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Published: Nov, 2016 | Pages:
135 | Publisher: Timetric
Industry: Insurance | Report Format: Electronic (PDF)
Synopsis
Timetric's 'Non-Life Insurance in Slovakia Key Trends and Opportunities to 2020' report provides a detailed outlook by product category for the Slovak non-life insurance segment, and a comparison of the Slovak insurance industry with its regional counterparts. It provides values for key performance indicators such as written premium, incurred loss, loss ratio, commissions and expenses, combined ratio, 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, explains the various types of natural hazard and their impact on the Slovak insurance industry, 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 'Non-Life Insurance in Slovakia Key Trends and Opportunities to 2020' report provides in-depth market analysis, information and insights into the Slovak non-life insurance segment, including: • The Slovak non-life segment's detailed outlook by product category • A comprehensive overview of the Slovak economy and demographics • A comparison of the Slovak non-life insurance segment with its regional counterparts • The various distribution channels in the Slovak non-life insurance segment • Detailed analysis of natural hazards and their impact on the Slovak insurance industry • Details of the competitive landscape in the non-life insurance segment in Slovakia • Details of regulatory policy applicable to the Slovak insurance industry
Scope
This report provides a comprehensive analysis of the non-life insurance segment in Slovakia: • It provides historical values for the Slovak non-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 non-life insurance segment, and market forecasts to 2020. • It provides a comparison of the Slovak non-life insurance segment with its regional counterparts • It analyzes the various distribution channels for non-life insurance products in Slovakia. • It analyzes various natural and man-made hazards and their impact on the Slovak insurance industry • It profiles the top non-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 non-life insurance segment, and each category within it. • Understand the demand-side dynamics, key market trends and growth opportunities in the Slovak non-life insurance segment. • Assess the competitive dynamics in the non-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 non-life segment accounted for 44.6% of the industry's gross written premium in 2015. • Slovak non-life insurance penetration decreased from 1.2% in 2011 to 1.1% in 2015. • The increase in fraudulent claims has limited insurers' profitability during the review period, and also increased the premium prices for other customers. • The increasing consumer awareness and the prevalence of a soft phase with stable premium rate supported the liability insurance to grow at a review-period CAGR of 3.6%. • The decrease in import and export values is expected to have a negative impact on the demand of marine, aviation and transit insurance over the forecast period. • Mandatory motor third-party insurance, stable economic growth, rising motor vehicle sales and growth in the automobile sector is expected to support the growth of the non-life segment over the forecast period.
Table of Contents
