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Slovakia Insurance Report Q3 2008
Business Monitor International, Sep 2008, Pages: 75
In Q308, the key change is that we have incorporated much more information about the companies that are operating across the regions of which each country is a part. We have sought to make it much clearer who is operating in each country and under what name(s).Perhaps equally importantly, our profiles make it plain which multi-national companies are not operating in each country.
In Central and Eastern Europe, we profile 22 multi-national insurance companies. In alphabetical order, these are AEGON, AIG, Allianz, Aviva, AXA, Cardif,ERGO, Eureko, Fortis, Generali, GRAWE, Groupama, HDI-Gerling, HSBC Insurance, ING, MetLife, Prudential Financial, QBE, RSA, UNIQA,Vienna Insurance Group and Zurich Financial Services.
We also discuss the regional presence of Belgium’s KBC and Austria’s Erste Bank through a number of insurance subsidiaries and explain the importance, for each of the various countries, of purely domestic firms.
For almost all the countries whose reports we are updating, we are also able to include actual data for calendar-year 2007: this was not the case for our Q208 reports. In 2007, total premiums in Slovakia rose by 7% to SKK57,680mn. Non-life premiums rose by 2% to SKK28,860mn, while Life premiums rose by 13% to SKK28,820mn.Between now and the end of the forecast period, we expect that annual non-life premiums will grow by SKK46,372mn, while annual life premiums should increase by SKK22,242mn.Growth in non-life premiums should be driven by the general growth in nominal GDP plus a rise in non-life penetration from the current level of 1.59% to 2.80%. Growth in life premiums should be driven by the change in the overall population and a rise in life density from US$210.62 to US$400.00 per capita. Insurance Business Environment Rating is 61.9.
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