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SLOVAKIA's parliament passes new insurance tax

The parliament has passed a bill on the introduction of a new 8% insurance tax in first reading. The new tax will be applied to all products of non-life insurance, with the exception of mandatory contractual insurance.









SLOVAKIA: New levy to raise insurance premiums

Rates may rise only marginally for some types of insurance, but others could increase by 15 percent or more, experts say. As of the beginning of 2017, prices of some non-life insurance products, mainly vehicle and travel insurance, have started to increase in Slovakia. Insurance companies are responding in this way to a new 8-percent levy that the state now applies to every new premium.


Slovak Rep.: Insurers will pay the special levy on business at a double rate, but lower corporate taxes

The Slovak Government and Parliament made several changes to the tax system with effect from 1 January 2017, some of them affecting also the local insurance companies, as well as their foreign shareholders. The recently adopted amendments concern - among others - corporate and personal income tax, value added tax, special levy in regulated industries, as well as social security and health insurance contributions, reads a Kinstellar report published by the Lexology portal.

SLOVAKIA: KBC interested in banking opportunities

Belgian banking and insurance group KBC is interested in looking for acquisition opportunities in Slovakia, in line with its plan to expand in its core markets in central Europe, KBC Group Chief Executive Johan Thijs said on Wednesday.

SLOVAK Rep.: Increasing insurance taxation is raising hauliers' discontent

The Slovak government's decision to extend the 8% tax, previously applied only to the MTPL insurance premiums, to all the facultative non-life insurance lines has raised not only insurers' discontent, but also a negative reaction of CESMAD - the Association of Road Transport Operators of the Slovak Republic. In short, Slovak hauliers blame the recent change in taxation for the sharp increase in the mandatory motor insurance prices.


STATISTICS: SLOVAK Rep., NBS: The insurance market went down by 4% in 2015

Last year, the Slovak insurance market totaled EUR 2 billion, down by 4.1% y-o-y, as the preliminary statistics published by the National Bank of Slovakia (NBS) indicated. The life insurance field decreased by 9.6% y-o-y due to the 18% depreciation of unit-linked subsegment, while the non-life GWP was up by 2.8% to EUR 965 million.

SLOVAKIA: ALLIANZ acquires "Central Shopping Center" in Bratislava

ALLIANZ Real Estate (ARE) has acquired 100% of the shares of Central Shopping Center in Bratislava from IMMOCAP Group, a Slovakian real estate development company, for around EUR 175 million. It is the first real estate investment of ALLIANZ in Slovakia.