The Slovakian insurance market is dominated by two large players that account for more than half of the total premium volume in the country.
Premiums written rose slightly by 0.3% in 2012. In the non-life area, Slovakia recorded a drop of 1.6% during this period. This decline was due performance in the motor vehicle segment, where strong competition exists due to a large number of new entries into the market. As before, however, the demand for non-life insurance products outside of the motor vehicle segment remains high. Due to a wide range of attractive products, premiums rose by 1.9% in the life insurance segment.
Average per capita expenditures for insurance were EUR 388 in Slovakia in 2011, of which EUR 177 was for non-life insurance and EUR 211 for life insurance.