In 1Q2015 the Slovak insurance market totaled EUR 614.20 million, 4.43% up y-o-y, the statistics published by the National Bank of Slovakia (NBS) indicated. The value of paid claims increased by 4.67% y-o-y to EUR 313.88 million.
Yesterday, CSOB Leasing and Volksbank Leasing International reached
agreement for CSOB Leasing to acquire all the shares of Volksbank
Leasing Slovakia and its insurance brokerage subsidiary, Volksbank
The value of aggregate gross written premiums of insurer members of Slovak Insurance Association - SLASPO has risen by an annual of 3.62% to EUR 632.29 million in the first three months of 2015, as the preliminary SLASPO statistics indicated.
The outlook for the insurance market in Slovakia remains stable and
while car insurance is seeing heightened competition, the launch of
payments from the second pension pillar has the potential to alter the
The consolidated net profit of the Slovak insurance market amounted, in 2014, to EUR 181.09 million, 13.4% up y-o-y, according to data provided by the National Bank of Slovakia (NBS). "The amount is the second highest in history, while the maximum, EUR 188 million, was reached in 2011," Julia CILLIKOVA, Director of the NBS Regulation and Financial Analysis Department, told XPRIMM.
Slovak Telekom, in cooperation with the insurance company Allianz, introduced Invoice Insurance, which provides coverage in the event a person is unable to pay his monthly invoices, not only to Slovak Telekom, but also to other companies including housing fees. The service is offered in four levels, depending on coverage: 25, 25+, 50 and 50+.
The impact of torrential rain, thunderstorms, lightning, hail,
landslides and floods caused millions of euros in damage in Slovakia
this year, and with signs that climate change is creating less
predictable global weather patterns, flood insurance is an increasingly
necessary investment for many homeowners and businesses.
Fraud has always been a concern for insurance companies, but fraudsters
are developing ever more sophisticated schemes; insurance companies,
meanwhile, are responding with more effective countermeasures.
Gross written premium in 3Q2014 by the Slovak insurers went up y-o-y by 2%, to EUR 1.6 billion, at a fairly equal growth pace for life and non-life insurance segments. According to the National Slovak Bank, the market supervisor, overall the number of insurance policies grew by 4.13%, which compared with the GWP increase indicates a still highly competitive market.
A Slovak man who was being sought by police over alleged insurance fraud
has been apprehended in Cuba, the TASR newswire learned from Martin
Waldl of the Police Corps Presidium's communications and crime
prevention department on October 9. "Following close cooperation
with the Cuban Embassy in Slovakia and the Slovak Embassy in Cuba, the
first extradition of a person from Cuba to Slovakia took place today,"
said Waldl, as quoted by TASR.