During Q1-Q3 2022, the Slovak insurance market totaled EUR 1.43 billion, 10.55% less y-o-y, according to the 9 months statistics published by the National Bank of Slovakia (NBS).

The life insurance segment was down by 12.69% y-o-y to EUR 586.19 million, while the non-life classes accounted for EUR 852.78 million (or 59.26% of total GWP), or 9.02% less y-o-y.

The value of paid claims by local insurers decreased by 1.92% y-o-y to EUR 847.40 million, of which EUR 433 million related to life indemnities, the remaining EUR 414.37 million being accounted by the other non-life subclasses.

According to NBS statistics, at the end of September 2022, profits of local insurers amounted to EUR 123.19 million, which was a 19.35% decrease as compared to end-September 2021 (EUR 152.74 million).

Technical result in life insurance entered the positive area (EUR 180.58 million vs. EUR-47.96 million in Q3 2021), while for the non-life insurance segment decreased to EUR 75.43 million vs. EUR 76.96 million a year before.

Access xprimm.com and download the Q3 2022 Slovak insurance market statistics.