Slovakian Insurance Market

Enlarge image
Slovakian insurance market (charts)

In the Slovakian insurance market more premiums were generated in the life area than in the non-life area in 2010. The competitive situation is quite comparable to that in the Czech Republic. Market concentration is high – more than 60% of the premiums are attributable to the two largest insurance groups.

In Slovakia, the Vienna Insurance Group held its ground as market leader with a market share of 31.9%. In life insurance, the Group consolidated its market position and now holds a market share of 31.9%. Despite sharp declines in new car sales, VIG was able to secure its market leadership in the motor vehicle area and continues to be the clear number 1 in the Slovakian motor vehicle insurance market, with a market share of 39.0%.