1 Key Facts and Highlights 2 Executive Summary 3 Economy and Demographics 4 Segment Outlook 4.1 Regional Comparison 4.2 Segment Indicators 4.2.1 Gross written premium and penetration 4.2.2 Policies sold 4.2.3 Claims 4.2.4 Profitability 4.2.5 Assets and investments 5 Outlook by Category 5.1 Property Insurance 5.1.1 Product overview 5.1.2 Premium 5.1.3 Policies sold 5.1.4 Claims 5.1.5 Profitability 5.2 Motor Insurance 5.2.1 Product overview 5.2.2 Premium 5.2.3 Policies sold 5.2.4 Claims 5.2.5 Profitability 5.3 Liability Insurance 5.3.1 Product overview 5.3.2 Premium 5.3.3 Policies sold 5.3.4 Claims 5.3.5 Profitability 5.4 Marine, Aviation and Transit Insurance 5.4.1 Product overview 5.4.2 Premium 5.4.3 Policies sold 5.4.4 Claims 5.4.5 Profitability 6 Distribution Channel Outlook 6.1 Analysis by Distribution Channel 6.1.1 Brokers 6.1.2 Agencies 6.1.3 Direct marketing 7 Natural Hazards 7.1 Flooding 7.2 Extreme Temperature 7.3 Wildfires 7.4 Exposure 8 Competitive Landscape 8.1 Company Profiles 8.1.1 Allianz-Slovenska Pois?ov?a, AS - company overview 8.1.2 Kooperativa Pois?ov?a, AS, VIG - company overview 8.1.3 Generali Pois?ov?a, AS - company overview 8.1.4 Uniqa Pois?ov?a, AS - company overview 8.1.5 Komunalna Pois?ov?a AS VIG - company overview 9 Governance, Risk and Compliance 9.1 Legislation Overview and Historical Evolution 9.2 Latest Changes in Regulation 9.3 Legislation and Market Practice by Type of Insurance 9.3.1 Life insurance 9.3.2 Property insurance 9.3.3 Motor insurance 9.3.4 Liability insurance 9.3.5 Marine, aviation and transit insurance 9.3.6 Personal accident and health insurance 9.4 Compulsory Insurance 9.4.1 Motor third party liability insurance 9.4.2 Air carriers and aircraft liability insurance 9.4.3 Social insurance system 9.4.4 Professional indemnity insurance for alternative investment fund managers 9.4.5 Liability for ships with respect to oil pollution 9.5 Supervision and Control 9.5.1 International Association of Insurance Supervisors 9.5.2 European Insurance and Occupational Pensions Authority (EIOPA) 9.5.3 European Insurance and Occupational Pensions Authority (EIOPA) 9.5.4 Federation of European Risk Management Associations 9.5.5 Slovak Insurance Association 9.6 Non-Admitted Insurance Regulation 9.6.1 Overview 9.6.2 Intermediaries 9.6.3 Market practices 9.6.4 Fines and Penalties 9.7 Company Registration and Operations 9.7.1 Type of insurance organization 9.7.2 Establishing a local company 9.7.3 Foreign ownership 9.7.4 Types of license 9.7.5 Capital requirements 9.7.6 Solvency margin 9.7.7 Reserve requirements 9.7.8 Investment regulations 9.7.9 Statutory return requirements 9.7.10 Fee structure 9.8 Taxation 9.8.1 Insurance premium or policy taxation 9.8.2 Withholding taxes on premium paid overseas 9.8.3 Corporate tax 9.8.4 VAT 9.8.5 Captives 9.9 Legal System 9.9.1 Introduction 9.9.2 Access to court 9.9.3 Alternative dispute resolution (ADR) 10 Databook 10.1 Policies and Premium 10.2 Claims and Expenses 10.3 Assets and Investments 10.4 Direct Marketing and E-Commerce 10.5 Insurance Brokers and Agencies 10.6 Property Insurance 10.7 Property Insurance by Product 10.8 Motor Insurance 10.9 Motor Insurance by Product 10.1 Liability Insurance 10.11 Marine, Aviation and Transit Insurance 11 Definitions and Methodology 11.1 Definitions 11.2 Methodology 12 About Timetric 12.1 Contact Timetric 12.2 About Timetric 12.3 Timetric's Services 12.4 Disclaimer
List of Figures
Table 1: Slovak Non-Life Insurance - Key Facts, 2014 Table 2: Slovak Non-Life Insurance - Segment Shares of the Top Insurers, 2015 Table 3: Slovak Government Credit Ratings Table 4: Slovak Non-Life Insurance - Gross Written Premium (EUR Million and US$ Billion), 2011-2015 Table 5: Slovak Non-Life Insurance - Penetration (%), 2011-2015 Table 6: Slovak Non-Life Insurance - Gross Written Premium (EUR Million and US$ Billion), 2015-2020 Table 7: Slovak Non-Life Insurance - Penetration (%), 2015-2020 Table 8: Slovak Non-Life Insurance - Premium per Capita (EUR and US$), 2011-2015 Table 9: Slovak Non-Life Insurance - Premium per Capita (EUR and US$), 2015-2020 Table 10: Slovak Non-Life Insurance - Number of Policies Sold (Thousand), 2011-2015 Table 11: Slovak Non-Life Insurance - Number of Policies Sold (Thousand), 2015-2020 Table 12: Slovak Non-Life Insurance - Paid Claims (EUR Million and US$ Million), 2011-2015 Table 13: Slovak Non-Life Insurance - Paid Claims (EUR Million and US$ Million), 2015-2020 Table 14: Slovak Non-Life Insurance - Profitability Ratio (%), 2011-2015 Table 15: Slovak Non-Life Insurance - Profitability Ratio (%), 2015-2020 Table 16: Slovak Non-Life Insurance - Total Assets (EUR Billion and US$ Billion), 2011-2015 Table 17: Slovak Non-Life Insurance - Total Assets (EUR Billion and US$ Billion), 2015-2020 Table 18: Slovak Non-Life Insurance - Investment Portfolio (EUR Billion), 2011-2015 Table 19: Slovak Non-Life Insurance - Investment Portfolio (EUR Billion), 2015-2020 Table 20: Slovak Non-Life Insurance - Direct Written Premium by Category (EUR Million),2011-2015 Table 21: Slovak Non-Life Insurance - Direct Written Premium by Category (EUR Million), 2015-2020 Table 22: Slovakia - Damages Caused by Criminality, (EUR Million) 2011 -2014 Table 23: Slovakia - Number of Fire Event, 2011-2014 Table 24: Slovak Property Insurance - Direct Written Premium by Sub-Category (EUR Million), 2011-2015 Table 25: Slovak Property Insurance - Direct Written Premium by Sub-Category (EUR Million), 2015-2020 Table 26: Slovak Property Insurance - Number of Policies Sold by Sub-Category (Thousand), 2011-2015 Table 27: Slovak Property Insurance - Number of Policies Sold by Sub-Category (Thousand), 2015-2020 Table 28: Slovak Property Insurance - Paid Claims (EUR Million and US$ Million), 2011-2015 Table 29: Slovak Property Insurance - Paid Claims (EUR Million and US$ Million), 2015-2020 Table 30: Slovak Property Insurance - Loss Ratio (%), 2011-2015 Table 31: Slovak Property Insurance - Loss Ratio (%), 2015-2020 Table 32: Slovakia - Number of Traffic Accidents, 2010-2014 Table 33: Slovak Motor Insurance - Direct Written Premium by Sub-Category (EUR Million), 2011-2015 Table 34: Slovak Motor Insurance - Direct Written Premium by Sub-Category (EUR Billion), 2015-2020 Table 35: Slovak Motor Insurance - Number of Policies Sold by Sub-Category (Thousand), 2011-2015 Table 36: Slovak Motor Insurance - Number of Policies Sold by Sub-Category (Thousand), 2015-2020 Table 37: Slovak Motor Insurance - Paid Claims (EUR Million and US$ Million), 2011-2015 Table 38: Slovak Motor Insurance - Paid Claims (EUR Million and US$ Million), 2015-2020 Table 39: Slovak Motor Insurance - Loss Ratio (%), 2011-2015 Table 40: Slovak Motor Insurance - Loss Ratio (%), 2015-2020 Table 41: Slovak Liability Insurance - Direct Written Premium by Sub-Category (EUR Million), 2011-2015 Table 42: Slovak Liability Insurance - Direct Written Premium by Sub-Category (EUR Million), 2015-2020 Table 43: Slovak Liability Insurance - Number of Policies Sold (Thousand), 2011-2015 Table 44: Slovak Liability Insurance - Number of Policies Sold (Thousand), 2015-2020 Table 45: Slovak Liability Insurance - Paid Claims (EUR Million and US$ Million), 2011-2015 Table 46: Slovak Liability Insurance - Paid Claims (EUR Million and US$ Million), 2015-2020 Table 47: Slovak Liability Insurance - Loss Ratio (%), 2011-2015 Table 48: Slovak Liability Insurance - Loss Ratio (%), 2015-2020 Table 49: Slovakia - Registered Vessel, 2011-2014 Table 50: Slovakia - Registered Vessel, 2011-2014 Table 51: Slovakia - Registered Civil Planes, 2011-2014 Table 52: Slovakia - Freight Transportation Statistics, (Thousand Tons) 2011-2014 Table 53: Slovak Marine, Aviation and Transit Insurance - Direct Written Premium by Sub-Category (EUR Million), 2011-2015 