PRLog (Press Release)– Mar 06, 2011– Key Insights On Slovenia's Insurance Sector
Writing in February 2011, the figures for 2009 are now actual published data sourced from the Slovenian Insurance Association (SZZ). Using the actual data from 2009 as the base we estimate total premiums in 2010 of EUR2.27bn. This includes non-life premiums of EUR1.63bn and life premiums of EUR640mn. In 2015, the corresponding figures are forecast to be EUR2.85bn, EUR2.08bn and EUR773mn. In terms of the key drivers that underpin our forecasts, we expect non-life penetration to remain constant at just under 4.4% of GDP between 2010 and 2015. We forecast life density to rise from US$410 to US$460 per capita over the same period.
Issues To Watch
Pricing In Motor Insurance Lines
The divergent directions of premiums in compulsory third-party motor liability (CTPML) and voluntary fully comprehensive third-party (CASCO) insurance lines suggests there may be strong downwards pressure in the former.
Continuing Growth In Unit-Linked Insurance
The development of unit-linked products has been key in underpinning life segment stability in recent years.
Expansion Of Slovenian Insurers Into Other Markets
Slovenia now has most of the characteristics of a fully developed insurance market and companies could expand into other countries in Central and Eastern Europe.
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