The Slovene insurance market grew by 9% in 2023, consolidated GWP reaching EUR 3.05 billion, which is 9% more y-o-y. At the same time, paid claims went up by almost 23%, to EUR 2.22 billion, driven by the compensations pai after the floods in June 2023.
25 April 2024
The results of the Eurobarometer survey published last year show that the level of financial literacy in the EU is low on average (18% of EU citizens have high financial literacy). There are considerable differences between EU countries. Only in four EU member states 25% of people have a high level of financial literacy, i.e. the Netherlands, Sweden, Denmark, and Slovenia.
25 March 2024
The Supervisory Board of the Slovene health insurer Vzajemna Insurance Company appointed Matija Senk as the new Chairman of the Management Board, wrote n1info.si
here. His mandate started on March 1
st.
25 March 2024
On November 21 and 22, 2024 the International Insurance Fraud Conference will take place in Rikli Balance Hotel Bled, Slovenia, the
Slovenian Insurance Association announced.
19 March 2024
The Sava Insurance Group achieved strong organic growth in all its operating segments and markets in 2023. Its business volume increased to EUR 910.1 million, up 14.4% on the previous year and 13.8% ahead of plan, the Groups announced in a press release.
7 March 2024
Triglav Group's total business volume rose by 12% to EUR 1,78 billion in 2023, while its earnings before tax amounted to EUR 21.1 million, the unaudited data released by the Group show. The regulated price of supplemental health insurance in Slovenia and record high CAT claims impacted the Group's earnings.
6 March 2024
Between 1980 and 2020, economic losses caused by natural disasters in Slovenia totaled EUR 3.8 billion. Only 43% of these losses were insured, which corresponds to an amount of EUR 1.6 billion, the figures indicating a significant gap in insurance coverage, data provided by the Slovenian Agency of Insurance Supervision (AZN) show.
6 March 2024
The business of Slovenian insurers rose 9.89% on the year in the first nine months of 2023, reaching EUR 2.35 billion in terms of GWP, according to the end-September 2023 market data of the Slovenian Insurance Association.
10 January 2024
Triglav Group’s total business reached EUR 1,39 billion while GWP increased to EUR 1,28 billion, both indicators seeing a 12% y-o-y growth in the first 9 months of 2023. The group expects business volume to reach EUR 1.6 billion and earnings before tax between EUR 100 million and EUR 120 million in 2024.
6 December 2023
The GWP of Slovenian insurers rose 9.5% on the year in the first six months of 2023, reaching EUR 1.62 billion, according to the end-June 2023 market data from the Slovenian Insurance Association.
25 October 2023
On Monday, 11 September, the conference entitled "Artificial intelligence in insurance - evolution or revolution?" will take place in Ljubljana, Slovenia, organized by the Insurance Supervision Agency of Slovenia. The events is the 8th is a series of already traditional annual international conferences.
7 September 2023
Extreme weather events between 1980 and 2020 caused economic losses ranging from EUR 450 to EUR 520 billion (depending on the source) and between 85,000 and 145,000 deaths (depending on the source) in the 32 member states of the European Economic Area (EEA) *. Notably, a large proportion of these losses remained uninsured, with percentages varying by event type and European Economic Area (EEA) member state.
7 September 2023
Between 2006 and 2020, compensations paid by Slovenian insurers for damagse caused by natural disasters amounted to EUR 850 million, the Slovenian Agency for Insurance Supervision said. Damages to real estate account for the largest share of the compensations paid, followed by damage to cars.
Looking back, the highest compensations were paid in 2008. In the whole year, insurance companies paid out almost EUR 140 million euros for damages caused by natural disasters. Rainfall with hail and strong gusts of wind on 15 and 16 August 2008 resulted in the highest compensation paid for an individual event, which amounted to almost EUR 85 million.
17 August 2023
The Slovenian insurance market totaled EUR 825.3 billion at the end of March 2023, an 8.3% increase y-o-y, according to the Slovenian Insurance Association's quarterly figures. Life insurance GWP posted a negative subunit rate of -0.2% y-o-y to EUR 197.3 million, while the general insurance segment increased by 11.2% y-o-y to EUR 628 million - or 76.1% of total GWP.
17 August 2023
Severe storms and heavy rain have caused Slovenia's worst floods on record, also affecting the South of Austria. While economic losses are estimated at about EUR 500 million, thousand of people evacuated from their homes and at least 6 died. Local re/insurers expect significant claims expenses.
8 August 2023
What does artificial intelligence mean for the human role in insurance? Will artificial intelligence replace some traditional professions? Will it replace the agent, loss assessor and actuary?
The topic is on the agenda of the upcoming conference entitled "Artificial intelligence in insurance - evolution or revolution?", that will take place in Ljublijana, at the Grand Hotel Union.
22 June 2023
In Q1 2023, the Triglav Group increased its total business volume to EUR 484.6 million (+9% y-o-y) and generated EUR 18.5 million in profit before tax (-37% y-o-y). Results were affected by the more challenging business conditions accompanied by the effects of inflation, higher claim intensity, a lower health insurance result and the effects of methodological decisions in the transition to IFRS 17 and IFRS 9 accounting standards.
31 May 2023
The Insurance Supervision Agency of Slovenia announces the international conference on September 11, 2023 which will focus on artificial intelligence and its role in the insurance industry. Registrations are opened online
here.
25 May 2023
The Slovenian insurance market totaled EUR 2.79 billion at the end of 2022, a 7% increase y-o-y, according to the Slovenian Insurance Association's year-end figures. Life insurance GWP increased by 3.12% y-o-y to EUR 770 million, while the general insurance segment increased by 8.5% y-o-y to EUR 2.02 billion - or 72.5% of total GWP.
20 April 2023
Slovene Zavarovalnica Triglav informed, that on 2 March 2023 Blaz Jakic assumed the office on the Management Board of Zavarovalnica Triglav for the five-year term of office.
8 March 2023