Market Research Logo

Life Insurance in Slovakia, Key Trends and Opportunities to 2020

Life Insurance in Slovakia, Key Trends and Opportunities to 2020

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.


  • Key Facts and Highlights
    • Table Slovak Life Insurance - Key Facts, 2015
    • Table Slovak Life Insurance - Segment Shares of the Top Insurers, 2015
  • Executive Summary
  • Economy and Demographics
    • Table Slovak Government Credit Ratings
  • Segment Outlook
    • Regional Comparison
    • Segment Indicators
      • Gross written premium and penetration
        • Table Slovak Life Insurance - Gross Written Premium (EUR Billion and US$ Billion), 2011-2015
        • Table Slovak Life Insurance - Penetration (%), 2011-2015
        • Table Slovak Life Insurance - Gross Written Premium (EUR Billion and US$ Billion), 2015-2020
        • Table Slovak Life Insurance - Penetration (%), 2015-2020
        • Table Slovak Life Insurance - New Business Direct Written Premium (EUR Million and US$ Million), 2011-2015
        • Table Slovak Life Insurance - New Business Direct Written Premium (EUR Million and US$ Million), 2015-2020
        • Table Slovak Life Insurance - Premium per Capita (EUR and US$), 2011-2015
        • Table Slovak Life Insurance - Premium per Capita (EUR and US$), 2015-2020
      • Policies sold
        • Table Slovak Life Insurance - Number of Policies Sold (Thousand), 2011-2015
        • Table Slovak Life Insurance - Number of Policies Sold (Thousand), 2015-2020
      • Claims
        • Table Slovak Life Insurance - Paid Claims (EUR Million and US$ Million), 2011-2015
        • Table Slovak Life Insurance - Paid Claims (EUR Million and US$ Million), 2015-2020
      • Assets and investments
        • Table Slovak Life Insurance - Total Assets (EUR Billion and US$ Billion), 2011-2015
        • Table Slovak Life Insurance - Total Assets (EUR Billion and US$ Billion), 2015-2020
        • Table Slovak Life Insurance - Investment Portfolio (EUR Billion), 2011-2015
        • Table Slovak Life Insurance - Investment Portfolio (EUR Billion), 2015-2020
  • Outlook by Sub-Segment
    • Individual Life Insurance
      • Premium
        • Table Slovak Individual Life Insurance - Direct Written Premium by Category (EUR Million), 2011-2015
        • Table Slovak Individual Life Insurance - Direct Written Premium by Category (EUR Million), 2015-2020
      • Policies sold
        • Table Slovak Individual Life Insurance - Number of Policies Sold by Category (Thousand), 2011-2015
        • Table Slovak Individual Life Insurance - Number of Policies Sold by Category (Thousand), 2015-2020
      • Penetration
  • Distribution Channel Outlook
    • Analysis by Distribution Channel
      • Table Slovak Life Insurance - Direct Written Premium by Distribution Channel (EUR Million), 2011-2015
      • Table Slovak Life Insurance - Direct Written Premium by Distribution Channel (EUR Million), 2015-2020
      • Table Slovak Life Insurance - Percentage of Direct Written Premium Ceded, by Distribution Channel, 2011-2020
      • Brokers
      • Agencies
      • Direct marketing
  • Natural Hazards
    • Table Slovakia Average Annual Loss by Hazard
    • Flooding
    • Extreme Temperature
    • Wildfires
    • Exposure
  • Competitive Landscape
    • Table Slovak Insurance Industry - Market Shares of Leading Insurers (%), 2015
    • Company Profiles
      • Allianz-Slovenská Poisovòa AS - company overview
        • Table Allianz-Slovenská Poisovòa - Key Facts
      • Kooperativa Poisovòa, AS, VIG - company Overview
        • Table Kooperativa Poisovòa - Key Facts
      • MetLife Amslico poisovòa AS - company overview
        • Table MetLife Amslico poisovòa - Key Facts
      • Komunálna Poisovòa AS, VIG - company overview
        • Table Komunálna Poisovòa - Key Facts
      • Poisovòa Slovenskej sporite¾ne, AS, VIG - company Overview
        • Table Poisovòa Slovenskej sporite¾ne - Key Facts
  • Governance, Risk and Compliance
    • Table Slovakia - Insurance Regulatory Framework Key Features
    • Legislation Overview and Historical Evolution
    • Latest Changes in Regulation
    • Legislation and Market Practice by Type of Insurance
