The Slovene insurance market fell by 10.8% in 3Q 2024, consolidated GWP reaching EUR 2.09 billion, according to data provided by the Slovenian Insurance Association. Life insurance GWP increased by 7.7%, to EUR 656.4 million, while non-life insurance decreased by 17.26%, to EUR 1.44 billion.

The massive fall of the non-life segment was the result of the convulsion cause by the governmental decision to abolish, starting with January 1st 2024 the voluntary supplementary health insurance and replace it by a mandatory health contribution managed by the public Health insurance institute of Slovenia. All the policies issued by the insurance companies that provide supplementary health insurance have automatically expired at 31 Decembre.

The health insurance class saw a 90.4% decrease in GWP, to EUR 49.6 million, its share in the market portfolio decreasing from 22% to 2.3%.

In property insurance, GWP increased by 18%, to EUR 338.8 million. Motor insurance lines had, in absolute terms, the highest positive contribution to the overall GWP. Overall, motor insurance GWP reached EUR 734.5 million.

Access xprimm.com and download H12024 Slovenian insurance market statistics.