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Synopsis
Timetric’s 'Life Insurance in Slovakia Key Trends and Opportunities to 2020' report provides a detailed outlook by product category for the Slovak life insurance segment, and a comparison of the Slovak insurance industry with its regional counterparts.

It provides key performance indicators such as written premium, incurred loss, loss ratio, commissions and expenses, total assets, total investment income and retentions during the review period (2011–2015) and forecast period (2015–2020).

The report also analyzes distribution channels operating in the segment, gives a comprehensive overview of the Slovak economy and demographics, and provides detailed information on the competitive landscape in the country.

The report brings together Timetric’s research, modeling and analysis expertise, giving insurers access to information on segment dynamics and competitive advantages, and profiles of insurers operating in the country. The report also includes details of insurance regulations, and recent changes in the regulatory structure.

Summary
Timetric’s 'Life Insurance in Slovakia Key Trends and Opportunities to 2020' report provides in-depth market analysis, information and insights into the Slovak life insurance segment, including:

- An overview of the Slovak life insurance segment

- The Slovak life insurance segment’s growth prospects by category

- A comprehensive overview of the Slovak economy and demographics

- A comparison of the Slovak life insurance segment with its regional counterparts

- The various distribution channels in the Slovak life insurance segment

- Details of the competitive landscape in the life insurance segment in Slovakia

- Details of regulatory policy applicable to the Slovak insurance industry

Scope
This report provides a comprehensive analysis of the life insurance segment in Slovakia:

- It provides historical values for the Slovak life insurance segment for the report’s 2011–2015 review period, and projected figures for the 2015–2020 forecast period.

- It offers a detailed analysis of the key categories in the Slovak life insurance segment, and market forecasts to 2020.

- It provides a comparison of the Slovak life insurance segment with its regional counterparts

- It analyzes the various distribution channels for life insurance products in Slovakia.

- It profiles the top life insurance companies in Slovakia and outlines the key regulations affecting them.

Reasons To Buy
- Make strategic business decisions using in-depth historic and forecast market data related to the Slovak life insurance segment, and each category within it.

- Understand the demand-side dynamics, key market trends and growth opportunities in the Slovak life insurance segment.

- Assess the competitive dynamics in the life insurance segment.

- Identify growth opportunities and market dynamics in key product categories.

- Gain insights into key regulations governing the Slovak insurance industry, and their impact on companies and the industry's future.

Key Highlights
- The Slovak insurance industry is relatively stable compared to other EU countries, due to its healthy capital position.

- The life insurance segment accounted for 52.2% of the industry’s gross written premium in 2015.

- Life insurers in Slovakia face challenges from the switching of polices by the financial advisors to earn more commission and the short maturity time of new contracts.

- The 10 leading life insurers accounted for 88.3% of the segment’s gross written premium in 2015.

- Single-premium products are gaining popularity, as insurers have positioned such products as an alternative investment option to bank saving.

- The country’s aging population and consumer preference towards investment products will drive the growth of the life segment over the forecast period.

Table Of Contents

Life Insurance in Slovakia, Key Trends and Opportunities to 2020
Table of Contents
1 Key Facts and Highlights
2 Executive Summary
3 Economy and Demographics
4 Segment Outlook
4.1 Regional Comparison
4.2 Segment Indicators
4.2.1 Gross written premium and penetration
4.2.2 Policies sold
4.2.3 Claims
4.2.4 Assets and investments
5 Outlook by Sub-Segment
5.1 Individual Life Insurance
5.1.1 Premium
5.1.2 Policies sold
5.1.3 Penetration
6 Distribution Channel Outlook
6.1 Analysis by Distribution Channel
6.1.1 Brokers
6.1.2 Agencies
6.1.3 Direct marketing
7 Natural Hazards
7.1 Flooding
7.2 Extreme Temperature
7.3 Wildfires
7.4 Exposure
8 Competitive Landscape
8.1 Company Profiles
8.1.1 Allianz-Slovenská Pois?ov?a AS - company overview
8.1.2 Kooperativa Pois?ov?a, AS, VIG - company Overview
8.1.3 MetLife Amslico pois?ov?a AS - company overview
8.1.4 Komunálna Pois?ov?a AS, VIG - company overview
8.1.5 Pois?ov?a Slovenskej sporite?ne, AS, VIG - company Overview
9 Governance, Risk and Compliance
9.1 Legislation Overview and Historical Evolution
9.2 Latest Changes in Regulation
9.3 Legislation and Market Practice by Type of Insurance
9.3.1 Life insurance
9.3.2 Property insurance
9.3.3 Motor insurance
9.3.4 Liability insurance
9.3.5 Marine, aviation and transit insurance
9.3.6 Personal accident and health insurance
9.4 Compulsory Insurance
9.4.1 Motor third party liability insurance
9.4.2 Air carriers and aircraft liability insurance
9.4.3 Social insurance system
9.4.4 Professional indemnity insurance for alternative investment fund managers
9.4.5 Liability for ships with respect to oil pollution
9.5 Supervision and Control
9.5.1 International Association of Insurance Supervisors
9.5.2 European Insurance and Occupational Pensions Authority (EIOPA)
9.5.3 European Insurance and Occupational Pensions Authority (EIOPA)
9.5.4 Federation of European Risk Management Associations
9.5.5 Slovak Insurance Association
9.6 Non-Admitted Insurance Regulation
9.6.1 Overview
9.6.2 Intermediaries
9.6.3 Market practices
9.6.4 Fines and Penalties
9.7 Company Registration and Operations
9.7.1 Type of insurance organization
9.7.2 Establishing a local company
9.7.3 Foreign ownership
9.7.4 Types of license
9.7.5 Capital requirements
9.7.6 Solvency margin
9.7.7 Reserve requirements
9.7.8 Investment regulations
9.7.9 Statutory return requirements
9.7.10 Fee structure
9.8 Taxation
9.8.1 Insurance premium or policy taxation
9.8.2 Withholding taxes on premium paid overseas
9.8.3 Corporate tax
9.8.4 VAT
9.8.5 Captives
9.9 Legal System
9.9.1 Introduction
9.9.2 Access to court
9.9.3 Alternative dispute resolution (ADR)
10 Databook
10.1 Policies and Premium
10.2 Claims and Expenses
10.3 Assets and Investments
10.4 Direct Marketing and E-Commerce
10.5 Insurance Brokers and Agencies
10.6 Individual Life Insurance
10.7 Individual Life Insurance by Product
10.8 Individual Life - Single vs. Non-Single Premium
10.9 Linked vs. Non-Linked Poicies
11 Definitions and Methodology
11.1 Definitions
11.2 Methodology
12 About Timetric
12.1 Contact Timetric
12.2 About Timetric
12.3 Timetric's Services
12.4 Disclaimer