      • Life insurance
        • Table Slovakia- Life Insurance Regulatory Framework
      • Property insurance
        • Table Slovakia - Property Insurance Regulatory Framework
      • Motor insurance
        • Table Slovakia - Motor Insurance Regulatory Framework
      • Liability insurance
        • Table Slovakia - Liability Insurance Regulatory Framework
      • Marine, aviation and transit insurance
      • Personal accident and health insurance
    • Compulsory Insurance
      • Motor third party liability insurance
      • Air carriers and aircraft liability insurance
        • Table Slovakia - Minimum Cover for Aircraft Third-Party Liability per Accident per Aircraft
      • Social insurance system
      • Professional indemnity insurance for alternative investment fund managers
      • Liability for ships with respect to oil pollution
    • Supervision and Control
      • International Association of Insurance Supervisors
      • European Insurance and Occupational Pensions Authority (EIOPA)
      • Federation of European Risk Management Associations
      • Slovak Insurance Association
    • Non-Admitted Insurance Regulation
      • Overview
      • Intermediaries
      • Market practices
      • Fines and Penalties
    • Company Registration and Operations
      • Type of insurance organization
      • Establishing a local company
      • Foreign ownership
      • Types of license
      • Capital requirements
      • Solvency margin
      • Reserve requirements
      • Investment regulations
      • Statutory return requirements
      • Fee structure
        • Table Slovakia - Authorization Fee of Insurance and Reinsurance Companies
    • Taxation
      • Insurance premium or policy taxation
      • Withholding taxes on premium paid overseas
      • Corporate tax
        • Table Slovakia - Corporate Tax Rates for the Financial Year 2016
      • VAT
      • Captives
    • Legal System
      • Introduction
      • Access to court
      • Alternative dispute resolution (ADR)
  • Databook
    • Policies and Premium
      • Table Slovak Life Insurance - Policies and Premium, 2011-2015
      • Table Slovak Life Insurance - Policies and Premium, 2015-2020
    • Claims and Expenses
      • Table Slovak Life Insurance - Claims and Expenses, 2011-2015
      • Table Slovak Life Insurance - Claims and Expenses, 2015-2020
    • Assets and Investments
      • Table Slovak Life Insurance - Assets and Investments, 2011-2015
      • Table Slovak Life Insurance - Assets and Investments, 2015-2020
    • Direct Marketing and E-Commerce
      • Table Slovak Life Insurance - Direct Marketing and E-Commerce, 2011-2015
      • Table Slovak Life Insurance - Direct Marketing and E-Commerce, 2015-2020
    • Insurance Brokers and Agencies
      • Table Slovak Life Insurance - Insurance Brokers and Agencies, 2011-2015
      • Table Slovak Life Insurance - Insurance Brokers and Agencies, 2015-2020
    • Individual Life Insurance
      • Table Slovak Life Insurance - Individual Life Insurance, 2011-2015
      • Table Slovak Life Insurance - Individual Life Insurance, 2015-2020
    • Individual Life Insurance by Product
      • Table Slovak Life Insurance - Individual Life Insurance by Product, 2011-2015
      • Table Slovak Life Insurance - Individual Life Insurance by Product, 2015-2020
    • Individual Life - Single vs. Non-Single Premium
      • Table Slovak Life Insurance - Individual Life Insurance by Premium, 2011-2015
      • Table Slovak Life Insurance - Individual Life Insurance by Premium, 2015-2020
    • Linked vs. Non-Linked Poicies
      • Table Slovak Life Insurance - Linked vs. Non-Linked Policies, 2011-2015
      • Table Slovak Life Insurance - Linked vs. Non-Linked Policies, 2015-2020
  • Definitions and Methodology
    • Definitions
      • Table Insurance Industry Definitions
    • Methodology
  • About Timetric
    • Contact Timetric
    • About Timetric
    • Timetric's Services
    • Disclaimer

Download our eBook: How to Succeed Using Market Research

Learn how to effectively navigate the market research process to help guide your organization on the journey to success.

Download eBook

Share this report