Location map
author: OCHA/ ReliefWeb

- Central Europe;
- Neighbours: Hungary, Austria, Czechia, Poland, Ukraine.

- temperate climate;
- cool summers;
- cold, cloudy, humid winters.

Macro indicators
* 2018 estimates
Pop. density*:110.9people/km2
GDP*:90.2EUR billion

European Union:
EU member, since 2004

Currency: Euro
Code: EUR
Since: 2009
- replaced Slovak koruna (SKK)

Insurance market portfolio
* 2018 estimates
Overall Property*:12%
Overall Motor*:31%




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Slovakia 1Q2022 Rankings Portfolio S L A S P O

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Slovakia FY2021 Market Portfolio N B S Update

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Latest news

STATISTICS: 9 months profits of Slovak insurers more than doubled to EUR 132.63 million

In the first three quarters of 2020, the Slovak Republic insurance market totaled EUR 1.68 million, 1.88% less y-o-y, according to the quarterly financial figures published by the National Bank of Slovakia (NBS).

The life insurance segment was down by 6.82% y-o-y to EUR 702.89 million, these types of policies generating 41.79% of the total insurance market, while the remaining 58.21% was accounted by non-life subclasses - GWP of EUR 979.17 million or 2% more y-o-y.

SLOVAKIA: ACHMEA to acquire POSTOVA Poistovna

The Dutch financial group ACHMEA announced is expanding its presence on Slovak insurance market by the acquisition of POSTOVA Poistovna after its local subsidiary - UNION and the shareholders of POSTOVA Poistovna - POSTOVA Banka and SLOVENSKA POSTA - had reached agreement on the transaction.

SLOVAKIA: NBS bans NOVIS from new business

Narodna banka Slovenska (NBS), the Slovakian national supervisory authority, has issued an interim measure banning new business from NOVIS Insurance Company, NOVIS Versicherungsgesellschaft, NOVIS Compagnia di Assicurazioni, NOVIS Poistovna a.s. (NOVIS), until specified conditions are fulfilled by NOVIS.

SLOVAKIA: CSOB strengthens its presence throught OTP Banka Slovensko acquisition

The Belgium's KBC Group and OTP Bank, the Hungarian parent company of OTP Banka Slovensko (Slovakia), reached agreement for KBC to acquire ownership of 99.44% of the shares in OTP Banka Slovensko, a mid-sized Slovakian bank focusing on retail, micro SME and SME customers. The remaining shares are held by a number of private individuals.

STATISTICS: SLOVAK Q3 insurance market net profit almost halved to ~EUR 63 million

In the first three quarters of 2019, the Slovak insurance market totaled EUR 1.71 billion, 2.50% more y-o-y, according to the quarterly financial figures published by the National Bank of Slovakia (NBS). Life and non-life paid claims and indemnities increased by 6% to EUR 1.05 billion, of which about 46% were related to non-life sub-classes.

GENERALI to take over ERGO units in Hungary and Slovakia

Italian insurer GENERALI announced signing an agreement to take over the entire life, non-life and composite insurance portfolios of three entities of ERGO International AG in Hungary and Slovakia. The sale is subject to certain regulatory and anti-trust approvals, as is customary for transactions of this kind. The parties have agreed not to provide details of the purchase price and other terms.

A new life insurance company will launch in CZ & SK markets

Youplus, a new life insurance company, will launch in the Czech and Slovak insurance markets in May 2019. Youplus will begin operation in the Czech Republic the first half of 2019 and enter the Slovak market in the second half.

New appointments made inside AXA CZ & SK

Starting with March 2019, AXA Group will have a new Chief Risk Officer and a new Chief Technical Insurance Officer operating inside Czech Republic and Slovakia. The changes are waiting for regulator's approvals.