List of Tables
Table 1: Slovak Life Insurance - Key Facts, 2015
Table 2: Slovak Life Insurance - Segment Shares of the Top Insurers, 2015
Table 3: Slovak Government Credit Ratings
Table 4: Slovak Life Insurance - Gross Written Premium (EUR Billion and US$ Billion), 2011-2015
Table 5: Slovak Life Insurance - Penetration (%), 2011-2015
Table 6: Slovak Life Insurance - Gross Written Premium (EUR Billion and US$ Billion), 2015-2020
Table 7: Slovak Life Insurance - Penetration (%), 2015-2020
Table 8: Slovak Life Insurance - New Business Direct Written Premium (EUR Million and US$ Million), 2011-2015
Table 9: Slovak Life Insurance - New Business Direct Written Premium (EUR Million and US$ Million), 2015-2020
Table 10: Slovak Life Insurance - Premium per Capita (EUR and US$), 2011-2015
Table 11: Slovak Life Insurance - Premium per Capita (EUR and US$), 2015-2020
Table 12: Slovak Life Insurance - Number of Policies Sold (Thousand), 2011-2015
Table 13: Slovak Life Insurance - Number of Policies Sold (Thousand), 2015-2020
Table 14: Slovak Life Insurance - Paid Claims (EUR Million and US$ Million), 2011-2015
Table 15: Slovak Life Insurance - Paid Claims (EUR Million and US$ Million), 2015-2020
Table 16: Slovak Life Insurance - Total Assets (EUR Billion and US$ Billion), 2011-2015
Table 17: Slovak Life Insurance - Total Assets (EUR Billion and US$ Billion), 2015-2020
Table 18: Slovak Life Insurance - Investment Portfolio (EUR Billion), 2011-2015
Table 19: Slovak Life Insurance - Investment Portfolio (EUR Billion), 2015-2020
Table 20: Slovak Individual Life Insurance - Direct Written Premium by Category (EUR Million), 2011-2015
Table 21: Slovak Individual Life Insurance - Direct Written Premium by Category (EUR Million), 2015-2020
Table 22: Slovak Individual Life Insurance - Number of Policies Sold by Category (Thousand), 2011-2015
Table 23: Slovak Individual Life Insurance - Number of Policies Sold by Category (Thousand), 2015-2020
Table 24: Slovak Life Insurance - Direct Written Premium by Distribution Channel (EUR Million), 2011-2015
Table 25: Slovak Life Insurance - Direct Written Premium by Distribution Channel (EUR Million), 2015-2020
Table 26: Slovak Life Insurance - Percentage of Direct Written Premium Ceded, by Distribution Channel, 2011-2020
Table 27: Slovakia Average Annual Loss by Hazard
Table 28: Slovak Insurance Industry - Market Shares of Leading Insurers (%), 2015
Table 29: Allianz-Slovenská Pois?ov?a - Key Facts
Table 30: Kooperativa Pois?ov?a - Key Facts
Table 31: MetLife Amslico pois?ov?a - Key Facts
Table 32: Komunálna Pois?ov?a - Key Facts
Table 33: Pois?ov?a Slovenskej sporite?ne - Key Facts
Table 34: Slovakia - Insurance Regulatory Framework Key Features
Table 35: Slovakia- Life Insurance Regulatory Framework
Table 36: Slovakia - Property Insurance Regulatory Framework
Table 37: Slovakia - Motor Insurance Regulatory Framework
Table 38: Slovakia - Liability Insurance Regulatory Framework
Table 39: Slovakia - Minimum Cover for Aircraft Third-Party Liability per Accident per Aircraft
Table 40: Slovakia - Authorization Fee of Insurance and Reinsurance Companies
Table 41: Slovakia - Corporate Tax Rates for the Financial Year 2016
Table 42: Slovak Life Insurance - Policies and Premium, 2011-2015
Table 43: Slovak Life Insurance - Policies and Premium, 2015-2020
Table 44: Slovak Life Insurance - Claims and Expenses, 2011-2015
Table 45: Slovak Life Insurance - Claims and Expenses, 2015-2020
Table 46: Slovak Life Insurance - Assets and Investments, 2011-2015
Table 47: Slovak Life Insurance - Assets and Investments, 2015-2020
Table 48: Slovak Life Insurance - Direct Marketing and E-Commerce, 2011-2015
Table 49: Slovak Life Insurance - Direct Marketing and E-Commerce, 2015-2020
Table 50: Slovak Life Insurance - Insurance Brokers and Agencies, 2011-2015
Table 51: Slovak Life Insurance - Insurance Brokers and Agencies, 2015-2020
Table 52: Slovak Life Insurance - Individual Life Insurance, 2011-2015
Table 53: Slovak Life Insurance - Individual Life Insurance, 2015-2020
Table 54: Slovak Life Insurance - Individual Life Insurance by Product, 2011-2015
Table 55: Slovak Life Insurance - Individual Life Insurance by Product, 2015-2020
Table 56: Slovak Life Insurance - Individual Life Insurance by Premium, 2011-2015
Table 57: Slovak Life Insurance - Individual Life Insurance by Premium, 2015-2020
Table 58: Slovak Life Insurance - Linked vs. Non-Linked Policies, 2011-2015
Table 59: Slovak Life Insurance - Linked vs. Non-Linked Policies, 2015-2020
Table 60: Insurance Industry Definitions


