Study Just Published: Slovenia Insurance Report Q1 2010

Jan. 15, 2010 - PRLog -- This report differs from its predecessors in several respects. In our analysis of competitive conditions, we provide a much more comprehensive ranking of insurance companies in the major segments from the point of view of the organisation that is providing the data (in practice almost always the national insurance regulator or the national insurance trade association). In Slovenia, for instance, the three largest non-life companies in the first half of 2009 - in terms of gross written premiums written - were Triglav, Vzajemna and Adriatic Slovenica, whose market shares were 39%, 16% and 15.5% respectively. In the life segment, the leaders in the first half of 2009 were Triglav, KAD and Maribor, whose market shares were 34.7%, 22.6% and 11% respectively. Over time, we hope to derive insights from observing how market shares change. We emphasise though, that a decline in share of Gross Written Premiums is not automatically a bad thing and is often the result of a deliberate corporate decision to focus on more profitable business lines. In this report, we also provide a breakdown of the insurance sector by line - from the point of view of the regulator or the trade association. In Slovenia, for instance, the largest non-life lines in 2008 were health, compulsory motor third party liability (CMTPL) and land vehicles voluntary insurance (CASCO). These accounted for 26%, 23% and 16.7%, respectively, of total non-life premiums. Over time, we should be able to use this information to bring greater sophistication to our forecasting process. Writing in November 2009, we have been able to ensure that the report includes actual data for 2008. We have generally been able to use data that has been published over the course of 2009 to adjust our forecasts for the year as a whole. We have also extended the forecasts out to 2014. We are looking for total premiums in 2009 of EUR2,214mn This includes non-life premiums of EUR1,543mn and life premiums of EUR671mn. In 2014, the corresponding figures should be EUR2,981mn, EUR2,088mn and EUR894mn. In terms of the key drivers that underpin our forecasts, we are looking for non-life penetration to rise from 4.30% in 2009 to 4.60% in 2014, and for life density to rise from USD430 to USD532. BMI's proprietary Insurance Business Environment Rating for Slovenia is 59.4. This quarter, we include a discussion of developments within regional markets - on the basis of results published by major cross-border companies in relation to Q209 or Q309 and the latest information provided by regulators and/or trade associations. Non-life segment gross written premiums are expected to slip slightly from EUR542.1mn in 2008 to EUR529.5mn. Trends in life insurance varied markedly from country to country round the region. Official figures showed small falls in Slovenia.

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Report Table of Contents:

Executive Summary
Table: Overview Of Slovenia’s Insurance Sector
- Key Insights On Slovenia’s Insurance Sector
- SWOT Analysis
- Slovenia Industry SWOT
- Slovenia Political SWOT
- Slovenia Economic SWOT
- Slovenia Business Environment SWOT
- Global Outlook
- Central And Eastern Europe Overview
Table: Gross Premiums Written In Selected Central And Eastern European Countries, 2008 And 2009
- Projections And Forecasts
Table: Premiums, 2005-2014
- Projections And Drivers Of Growth
Table: Growth Drivers, 2005-2014
- Country Update
- Macroeconomic Outlook
Table: Slovenia - Economic Activity, 2005-2014
- Domestic Politics
- Insurance Business Environment Rating
Table: Slovenia - Insurance Business Environment Indicators
Table: Central And Eastern Europe Insurance Business Environment Ratings
- Regional Context
Table: Non-Life Premiums In A Regional Context, 2008
Table: Life Premiums In A Regional Context, 2008
Table: Comparison Of Major Lines As % Of Non-Life Premiums, 2006
- Major Players In Slovenia’s Insurance Sector
Table : Principal Insurance Lines By Gross Written Premiums, H109 (EURmn)
Table: Insurance Companies By Gross Written Premiums, H109 (EURmn)
- Analysis Of Regional Competitive Conditions
- Local Company Profiles
- Adriatic Slovenica
- Maribor
- Triglav
- Regional Company Profiles
- Generali
- GRAWE
- Vienna Insurance Group
- Country Snapshot: Slovenia Demographic Data
- Section 1: Population
Table: Demographic Indicators, 2005-2030
Table: Rural/Urban Breakdown, 2005-2030
- Section 2: Education And Healthcare
Table: Education, 2002-2005
Table: Vital Statistics, 2005-2030
- Section 3: Labour Market And Spending Power
Table: Employment Indicators, 2001-2006
Table: Consumer Expenditure, 2000-2012 (US$)
Table: Average Annual Wages, 2000-2012
- Methodology
- Insurance Business Environment Ratings
Table: Insurance Business Environment Indicators And Rationale
Table: Weighting Of Indicators

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