Life insurance GWP went down by about 7%, mostly because of the business reduction on the single premium segment, according some market sources. Non-life insurance lines saw a 4.3% increase in GWP, with several players mentioning motor insurance as the main driver. Yet, as at this time very few official data are available, one should consider these data as only informatory.
Although official data concerning the market rankings are not available, we have gathered some information from the annual reports published by the market players. Overall, the market hierarchy seems to be quite similar to the last official rankings available, for the year 2014.
Thus, according to the VIENNA Insurance Group report for 2016, the three insurers representing the Austrian group in Slovakia - Kooperativa, Komunalna and PSLSP -, together account for a 32.9% market share.
The GENERALI subsidiary is holding, according to the Group's statement, for a 7.5% share of the life insurance business, and a 11.5% of the P&C market.
In 2015, according to XPRIMM calculations, the ALLIANZ subsidiaries had a market share of 34.8% on the P&C segment and 23.4% on the life insurance market.
Find more 2016 market information in the forthcoming edition of the XPRIMM Insurance Report CEE, SEE & CIS - FY2016, to be launched on 22 May.
Access www.xprimm.com and download the FY2016 Slovak insurance market statistics.