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.

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