Slovenian insurers ended the first quarter of 2014 with GWP of EUR 558 million, 2.5% less than in the same period of 2013. Thus, the downward trend established last year continued. Paid claims also decreased by 5.4%, to EUR 330 million.Most of the market decrease came from the life insurance segment which saw a 6.4% shrinking in the GWP volume, to EUR 139 million, driven by the significant fall recorded by the GWP for Unit-Linked products.
Non-life insurance segment recorded a somehow stable evolution, with an only 1%. Motor insurance lines saw a 4% decrease in GWP, almost entirely driven by the almost 8% fall in the MTPL premiums volume. At the same time, the property insurance segment recorded a 4% increase in underwritings, gaining 1 pp extra market share, to about 15.5%. However, while on the motor segment Slovenian insurers also recorded a significant drop in paid claims (-9.5%), on the property segment claims went higher by more than 19%. Thus on the fire insurance line claims grew by about 57%, most probably following the weather related events recorded by the beginning of the summer.
TRIGLAV, MARIBOR and ADRIATIC SLOVENICA are the overall market leaders, with almost unchanged market shares as compared with the same period of 2013. The Top 3 rankings are the same also considering the life and non-life segments taken individually. Thus, TRIGLAV, MARIBOR and MODRA lead the life insurance market, although MODRA lost about 7pp of its market share. On the non-life side, the Top 3 companies are TRIGLAV, VZAJEMNA and ADRIATIC SLOVENICA, all three of them with unchanged market shares.
Access www.xprimm.com and download the 1Q2014 Slovenian insurance market statistics.
Market portfolio:
- Gross written premiums
- Paid claims
- Growth rates
- Total market ranking
- Life insurance ranking
- Non-life insurance ranking
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