Last year, the Slovak insurance market totaled EUR 2 billion, down by 4.1% y-o-y, as the preliminary statistics published by the National Bank of Slovakia (NBS) indicated. The life insurance field decreased by 9.6% y-o-y due to the 18% depreciation of unit-linked subsegment, while the non-life GWP was up by 2.8% to EUR 965 million.

Despite the reported negative rate, in terms of GWP, the market continued to be dominated by life insurance (EUR 1.1 billion), which accounted for the 52.2% of the total premium volume. Of this total, about EUR 509 million was generated by traditional life insurance segment, while the unit-linked products generated premiums of EUR 300 million.

Non-life insurance accounted for the remaining 48% of the market, of which 26% were generated by motor insurance policies: Motor Hull (12.7%) and MTPL (13.4%).

The aggregate value of claims paid by local insurers decreased by 3% y-o-y to EUR 1.1 billion.

Access www.xprimm.com and download the preliminary FY2015 Slovak insurance market statistics published by NBS.