At the end of 2024, the Slovak insurance market totaled EUR 2.08 billion, 7% more y-o-y, according to the Q4 2024 Data of the Financial Sector published by the National Bank of Slovakia (NBS).

The life insurance segment increased by 3.6% y-o-y to EUR 781 million, these types of policies generating 37.5% of the total insurance market, while the non-life classes accounted for EUR 1.3 billion, 9.2% more y-o-y.

The value of paid claims by local insurers went up by 11.7% y-o-y to EUR 1.2 billion, of which EUR 553 million related to life indemnities, EUR 469 million - Motor insurance and ~EUR 74 million - payments related to property claim files.

According to the year-end market data published by SLASPO (Slovak Insurance Association), at the end of 2024, total GWP from the members of the association (domestic insurers and EU branches) totaled EUR 2.97 billion, up by 9% y-o-y. Premiums written in life insurance increased by 5.2% y-o-y to EUR 1.12 billion, while the non-life segment was up by 10% y-o-y to EUR 1.85 billion.

Access xprimm.com and download the FY2024 Slovak insurance market statistics.