Fast Market Research recommends "Slovakia Insurance Report Q3 2016" from Business Monitor International, now available
[ClickPress, Tue May 24 2016] Strong Slovakian household income growth and rising disposable income should support growth in gross written premiums in 2016 and following years. Although a small market that is unlikely to exceed EUR2.6bn by 2020, Slovakia remains one of the better performing markets in the Central and Eastern European region. With the stabilisation of the EUR/USD exchange rate, the sector's growth prospects will attract the attention of foreign investors and new entrants who may be looking to take advantage of a relatively fragmented competitive landscape. The life insurance market will be bolstered by a high savings rate, which is leading to rising interest in pension and retirem ent products. Meanwhile, in the non-life sector, rising car ownership will spur growth in motor vehicle insurance, while private health insurance will remain small due to the expansion of public health insurance.Key Updates And ForecastsThe proportion of life premiums as a total of gross written premiums will rise from 57.5% in 2015 to 61.8% in 2020 as average life insurance growth of 5.0% outpaces the 1.2% average growth in the non-life sector.Life insurance growth has been adjusted downwards this quarter due to lower expectations of household income growth, but Slovakia remains a strong, growing market in regional terms.In spite of anticipated growth in car ownership, growth in motor vehicle premiums (representing 80% of the non-life market) will be insufficient to boost non-life gross written premiums to match the rate of the life sector, particularly with more sluggish growth in property insurance and the contraction in private health insurance.
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The Slovakia Insurance Report has been researched at source and features BMI Research's independent assessment and forecasts for the insurance sector. It examines industry developments, key growth drivers and risk management projections, including the macroeconomic situation, government policy, regulatory environment and the level of development and potential for growth, broken down by line. Leading insurers are profiled, covering premiums, products and services and competitive positioning.
BMI's Slovakia Insurance Report provides professionals, consultancies, government departments, regulatory bodies and researchers with independent forecasts and regional competitive intelligence on the Slovak insurance industry.
Benchmark BMI's independent insurance industry forecasts for Slovakia to test other views - a key input for successful budgeting and strategic business planning in Slovakia's insurance market.
Target business opportunities and risks in Slovakia through our reviews of latest industry trends, regulatory changes and major deals, investments and macroeconomic developments.
Exploit latest competitive intelligence on your competitors, partners and clients via our Company Profiles (inc. SWOTs, KPIs and latest activity).
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