to EUR 2.11 billion.

Positive market trend was determined by an increase in the volume of life insurance, the premiums written progressing to EUR 1.09 billion, by almost 1.5% compared to December 2010. Here, the largest increase was registered in U-L life insurance class, where premiums were 7.5% more than a year before. At the same time, the premiums written according to the traditional life insurance contracts decreased by 3.4% to EUR 572 million and represented 28% of the total insurance market.

On no-life insurance segment, which accounted for about 46% of the market (EUR 946 million), premiums of property insurance (11% of total market), increased by more than 6%.

At the same time, a negative change was recorded in the motor insurance line (motor hull and MTPL, added-up), where the value of GWP lowered by 1.4% than in 2010. This was determined by the decline registered in the volume of motor hull (-3.8%).

Access www.xprimm.com and download the FY2011 Slovak insurance market statistics.