In the first 7 months of 2021, GWPs recorded an increase of 2.9% YoY. Of that Non-life insurance witnessed an increase of 2.8% and Life insurance by 3.0%.

The Slovenian Insurance Association published their monthly update on the GWP progress in Slovenia. The first 7 months of 2021 performed well, as GWPs increased by 2.8% YoY to EUR 1.63bn. Both Non-life and Life insurance rose by 2.81% (to EUR 1.18bn) and 3.03% (to EUR 457m) respectively.

Non-Life insurance, which accounts for almost three fourths of the total GWPs, showed a good performance as a result of an increase in other damage to property segment (+17.85%), along with land motor vehicles segment (+4.52%). On the other hand, Motor vehicle liability insurance, observed a decrease of 5.49% YoY, thus being the worst performer (in absolute terms) in the non-life segment.

Health insurance, which is the largest segment of Non-Life insurance with a 25.1% share in total GWP, witnessed a slight increase of 0.53%. The market has also noted a pickup in credit insurance which is currently up by 9.8% YoY.

Looking at Life insurance, we can see an increase of 3.03%. Within the segment, Unit-linked life insurance rose by 17.76%, while Life assurance diminished by 5.52%.

When observing MoM change, total GWPs decreased by 5%, mostly as a consequence of Non-Life insurance drop (-6.2%), but also as a result of a slight decline from Life insurance (-2%).

Top and Bottom Performing Segment (change YoY) (EUR)