In January 2022, GWPs increased by 18.3% YoY. Non-life insurance grew by 21.1% YoY, while Life insurance increased by 10% YoY.

The Slovenian Insurance Association has published its monthly report on the developments in the Slovenian insurance sector. In January 2022, GWPs increased by 18.3% YoY (or EUR 44.8m) and amounted to EUR 290m.

Non-life insurance, which accounts for 76.3% of total GWPs (or EUR 221.4m), had a strong performance in Motor vehicle liability insurance, which grew by EUR 10.6m (or 42.3%) YoY, Other damage to property insurance, increased by EUR 8.52m (or 48%), and Fire and natural forces insurance, which grew by EUR 6.75m (or 34%) YoY. On the flip side, the only decrease in the Non-life insurance segment was seen by the Goods in transit insurance, which decreased by EUR -138.9k (or -7.85%). On a MoM basis, the 3 aforementioned categories with the highest increase also had similar increases, but are joined by Land motor vehicles insurance, which grew by EUR 15.9m (or 73%), and Health insurance, which increased by EUR 13.7m (or 33%).

At the same time, the Life insurance segment, which equals the remaining 23.7%, increased by 10% (or EUR 6.2m) and amounted to EUR 68.6m in January. Inside this segment, the largest increase was experienced by Unit-linked life insurance, which grew by EUR 4.58m (or 19.5%), and Life assurance, which increased by EUR 2.86m (or 12.2%).

In total, on an MoM basis, total GWPs increased by EUR 97.5m (or 51%), Non-life insurance grew by EUR 100.7m (or 83%), while Life insurance decreased by EUR -3.27m (or -5%).

Performance of the Slovenian Insurance Sector in February 2022 (YoY, EUR)