STATISTICS: SLOVAK Rep., 1H2017: motor insurance line account for 57% of non-life insurers' GWP and 80% of claims

In 1H2017, the Slovak insurance market totaled EUR 1.06 billion (11.8% more y-o-y), while the value of paid claims was of EUR 575 million, according to the preliminary financial figures provided by the National Bank of Slovakia.

More in detail, the non-life insurance field generated more than half of the total GWP (51.9%), while the life classes accounted for 48.1% of the market (EUR 513 million).

The life unit-linked products accounted for about a quarter of total life GWP (~EUR 115 million), while traditional policies and other supplementary life insurance have generated premiums of about EUR 400 million.

The non-life portfolio was dominated by the two motor insurance sub-classes which generated together 57% of total non-life insurers' business and about 80% of claims: Motor TPL (29% of non-life GWP and 40% of claims) and MoD (28% and 40%).

"The technical result continues to be positive in life insurance and reached EUR 11 million. The technical result in non-life decreased by 10% to the EUR 29 million what might be the natural compensation of significant increase which was recorded in the previous period - in the year 2016. The solvency capital ratio decreased from 229% to 209% especially in case of insurers with higher solvency ratio at the year-end 2016," representatives of the market supervisory authority told XPRIMM.

Access www.xprimm.com and download the preliminary 1H2017 Slovak insurance market figures.

More about the Slovak insurance market evolution in 1H2017 will be available in the forthcoming issue of XPRIMM Insurance Report 1H2017, to be released on October, 22th, on the occasion of the Baden-Baden Meetings (22-26 October).

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

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