Slovakia Insurance Report Q4 2016

Date: August 17, 2016
Pages: 70
US$ 1,295.00
Report type: Strategic Report
Delivery: E-mail Delivery (PDF)

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Includes 3 FREE quarterly updates

BMI View: Although a relatively small market when measured by the total volume of premiums written, Slovakia's insurance sector is one of the most positive growth prospects in the Central and Eastern Europe region. Premiums in both the life and non-life sectors are rising rapidly, supported by household income growth and the increasing availability of disposable income. The market is, however, vulnerable to regional economic decline, particularly weakness throughout the eurozone, and currency movements will continue to impact upon premium growth projections.

Key Updates And Forecasts
  • Slovakia continues to update the regulatory environment surrounding health insurance. The finance ministry is reportedly considering introducing a new tax on dividends of 15%, which would replace the 14% health insurance payments which currently apply.
  • Life insurance accounts for a slightly larger share of the market and premiums are expected to record continued growth, rising by 3.1% in 2016 (in local currency terms) to reach EUR1.3bn (USD1.4bn).
  • The smaller non-life sector will also see positive growth, with premiums rising 1.1% in 2016 to reach EUR0.9bn (USD1.0bn). Basic lines such as motor insurance will continue to lead the non-life market, though competition will keep a downwards pressure on pricing.
BMI Industry View
  Table: Headline Insurance Forecasts (Slovakia 2013-2020)
Industry Forecast
Life Premiums Forecast
  Table: Life Premiums (Slovakia 2013-2020)
  Table: Life Insurance Claims (Slovakia 2008-2014)
Non-Life Premiums Forecast
  Table: Non-Life Premiums (Slovakia 2013-2020)
  Table: Non-Life Insurance Claims (Slovakia 2009-2014)
Non-Life Sub-Sector Forecast
  Table: Non-Life Insurance Premiums by Product Line (Slovakia 2013-2020)
Insurance Risk/Reward Index
Emerging Europe Risk/Reward Index
  Table: Emerging Europe Insurance Risk/Reward Index - Q416
Market Overview
Life Market Overview
The Product Offering
The Competitive Landscape
  Table: Life Insurance Market (USDmn) 2007-2014
Non-LIfe Market Overview
The Product Offering
The Competitive Landscape
  Table: Non-Life Insurance Market (USDmn) 2007-2014
Company Profile
Vienna Insurance Group (VIG)
Industry Forecast Methodology
Risk/Reward Index Methodology
  Table: Indicators
  Table: Weighting of Indicators
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