Slovakia

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Location map
author: OCHA/ ReliefWeb


Location:
- Central Europe;
- Neighbours: Hungary, Austria, Czechia, Poland, Ukraine.

Climate:
- temperate climate;
- cool summers;
- cold, cloudy, humid winters.

Macro indicators
* 2018 estimates
Surface:49,035km2
Population*:5.4million
Pop. density*:110.9people/km2
GDP*:90.2EUR billion
GDP/capita*:16,574.2EUR

European Union:
EU member, since 2004

Currency: Euro
Code: EUR
Since: 2009
- replaced Slovak koruna (SKK)


Insurance market portfolio
* 2018 estimates
TOTAL LIFE*:47%
TOTAL NON-LIFE*:53%
Overall Property*:12%
Overall Motor*:31%


Sources:






 


Statistics

Slovakia 1Q2019 Market Portfolio

Slovakia FY2018 Market Portfolio


See all statistics

Latest news

SLOVAKIA: KBC acquires Volksbank Leasing

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 Sprostredkovatel'ska.


SLOVAKIA: Insurance sector profits rise

The Slovak insurance sector had a profit of EUR 179 million last year, according to the National Bank of Slovakia (NBS). This represented year-on-year growth of 13.3 percent.

SLOVAK insurance market is stable

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 market.

STATISTICS: SLOVAKIA FY2014: EUR 181 million, the second highest consolidated net profit in history

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 offers insolvency insurance

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+.

SLOVAKIA: More floods mean more insurance

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.

SLOVAKIA: Insurers keeping up with fraudsters

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.


STATISTICS: SLOVAKIA, 3Q2014: divergent trend on the life and non-life insurance lines

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.


SLOVAK charged with insurance fraud detained in Cuba

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.



SLOVAKIA: ORANGE offers free travel insurance with roaming

Orange Slovakia is offering travel insurence for the whole family from MetLife Amslico with its roaming packages for free. The promotion applies until 30 September for the roaming offers My Europe/My Europe+, My World/My World+ or Roaming+. The insurance coverage is up to EUR 40,000 in the EU and EUR 100,000 elsewhere. Moreover, the package My Europe, with which customers can call, send SMS and use data anywhere in the EU for domestic prices, that is, EUR 0.12, is free for two months.

SLOVAKIA sees off health insurance claim

An Austrian investor in Slovakia's health insurance market has seen the remainder of its treaty claim against the state thrown out at the jurisdictional stage.

SLOVAK insurance sector stays the course

THE SLOVAK insurance sector saw no dramatic changes last year, while stabilisation in the eurozone was reflected in developments in Slovakia, too, which mirrored those in other countries in the region. Expectations with respect to positive developments in macro-economic indicators are optimistic. In addition, the insurance sector is preparing for Solvency II and the payment of the first pensions from the so-called second, private, old-age insurance pillar.

SLOVAKIA: More people buying insurance online

NEW technologies are impacting the insurance industry and several companies in Slovakia now sell insurance policies via the internet or mobiles - along with reporting an increased interest from clients in these channels.

SLOVAKIA: Car insurance scam revealed

THE NATIONAL criminal agency has uncovered a group of seven people who filed fraudulent claims worth EUR 775,000 with an insurance company over fictitious car accidents.

Dutch firm Achmea loses arbitration against SLOVAK state

THE ARBITRATION proceedings initiated by Dutch company Achmea, the owner of the health insurer Union, against the Slovak government, which plans to merge the three existing health insurers and introduce a unitary state system of health insurance, ended with a victory for Slovakia.