STATISTICS: Slovak insurers' half-year profits expanded by almost a quarter to EUR 115 million

29 September 2021 — Andrei Victor
At the end of June 2021, the Slovak insurance market totaled EUR 1.15 billion, 0.3% more y-o-y, according to the half-year statistics published by the National Bank of Slovakia (NBS).

The profits of local insurers amounted to EUR 114.7 million, which was a 23.5% increase as compared to end-June 2020 (EUR 92.9 million), as official statistics show.

Technical result in life insurance was in the negative area (EUR-52.5 million vs. EUR 98.1 million in H1 2020), while the same indicator calculated for the non-life insurance segment increased by 14.1% y-o-y to EUR 54.8 million (vs. EUR 48.1 million).

In GWP terms, the life insurance segment was down by 2.5% y-o-y to EUR 457.4 million, these types of policies generating 39.7% of the total insurance market, while the non-life classes accounted for EUR 693.7 billion (or 60.3% of total GWP), or 2.2 % more y-o-y.

Overall, the value of paid claims by local insurers decreased by 4% y-o-y to EUR 591 billion, of which EUR 313.6 million related to life indemnities, EUR 101 million - Motor TPL claims, EUR 95.8 million- MoD payments.

According to the H1 SLASPO (Slovak Insurance Association) half-year statistics, in terms of GWP, the largest life insurers in the country were KOOPERATIVA VIG (EUR 149.14 million), Allianz-Slovenska (EUR 96.92 million) and Generali Poistovna (EUR 58.36 million), while the Top 3 in non-life insurance was formed by Allianz-Slovenska (EUR 241.74 million), KOOPERATIVA VIG (EUR 166.60 million) and Generali Poistovna (EUR 93.33 million).

Access and download the H1 2021 Slovak insurance market statistics.

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