STATISTICS: Slovakia, 3Q2017: Insurance market net profit down by 12.38% to EUR 135.69 million

In the first three quarters of 2017, the Slovak insurance market totaled EUR 1.61 billion, representing an increase of 7.62% y-o-y, according to the quarterly financial figures published by the National Bank of Slovakia (NBS).

According to the presented statistics, the profits of insurance companies operating in Slovakia amounted to EUR 135.69 million in 3Q2017, which was a 12.38% drop compared to september 2016 (EUR 154.86 million).

In GWP terms, the life insurance segment experienced an increase of 9.27% y-o-y to EUR 774.26 million, this type of policies generating 48.07% of the total insurance market, while the non-life classes accounted for EUR 836.54 million (or 51.93% of total GWP), or 6.14% more y-o-y.

In terms of growth rates, the most dynamic life insurance class was the one related to index-linked and unit-linked products: +20.76% to EUR 175.78 million.

On general insurance segment, in absolute values, the largest increases in GWP were recorded on the two motor insurance classes, as follows: MoD GWP was up by EUR 22.48 million to EUR 232.16 million, while the value of MTPL GWP increased by EYR 20.17 million to EUR 230.99 million.

Other indicators of the Slovak insurance market at September 30th, 2017:
  • Life indemnities: EUR 506.38 million
  • Non-life claims: EUR 358.73 million
  • Technical result in life insurance: EUR -22.99 million vs. EUR -25.84 million in 3Q2016
  • Technical result in non-life insurance: EUR 41.18 million vs. EUR 41.06 million in 3Q2016
  • ROA: 2.1%
  • ROE: 12.0%
  • Premium ceded to reinsurers (life): EUR 21.84 million
  • Premium ceded to reinsurers (non-life): EUR 224.18 million
  • Non-life loss ratio (net): 49.0% (MTPL - 57.9%, MoD - 64.6%)
  • Non-life expense ratio (net): 39.6% (MTPL - 37.0%, MoD - 34.8%)
  • Ratio of eligible own funds to SCR: 2.11
  • Ratio of eligible own funds to MCR: 5.40
Access www.xprimm.com and download the 3Q2017 Slovak insurance market statistics.


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

Share |

Related articles

ON THE MOVE

Bulgaria: Boiko ATANASSOV appointed as FSC's head

The Parliament of the Republic of Bulgaria appointed Boiko ATANASSOV as Chairperson of the Financial Supervision Commission (FSC) on March 15, with 134 votes in favour, none opposed or abstained.

21.03.2019

TOP EVENT

Climate and cyber: two Cs with catastrophic potential and the insurance business - under debate in Vienna, on April 9

10 years after its inception, the Romanian mandatory dwelling insurance system has progressed and PAID, the pool underwriting and managing the mandatory policies is a strong and financially sound institution. "We are currently managing a reinsurance program worth EUR 920 million, with a pool of excellent reinsurers, more than half of them rated AA+, while the company's solvency rate is of 220%," recently stated Nicoleta RADU, CEO, PAID.

21.03.2019

Conclusions: TBILISI - the first Georgian International Insurance Conference

The first Georgian International Insurance Conference took place on 14 March 2019. The event put under scrutiny the current status and the future development perspectives of the local market, in an attempt of identifying the main growth opportunities. The forthcoming launch of the mandatory MTPL system was the most important topic on the agenda, as this new line of business has the potential to provide for a significant growth, but also to become a market disruptor.

14.03.2019

See all