The increase in market shares in the Slovakian insurance market is based on organic growth.

  • Already more than 7% of the Group’s premiums come from Slovakia.
  • 6.9% of the Group’s profit is generated in Slovakia.
  • The Combined Ratio was well below 100% in 2007.

The Vienna Insurance Group is represented by three companies operating on the Slovakian insurance market: Kooperativa, Komunalna and Kontinuita.

Kooperativa poist’ovňa, a.s,
Since being founded in 1990, Kooperativa has operated in both the non-life insurance and life-insurance businesses. Kooperativa ranks second among insurance companies operating in Slovakia.

A nationwide network of branches, with more than 400 offices, guarantees good access to advice and support. More than 1,200 employees guarantee comprehensive services to their customers.

Kooperativa’s network encompasses a strong employee sales force. In addition, Kooperativa cooperates successfully with the largest Slovakian bank. A member of the Erste Bank Group, Slovenská sporitel’na serves more than 2.5 million customers in Slovakia. Furthermore, Kooperativa works in conjunction with numerous brokers.

Komunálna poist’ovňa, a.s., VIENNA INSURANCE GROUP
Komunálna, operating in both the non-life and life insurance segments, is 95.72% owned by Kooperativa. Dexia banka Slovensko, with which a distribution agreement exists, holds a 4.09% interest.

Almost 300 employees contributed to the success of Komunálna in 2007. In its 47 offices, Komunálna is primarily engaged in the sale of motor vehicle insurance, specializing in covering the insurance requirements of local authorities and corporations. From numerous cooperation agreements with car dealers and garages, customers further benefit from favourable terms and conditions and from faster processing in the event of loss.

Komunálna has also been very successful in the life insurance area with a new product on the Slovakian market. “Školák”, a life insurance policy for 3- to 15-year-old children, offers comprehensive protection for minimal premiums, with a 5-year time limit.

Kontinuita poist’ovňa, a.s., VIENNA INSURANCE GROUP
The third member of the Vienna Insurance Group is Kontinuita, which has operated successfully in the Slovakian life insurance market for more than 10 years.

Kontinuita is represented throughout Slovakia by over 50 offices and approximately 230 employees. Sales of life insurance products are sold through brokers and multi-level marketing, but also through the sales force in the field. Kontinuita is benefiting most of all from the growing awareness among Slovakians of the need to make private pension arrangements for old age. In this area, Kontinuita scored points in 2007 primarily with the index-linked life insurance product “Family Garant.”

Audited information