The outlook for the insurance market in Slovakia remains stable and while car insurance is seeing heightened competition, the launch of payments from the second pension pillar has the potential to alter the market.

"The Slovak insurance market is stable in the long-term," Ivan Podstupka, spokesperson of the Slovak Association of Insurance Providers (SLASPO), told The Slovak Spectator, specifying that premiums increased by 0.5 percent in 2014. Of those, premiums in life insurance fell by 1.3 percent while non-life insurance premiums increased by nearly 3 percent. Read the full story SLOVAK insurance market is stable