Slovakia Insurance Industry – Key Trends and Opportunities to 2028
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Slovakia Insurance Market Report Overview
The gross written premium of the Slovakia insurance market was EUR1.8 billion ($1.9 billion) in 2023. The market is expected to achieve a CAGR of more than 4% during 2024-2028. The Slovakia insurance market research report provides in-depth market analysis, information, and insights into the Slovakia insurance industry. It provides a detailed outlook by product category as well as values for key performance indicators such as gross written premium, penetration, premium accepted and ceded, profitability ratios, and premium by line of business, during the review and forecast periods.
Slovakia Insurance Market Outlook, 2023-2028 (EUR Billion)
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The Slovakia insurance market report also gives a comprehensive overview of the Slovakia economy and demographics. It further evaluates the competitive landscape, which entails information on segment dynamics, 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.
Market Size (2023) | EUR1.8 billion ($1.9 billion) |
CAGR (2024-2028) | >4% |
Forecast Period | 2024-2028 |
Historical Period | 2019-2023 |
Key Segments | · General Insurance
· Life Insurance |
Key Companies | · Kooperativa
· Allianz · Union · NOVIS · Komunalna |
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Slovakia Insurance Market Trends
The key trends impacting the Slovakia insurance market are travel insurance, digitalization, and insurance policy. In October 2023, UNIQA introduced a new measure valid for ‘UNIQA travel Insurance’, which established a policy for cancellation fees. It offers group tours with travel companies and individual travelers to Israel from Slovakia and the Czech Republic, which will be valid for travel until the end of October 2023. The recent events in Israel may raise concerns about travel safety, and as a result, UNIQA has taken steps to assist the clients during this difficult period.
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Slovakia Insurance Market by Segments
The key segments in the Slovakia insurance market are life insurance and general insurance. The general insurance segment dominated the Slovakia insurance market in 2023. The key lines of business in the Slovakia general insurance market are property, motor, liability, financial lines, MAT, and general insurance PA&H. Motor insurance was the dominant line of business in 2023.
Slovakia Insurance Market Analysis by Segments, 2023 (%)
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Slovakia Insurance Market – Competitive Landscape
In 2022, Kooperativa accounted for the highest market share in the Slovakia life insurance market
A few of the key companies in the Slovakia insurance market are:
- Kooperativa
- Allianz
- Union
- NOVIS
- Komunalna
Slovakia Life Insurance Market Analysis by Companies, 2022(%)
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Slovakia Insurance Market – Latest Developments
- On January 1, 2023, the law stipulating amendments to the transfer pricing rules entered into force, which was signed by the President on December 20, 2022.
- On December 2, 2022, the Financial Action Task Force published a report evaluating the Slovak Republic’s progress in executing the anti-money laundering and countering terrorist financing measures.
Segments Covered in the Report
Slovakia Insurance Market Segments Outlook (Value, EUR Billion, 2019-2028)
- Life Insurance
- General Insurance
Scope
This report provides a comprehensive analysis of the Slovakia insurance industry through the following:
- Historical values for the Slovakia insurance industry for the review period, 2019-2023, and projected figures for the forecast period, 2024-2028.
- A detailed analysis of the key categories in the Slovakia insurance industry and market forecasts up to 2028.
- Profiles of the top life insurance companies in Slovakia and outlines the key regulations affecting them.
Key Highlights
- Key insights and dynamics of the Slovakia insurance industry.
- A comprehensive overview of the Slovakia economy, government initiatives, and investment opportunities.
- The Slovakia insurance regulatory framework’s evolution, key facts, taxation regime, licensing, and capital requirements.
- The Slovakia insurance industry’s market structure gives details of lines of business.
- Slovakia’s reinsurance business’s market structure gives details of premium ceded along with cession rates.
Reasons to Buy
- Make strategic business decisions using in-depth historical and forecast market data related to the Slovakia insurance industry, and each category within it.
- Understand the demand-side dynamics, key market trends, and growth opportunities in the Slovakia insurance industry.
- Assess the competitive dynamics in the Slovakia insurance industry.
- Identify growth opportunities and market dynamics in key product categories.
Kooperativa Poistovna
NN Zivotna
Union
CSOB
Komunalna
Wustenrot
NOVIS
Table of Contents
Frequently asked questions
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What was the Slovakia insurance market gross written premium in 2023?
The gross written premium of the Slovakia insurance market was EUR1.8 billion ($1.9 billion) in 2023.
-
What will the growth rate of the Slovakia insurance market be during the forecast period?
The insurance market in Slovakia is expected to achieve a CAGR of more than 4% during 2024-2028.
-
Which segment dominated the Slovakia insurance market in 2023?
The general insurance segment dominated the Slovakia insurance market in 2023.
-
Which are the major companies operating in the Slovakia insurance market?
A few of the key companies in the Slovakia insurance market are Kooperativa, Allianz, Union, NOVIS, and Komunalna.
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