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%



SLOVAKIA: ORANGE offers free travel insurance with roaming

Orange Slovakia is offering travel insurence for the whole family from MetLife Amslico with its roaming packages for free. The promotion applies until 30 September for the roaming offers My Europe/My Europe+, My World/My World+ or Roaming+. The insurance coverage is up to EUR 40,000 in the EU and EUR 100,000 elsewhere. Moreover, the package My Europe, with which customers can call, send SMS and use data anywhere in the EU for domestic prices, that is, EUR 0.12, is free for two months.

SLOVAKIA sees off health insurance claim

An Austrian investor in Slovakia's health insurance market has seen the remainder of its treaty claim against the state thrown out at the jurisdictional stage.

SLOVAK insurance sector stays the course

THE SLOVAK insurance sector saw no dramatic changes last year, while stabilisation in the eurozone was reflected in developments in Slovakia, too, which mirrored those in other countries in the region. Expectations with respect to positive developments in macro-economic indicators are optimistic. In addition, the insurance sector is preparing for Solvency II and the payment of the first pensions from the so-called second, private, old-age insurance pillar.

SLOVAKIA: More people buying insurance online

NEW technologies are impacting the insurance industry and several companies in Slovakia now sell insurance policies via the internet or mobiles - along with reporting an increased interest from clients in these channels.

SLOVAKIA: Car insurance scam revealed

THE NATIONAL criminal agency has uncovered a group of seven people who filed fraudulent claims worth EUR 775,000 with an insurance company over fictitious car accidents.

Dutch firm Achmea loses arbitration against SLOVAK state

THE ARBITRATION proceedings initiated by Dutch company Achmea, the owner of the health insurer Union, against the Slovak government, which plans to merge the three existing health insurers and introduce a unitary state system of health insurance, ended with a victory for Slovakia.

SLOVAKIA FY2013: Moderate growth in GWP, with no significant changes

2013 was year stability for the Slovak insurance market, with no major changes. The market continued to increase its business volume at a slow pace, recording a 2.7% growth in GWP, to EUR 2.17 billion. However, looking at its two main segments, it is obvious that life insurance performed better, ending the year with a 5.9% growth in premiums, while on the non-life sector almost all the main business lines recorded a slightly negative trend.

VIG expands market leadership in SLOVAKIA

The excellent development of Vienna Insurance Group in Slovakia continues. The Group expanded its market share to 34.5 per cent, sharply increasing its edge over competitors, according to Vienna Insurance Group.

SLOVAKIA: Private health insurers nationalization due to lack of financial resources

Slovakia's government on Wednesday suspended its plan to create a single state-owned health insurer and potentially nationalize the EU member's two private insurers, informs According to an official release, the idea on creating a single state-owned health insurer will be put on hold until the finance ministry will be able to cover the operation's costs. At all events, the 2014 deadline can not be met.

Traditional life policies pushed up the Slovak market to EUR 1.56 billion

In the first nine months of 2013, the Slovak insurance market increased by 2.2% y-o-y to EUR 1.56 billion, according to the financial figures published by the National Bank of Slovakia (NBS). The value of claims paid by insurers increased by 5.5% y-o-y, to EUR 910 million.

Vienna Insurance Group's Slovak operations post 8.6% increase in Jan-Sep earnings

Vienna Insurance Group (VIG) said its Slovak business recorded a pre-tax profit of EUR 42.8mn for the first nine months of 2013, up 8.6% y/y. Gross written premiums of VIG's Slovak subsidiaries totalled EUR 548.3mn through September, up 6.6% y/y, with life insurance premiums jumping 11.4% to EUR 297.3mn and non-life insurance premiums rising by 1.4% y/y to EUR 251mn.

SLOVAKIA close to losing arbitration against Achmea

Slovakia is a step closer to paying reimbursement to the Dutch company Achmea that owns the health insurance company Union. Last December, the arbitration court decided that the state has to pay EUR 22 million in reimbursement and court fees of EUR 3 million to Achmea, for the profit ban approved during the first tenure of Prime Minister Robert Fico.

AXA ends banking business in SLOVAKIA

The French financial group AXA is winding down its banking business in Slovakia to focus on different financial services. In late May AXA and UniCredit Bank Slovakia signed a cooperation agreement, based on which AXA Group will focus exclusively on insurance, pension savings and mutual fund investing, while UniCredit Bank will take up the banking portfolio.

SLOVAKIA, 1Q2013: Insurance market increased slightly due a 6% growth on life

In the first quarter of 2013, Slovak insurance market totaled almost EUR 573 million, representing an increase of 1.7%, according to the financial figures published by the National Bank of Slovakia (NBS). The positive market trend was determined by the increase of 6% in the volume of life insurance, to EUR 286 million, this type of policies generating 49.97% of the total insurance market. The non-life insurance segment accounted for about EUR 286.5 million (or 50.03%), 2.4% less y-o-y.

SLOVAK Rep. FY2012: Premiums up 4%, profit down 20%

The 23 members of the Slovak Insurance Association (SLASPO) reported for the financial year 2012 a total volume of gross written premiums of EUR 2.1 billion. The value is 3.7% higher as compared with audited figures published by The National Bank of Slovakia (NBS) for FY2011.