SLOVAK market ended 1Q2012 with a loss of 0.75% y-o-y

Gross premiums written by the Slovak Insurance Association (SLASPO) insurers decreased by 0.75% on the year to EUR 581.72 million in the first quarter of 2012, recently figures published by SLASPO showed. During the analyzed period, 23 SLASPO members operated in the profile market.

First quarter GWPs from non-life insurance decreased by 2.61% to EUR 300.13 million, while premiums revenue from life insurance segment grew by 1.30% to EUR 281.60 million, equivalent to 48.41% of total market.

In the first three months of 2012, three major insurance groups have held over 72% market share of the total market: VIENNA INSURANCE Group, ALLIANZ and GENERALI.

The VIENNA INSURANCE Group companies (KOOPERATIVA poistovna, KOMUNALNA and Poistovna SLOVENSKEJ sporitelne) achieved in 1Q2012 a market share of 34.11% and thus consolidated their position as the number 1 in the Slovak insurance market.

ALLIANZ was the second largest group in the insurance market, the insurance company ALLIANZ - Slovenska poistovna obtaining a market share of 29.63%. Analyzing only the activity of insurance companies, ALLIANZ - Slovenska poistovna was the market leader, before KOOPERATIVA poistovna VIG. At the same time, according to SLASPOS's financial figures, ALLIANZ - Slovenska poistovna was the market leader in both market segments: life insurance (including unit-linked) and non-life insurance (including Motor hull). In the market hierarchy presented on MTPL, ALLIANZ - Slovenska poistovna ranks second after KOOPERATIVA poistovna VIG.

Created in 2008 by a merger of CESKA poistovna - Slovensko and GENERALI Poistovna, GENERALI Slovensko was the third insurer in Slovakia, with overall market share in premiums written of 8.62%.

Access www.xprimm.com and download the 1Q2012 Slovak insurance market statistics.

Market portfolio:
  • Gross written premiums
  • Growth rates
Market rankings (GWP/Market shares/Growth rates):
  • Total market ranking
  • Life insurance ranking
  • Unit-linked insurance ranking
  • Non-life insurance ranking
  • Motor hull insurance ranking
  • MTPL insurance ranking

Follow XPRIMM Publications on LinkedIn, for more data on the insurance and financial industry.

Share |

Related articles

ON THE MOVE

Supervisory Board Chair NN Group steps down

NN Group announces that Jan HOLSBOER, chair of the Supervisory Board of NN Group, has decided to step down as of the close of the annual general meeting (AGM) on 29 May 2019. The Supervisory Board has elected David COLE as Jan HOLSBOER's successor.

20.02.2019

Peter CLARKE named VP & COO of FAIRFAX

FAIRFAX Financial Holdings Limited announced that Peter CLARKE has been appointed Vice President (VP) and Chief Operating Officer (COO) of FAIRFAX, reporting to FAIRFAX President, Paul RIVETT.

12.02.2019

TOP EVENT

Inclusive Insurance - just a week to the second edition of IIF - CEE & SEE Regional Actuarial Insurance Conference in Skopje

Insurance should be accessible to all social classes, regardless of their wealth & income status. Products offered today are conventional insurance products, largely inspired from the developed markets as "one-size-fits-all" solutions, affordable to only middle- and high-income clients in the Eastern Europe's emerging & developing markets. Inclusive insurance's goal is making insurance available to all, with responsible insurance offers, thus making up for a solution to narrow the insurance coverage gap in the region.

20.02.2019

Latest trends and challenges in the property and motor insurance lines under scrutiny, in Vienna

Property and motor insurance lines are providing for about 75% of the non-life insurance business in the CEE region, but are responsible for over 77% of the claims expenses. As such, although other classes of risks are emerging, for the time being and most probably for a rather long period ahead, property and motor insurance lines will continue to be at the heart of CEE's insurance market architecture.

21.02.2019

FIAR 2019: Register before 28 February and save EUR 400 of the attendance fee

To the satisfaction of its traditional guests, FIAR returns in 2019 to its historical hometown, Sinaia. The forthcoming edition will benefit from the comfort and professional facilities of a new venue, the Conference Center of the International Hotel ****, located in the heart of the beautiful mountain resort. Registration is opened at a significantly discounted early bird rate until 28 February.

10.01.2019

See all