STATISTICS: SLOVENIA, 1H2016: GWP of EUR 1 billion, fairly equal to the previous year's result

The first half of 2016 ended for the Slovene insurance market with GWP worth EUR 1.06 billion, a figure which is fairly equal to the one recorded in 1H2015. In comparison with the previous semesters, it seems that timid signs of recovery showed by the local market throughout 2015, after several years of sluggish decline, are still far from becoming a robust trend.

Life insurance recorded a negative dynamic, with GWP declining by 5.46% y-o-y, driven down by the almost 10% GWP decrease seen on the Unit-Linked life insurance line. The negative trend has affected all the major life insurance companies, but MODRA has recorded the largest reduction in GWP (-23.6%), thus losing about 2pp of its market weight and descending 2 positions in the market ranking. Top 3 life insurers account for almost 57% of the life GWP, 1 pp more than in 1H2015.

Non-line GWP have increased by about 2% y-o-y, to EUR 795.3 million, with the GTPL, credit and suretyship insurance line recording the highest dynamic among the relevant business lines. Paid claims went down, overall by 0.8% y-o-y.

On the motor insurance segment, the market remained fairly competitive. The MTPL line ended 1H2016 with an 1.14% y-o-y decrease in GWP. Yet, one should notice the 4% growth in Motor Hull GWP, most probable supported by the increase in car sales (+9.4% for passenger cars, +38% for commercial light vehicles).

Property insurance lines saw a 2% increase in GWP, almost entirely owed to the premium increase on the "damages to property" line.

Read more about the Slovenian insurance market evolution in 1H2016 in the forthcoming issue of XPRIMM Insurance Report 1H2016, to be released on October, 23rd, on the occasion of the Baden-Baden XPRIMM Reception (Kurhaus Casino, Runder Saal).

Access www.xprimm.com and download the 1H2016 Slovenian market ranking statistics.

Market portfolio:

  • Gross written premiums
  • Paid claims
  • Growth rates
Market rankings (GWP/ Market shares/Growth rates):
  • Total market ranking
  • Life insurance ranking
  • Non-life insurance ranking

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

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