New Report Available: Slovakia Insurance Report Q3 2013

From: Fast Market Research, Inc.
Published: Thu Jul 11 2013


Key Insights And Key Risks

By the standards of its peers in Central and Eastern Europe, Slovakia's insurance sector is a relatively small market opportunity that is not growing quickly. Given the strong growth in life insurance in Poland in H112, this is a fairly unexciting outcome.

Nevertheless, the results that were published by Vienna Insurance Group (VIG) and Allianz who, between them, account for about 60% of all premiums written in Slovakia, continue to highlight the clear strengths of the sector. In sharp contrast to most of Central and Eastern Europe, there has not been brutal competition in the markets for motor-related insurance (ie compulsory motorists' third party liability - CMTPL - and voluntary CASCO cover). The fact that life insurance premiums have been able to hold their own, at a time of very low interest rates and well publicised volatility in the eurozone's financial markets, suggests that the country's life insurers are providing attractive products to customers who remain convinced of the utility of life insurance. In non-life insurance operations, combined ratios remain fairly low.

Full Report Details at
- http://www.fastmr.com/prod/617119_slovakia_insurance_report_q3_2013.aspx?afid=303

What sets Slovakia apart from the other countries in the region is that both the non-life and the life segments are a lot less fragmented. Collectively, the multi-national insurers who account for almost all of the activity in the insurance sector deliver economies of scale (from their regional or global operations), innovative products, an understanding of distribution and, perhaps most importantly, pricing discipline. The structure and performance of Slovakia's insurance sector at the beginning of 2013 is a reminder that a wave of consolidation may yet take place in many of the other markets in Central and Eastern Europe.

Over recent years, non-life penetration has fallen, while life density has stagnated. We consider that there are good reasons to look for both of these key metrics to begin to rise once more in coming years.

About Fast Market Research

Fast Market Research is an online aggregator and distributor of market research and business information. We represent the world's top research publishers and analysts and provide quick and easy access to the best competitive intelligence available.

For more information about these or related research reports, please visit our website at http://www.fastmr.com or call us at 1.800.844.8156.

You may also be interested in these related reports:

- United States Insurance Report Q3 2013
- Mexico Insurance Report Q3 2013
- Canada Insurance Report Q3 2013
- Hungary Insurance Report Q3 2013
- Brazil Insurance Report Q3 2013

Company: Fast Market Research, Inc.
Contact Name: Bill Thompson
Contact Email: press@fastmr.com
Contact Phone: 1-413-485-7001

Visit website »