Slovenian Insurance Sector up by 3.4% in the First 9 Months of 2021

In the first 9 months of 2021, GWPs recorded an increase of 3.4% YoY. Of these, Non-life insurance experienced an increase of 3.5%, while Life insurance increased by 3.1%.

The Slovenian Insurance Association published its monthly update on the GWP progress in Slovenia. The first 9 months of 2021 did well, as GWPs increased by 3.4% YoY to EUR 2.04bn. Both Non-life and Life insurance rose by 3.5% (to EUR 1.46bn) and 3.1% (to EUR 578m) respectively.

Non-Life insurance, which accounts for 70% of the total GWPs, had a solid performance as a result of an increase in Other damage to property segment (+18.9%), along with the Land motor vehicles segment (+5.3%); both of these account for 6.1% and 12.2% of Non-Life insurance GWPs respectively. On the flipside, Motor vehicles liability insurance observed a decrease of -4% YoY, making it the worst performer (in absolute terms) in the non-life segment.

Health insurance, which is the biggest segment of Non-Life insurance with a 25.9% share in total GWPs, experienced a small increase of 0.8%. At the same time, Fire and natural forces insurance experienced an increase of 4.7% YoY.

Looking at Life insurance, we can see an increase of 3.1% YoY. Within this segment, Unit-linked life insurance increased by 16.8%, which Life assurance and Marriage assurance, birth assurance decreased by -4.9% and 15.7% YoY respectively.

When looking at the MoM change, total GWPs increased by 6.6%, mostly due to the Non-Life insurance increase of 6.6%, but also supported by the Life insurance increase of 7.1%.

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

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