Table 54: Slovak Marine, Aviation and Transit Insurance - Direct Written Premium by Sub-Category (EUR Million), 2015-2020 Table 55: Slovak Marine, Aviation and Transit Insurance - Number of Policies Sold (Thousand), 2011-2015 Table 56: Slovak Marine, Aviation and Transit Insurance - Number of Policies Sold (Thousand), 2015-2020 Table 57: Slovak Marine, Aviation and Transit Insurance - Paid Claims (EUR Million and US$ Million), 2011-2015 Table 58: Slovak Marine, Aviation and Transit Insurance - Paid Claims (EUR Million and US$ Million), 2015-2020 Table 59: Slovak Marine, Aviation and Transit Insurance - Loss Ratio (%), 2011-2015 Table 60: Slovak Marine, Aviation and Transit Insurance - Loss Ratio (%), 2015-2020 Table 61: Slovak Non-Life Insurance - Direct Written Premium by Distribution Channel (EUR Million), 2011-2015 Table 62: Slovak Non-Life Insurance - Direct Written Premium by Distribution Channel (EUR Million), 2015-2020 Table 63: Slovak Non-Life Insurance - Percentage of Direct Written Premium Ceded, by Distribution Channel, 2011-2020 Table 64: Slovakia Average Annual Loss by Hazard Table 65: Slovak Insurance Industry - Market Shares of Leading Insurers (%), 2015 Table 66: Allianz-Slovenska Pois?ov?a, AS - Key Facts Table 67: Kooperativa Pois?ov?a, AS, VIG - Key Facts Table 68: Generali Pois?ov?a, AS - Key Facts Table 69: Uniqa Pois?ov?a, AS - Key Facts Table 70: Komunalna Pois?ov?a AS VIG - Key Facts Table 71: Slovakia - Insurance Regulatory Framework Key Features Table 72: Slovakia- Life Insurance Regulatory Framework Table 73: Slovakia - Property Insurance Regulatory Framework Table 74: Slovakia - Motor Insurance Regulatory Framework Table 75: Slovakia - Liability Insurance Regulatory Framework Table 76: Slovakia - Minimum Cover for Aircraft Third-Party Liability per Accident per Aircraft Table 77: Slovakia - Authorization Fee of Insurance and Reinsurance Companies Table 78: Slovakia - Corporate Tax Rates for the Financial Year 2016 Table 79: Slovak Insurance Industry - Policies and Premium, 2011-2015 Table 80: Slovak Insurance Industry - Policies and Premium, 2015-2020 Table 81: Slovak Non-Life Insurance - Claims and Expenses, 2011-2015 Table 82: Slovak Non-Life Insurance - Claims and Expenses, 2015-2020 Table 83: Slovak Non-Life Insurance - Assets and Investments, 2011-2015 Table84: Slovak Non-Life Insurance - Assets and Investments, 2015-2020 Table 85: Slovak Non-Life Insurance - Direct Marketing and E-Commerce, 2011-2015 Table 86: Slovak Non-Life Insurance - Direct Marketing and E-Commerce, 2015-2020 Table 87: Slovak Non-Life Insurance - Insurance Brokers and Agencies, 2011-2015 Table 88: Slovak Non-Life Insurance - Insurance Brokers and Agencies, 2015-2020 Table 89: Slovak Non-Life Insurance - Property Insurance, 2011-2015 Table 90: Slovak Non-Life Insurance - Property Insurance, 2015-2020 Table 91: Slovak Non-Life Insurance - Property Insurance by Product, 2011-2015 Table 92: Slovak Non-Life Insurance - Property Insurance by Product, 2015-2020 Table 93: Slovak Non-Life Insurance - Motor Insurance, 2011-2015 Table 94: Slovak Non-Life Insurance - Motor Insurance, 2015-2020 Table 95: Slovak Non-Life Insurance - Motor Insurance by Product, 2011-2015 Table 96: Slovak Non-Life Insurance - Motor Insurance by Product, 2015-2020 Table 97: Slovak Non-Life Insurance - Liability Insurance, 2011-2015 Table 98: Slovak Non-Life Insurance - Liability Insurance, 2015-2020 Table 99: Slovak Non-Life Insurance - Marine, Aviation and Transit Insurance, 2011-2015 Table 100: Slovak Non-Life Insurance - Marine, Aviation and Transit Insurance, 2015-2020 Table 101: Insurance Industry Definitions
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