New market study, "Slovenia Insurance Report Q3 2010", has been published

June 7, 2010 - PRLog -- Writing in April 2010, we have been able to ensure that the report includes actual data for 2008. We have generally been able to use data published in 2009 to adjust our figures for the year as a whole. We estimate total premiums in 2009 of EUR2,015mn. This comprises non-life premiums of EUR1,404mn and life premiums of EUR611mn. In 2014 the corresponding figures are forecast to be EUR2,879mn, EUR1,985mn and EUR894mn. In terms of the key drivers that underpin our forecasts, we forecast that non-life penetration will rise from 4.03% in 2009 to 4.40% in 2014, and life density from US$391 to US$532. BMI's proprietary Insurance Business Environment Rating for Slovenia is 59.4 out of 100.

We include a discussion of developments in 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 in 2009. Trends in life insurance varied markedly from country to country across the region. Official figures showed small falls in Slovenia.

Slovenia's Insurance Sector In Q210

Slovenia's insurance sector was one of the strongest and most stable in Central and Eastern Europe in 2009. Figures from the Slovenian Insurance Assocation (Slovensko Zavarovalno Zdruzenje, SZZ) indicated that in the first nine months of 2009 non-life premiums rose 5% to EUR1,124mn, and life premiums fell 4% to EUR467mn. It is fair to say that the non-life segment is among the fastest growing in the region and the life segment has escaped the trauma suffered by its peers elsewhere. Only Turkey, where life insurance is developing rapidly as a result of lower overall levels of financial risk, Croatia and the Czech Republic, where life premiums grew by 3-4% in H109, outperformed Slovenia in growth.

Slovenia's well developed life segment is unusual in a Central and Eastern European context, in that it is dominated by unit-linked products, which accounted for EUR279mn out of the EUR467mn in life premiums written in the first nine months of 2009. Impressively, given the volatility in financial markets in 2008, unit-linked premiums remained virtually unchanged.

Of the non-life lines, compulsory motor third party liability (CMTPL) stood out for the fall in gross premiums, from EUR277mn in the first three quarters of 2008 to EUR256mn in the same period of 2009. In most other non-life lines premiums increased, in some instances by a significantly. Health insurance premiums grew from EUR290mn to EUR311mn. CASCO rose from EUR170mn to EUR189mn.

The SZZ's figures for the 11 months to the end of November 2009 indicate that there have been only minor changes to market shares. In the non-life segment the share of former state-owned monopoly Triglav fell slightly, to 37%, while that of Maribor slipped to just over 14%. The shares of Adriatic Slovenica and Vzajemna rose slightly to about 17%. Triglav and Maribor appear to have lost ground slightly in the life sector too (where they had 34% and 11% of gross premiums respectively).

For more information or to purchase this report, go to:
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Partial Table of Contents:

Executive Summary
- Table: Overview Of Slovenia's Insurance Sector
- Key Insights On Slovenia's Insurance Sector
- Issues To Watch
SWOT Analysis
- Slovenia Industry SWOT
- Slovenia Political SWOT
- Slovenia Economic SWOT
- Slovenia Business Environment SWOT
MetLife's Acquisition Of ALICO
- Table: ALICO At A Glance
- Table: ALICO's Pre-Tax Profits By Segment And Region Contribution, Year To November 30 2009 (%)
- Table: ALICO - A Market Leader In Japan
- Table: MetLife's Acquisition Of ALICO
- Table: MetLife And ALICO Combined
Central And Eastern Europe Overview
- Table: Gross Premiums Written In Selected Central And Eastern European Countries, 2008-2009
Projections And Forecasts
- Table: Insurance Premiums, 2007-2014
- Projections And Drivers Of Growth
- Table: Growth Drivers, 2007-2014
Country Update
- Macroeconomic Outlook
- Table: Slovenia - Economic Activity, 2007-2014
- Political Overview
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
- AEGON
- ALICO
- Allianz
- Aviva
- AXA
- BNP Paribas/Cardif
- ERGO
- Eureko
- Generali
- GRAWE
- Groupama
- HDI-Gerling
- ING
- KBC Group
- MetLife
- Prudential Financial
- QBE
- RSA
- UNIQA
- Vienna Insurance Group
- Zurich
Country Snapshot: Slovenia Demographic Data
- Section 1: Population
- Table: Demographic Indicators, 2005-2030
- Table: Rural/Urban Breakdown, 2005-2030
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Full Table of Contents is available at:
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