List of Figures
Figure 1: Slovak Real GDP (EUR Billion), 2011-2020
Figure 2: Slovak Consumer Price Inflation (%), 2011-2020
Figure 3: EUR - US$ Exchange Rate, 2011-2020
Figure 4: Slovak Unemployment Rate, 2011-2020
Figure 5: Slovak Population by Age Group, 1990-2025
Figure 6: Slovak Life Insurance Penetration - Regional Comparison (%), 2015
Figure 7: Slovak Insurance Segment Direct Written Premium Shares - Regional Comparison (%), 2015
Figure 8: Slovak Life Insurance - Gross Written Premium (EUR Billion), 2011-2020
Figure 9: Slovak Life Insurance - Penetration (%), 2011-2020
Figure 10: Slovak Life Insurance - New Business Direct Written Premium (EUR Billion), 2011-2020
Figure 11: Slovak Life Insurance - Premium per Capita (EUR), 2011-2020
Figure 12: Slovak Life Insurance - Number of Policies Sold (Thousand), 2011-2020
Figure 13: Slovak Life Insurance - Paid Claims (EUR Million), 2011-2020
Figure 14: Slovak Life Insurance - Total Assets (EUR Billion), 2011-2020
Figure 15: Slovak Life Insurance - Investment Portfolio (EUR Billion), 2011-2020
Figure 16: Slovak Individual Life Insurance - Direct Written Premium by Category (EUR Million), 2011-2020
Figure 17: Slovak Individual Life Insurance - Direct Written Premium Share by Category, 2011-2020
Figure 18: Slovak Individual Life Insurance - Direct Written Premium Dynamics by Category, 2011-2020
Figure 19: Slovak Individual Life Insurance - Number of Policies Sold by Category (Thousand), 2011-2020
Figure 20: Slovak Individual Life Insurance - Penetration (%), 2011-2015
Figure 21: Slovak Individual Life Insurance - Penetration (%), 2015-2020
Figure 22: Slovak Life Insurance - Direct Written Premium by Distribution Channel (%), 2011, 2015 and 2020
Figure 23: Slovak - Frequency of Hazards by Type, 1990-2014
Figure 24: Slovak Mortality by Hazards Type, 1990-2014
Figure 25: Slovak Economic Loss by Hazards Type, 1990-2014
Figure 26: Slovak Insurance Industry - Market Shares of Leading Insurers (%), 2015
Figure 27: Slovakia - Insurance Supervision and Control at Various Levels
Figure 28: Slovakia - Insurance Supervision and Control at Various Levels
Figure 29: Slovakia - Insurance Regulatory Frameworks for Company Registration and Operation

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