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Slovakia Insurance Report Q1 2016

  • November 2015
  • -
  • Business Monitor International
  • -
  • 66 pages

Includes 3 FREE quarterly updates

BMI View: The insurance market in Slovakia is one of the more developed in the Central and EasternEurope region and benefits from the strong presence of major regional and global insurers, which bringhigh levels of expertise and capitalisation to the industry. Both the life and non-life insurance sectors areexpected to grow throughout our forecast period, benefiting from wider economic growth in the country andrelatively high levels of disposable income, although we do note that currency movements against thestrengthening US dollar will result in a short-term contraction in premiums written when measured in USdollar terms.

Key Updates and Forecasts

? Slovakia's slightly more developed life insurance industry is expected to see steady growth throughoutthe forecast period, recovering from a short-term contraction caused by currency movements to seepremiums grow from USD1.38bn in 2015 to USD1.88bn in 2019.

? Growth will be slower in the non-life sector, which is hampered by price competition and limited demandfor non-motor and property lines. As such premiums are expected to increase from USD1.05bn in 2015 toUSD1.29bn at the end of the current forecast period.

? While the government has increased the minimum wage to EUR405 from 2016 the basic wage level foremployer exemptions for contributions to public health insurance plans will remain at EUR380mn.

Table Of Contents

Slovakia Insurance Report Q1 2016
BMI Industry View 7
Table: Headline Insurance Forecasts (Slovakia 2012-2019) 7
Insurance 8
Industry Forecast 10
Life Premiums Forecast 10
Table: Life Premiums (Slovakia 2012-2019) 13
Table: Life Insurance Claims (Slovakia 2007-2013) 13
Non-Life Premiums Forecast 14
Table: Non-Life Premiums (Slovakia 2012-2019) 17
Table: Non-Life Insurance Claims (Slovakia 2008-2014) 19
Non-Life Sub-Sector Forecast 19
Table: Non-Life Insurance Premiums by Product Line (Slovakia 2012-2019) 29
Industry Risk Reward Ratings 30
Emerging Europe Risk/Reward Index 30
Table: Emerging Europe Insurance Risk/Reward Index 31
Market Overview 32
Life Market Overview 32
The Product Offering 32
The Competitive Landscape 33
Table: Life Insurance Market (USDmn) 2007-2014 35
Non-LIfe Market Overview 37
The Product Offering 37
The Competitive Landscape 38
Table: Non-Life Insurance Market (USDmn) 2007-2014 40
Company Profile 42
Achmea 42
Allianz 44
Generali 49
Groupama 53
UNIQA Group 55
Vienna Insurance Group (VIG) 58
Methodology 61
Industry Forecast Methodology 61
Risk/Reward Index Methodology 64
Table: Indicators 66

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