Market Guide: Life Insurance and Pensions in Slovakia 2006

Publication Date	August 2007
Publisher	Datamonitor
Product Type	Report
Pages	24
ISBN Number	not applicable
Product Code	DAT07180

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Summary

Introduction

This report is most appropriate for companies looking for an overview of the life insurance and pensions markets in order to assess the level of market opportunity (using our market data and forecasts), regulatory barriers and opportunities, and level of competition in the market. For more detailed market data please refer to Datamonitor's European Life and Pensions Interactive Database 2006.

Scope

Presents competitor market data for life insurance and pensions companies.
Assesses regulatory barriers and opportunities.
5 years historic data from 2001-5 and 5 year forecast to 2010.

Highlights

Life insurance accounts for a tiny but growing percentage of the Slovakian life and pensions market. Premium income from life insurance has been steadily growing, while pensions growth has fallen slightly since 2001

64% of all insurance providers in Slovakia provide both life insurance and non-life insurance.

Allianz Slovensk poistovna is the market leader in the Slovak insurance market, providing its clients with products and services in the fields of life, accident, property and liability insurance, and a wide range of commercial and industrial insurance solutions

Reasons to Purchase

Get an overview of the life and pensions market, including past growth and forecast growth.
Assess regulatory barriers and opportunities affecting life insurance and pensions in this country.
Analyze competition from life insurance companies.

Content

Catalyst
Summary
Executive Summary
- The Slovakian Life And Pensions Market Expanded By A Compound Annual Rate Of 12.2% Between 2001 And 2005
- Life Premiums Will Grow To Account For Around 99% Of The Slovakian Life And Pensions Market By 2010
- The Slovakian Market Is Up-To-Date With Its Eu Accession Legislation
- 64% Of All Insurance Providers In Slovakia Provide Both Life And Non-Life Insurance
- The Top 5 Life Insurance Market Leaders In Slovakia Are All Subsidiaries Of Foreign Companies
Market Overview
- The Slovakian Life And Pensions Market Expanded By A Compound Annual Rate Of 12.2% Between 2001 And 2005
- The Slovakian Life And Pensions Market Experienced Compound Annual Growth Of 12.2% Between 2001 And 2005
- Non-Unit-Linked Premiums Dominate The Slovakian Life And Pensions Market
Market Forecasts
- Life Premiums Will Grow To Account For Around 99% Of The Slovakian Life And Pensions Market By 2010
- Over The Next 5 Years, Premium Income Is Set To Grow At A Compound Annual Rate Of 37.4%, Compared To 12.2% Between 2001-2005
Market Regulation
- The Slovakian Market Is Up-To-Date With Its Eu Accession Legislation
- The Slovakian National Bank Now Regulates The Life Insurance And Pensions Sector
- The Slovak Insurance Association Represents The Interest Of Insurance Firms In Slovakia
- The Slovak Association Of Insurance Brokers Controls Independent Intermediary Activity In The Insurance Industry
- In 2002 Slovakia Introduced A New Insurance Act To Bring Its Legislation In Line With The Eu Standard
- There Is Some Doubt As To The Level Of Consumer Protection Provided By Slovakian Insurance Regulation
- Slovakia Adopted The Eu Directive On Insurance Mediation In 2005 And As A Result Adopted New Categorization Of Intermediaries
- Slovakia Has So Far Adopted Only The Second Eu Anti-Money Laundering Directive
Competitive Market Structure
- 64% Of All Insurance Providers In Slovakia Provide Both Life And Non-Life Insurance
- Almost Two Thirds Of Insurance Providers In Slovakia Provide Both Life And Non-Life Insurance
- The Top 5 Life And Pensions Insurers Control 73% Of The Market By Gross Premium Income
Market Leaders
- The Top 5 Life Insurance Market Leaders In Slovakia Are All Subsidiaries Of Foreign Companies
- Allianz Is The Life Insurance Market Leader Based On 2005 Premium Income
- Amslico Aig Is The Second Largest Life Insurer In Slovakia
- Ing ivotn Pois?Ov?A Ranks Fourth Among Life Insurance Companies
- Kontinuita Pois?Ov?A Rounds Out The Top 5 Life Insurers
Appendix
- Definitions
- Capital Redemption Policy / Bond
- Composite Insurer
- Defined Contribution Pension Scheme
- Defined Benefits Pension Scheme
- Group Policy
- Individual Pension Scheme
- Individual Policy
- Life Assurance
- Occupational Pension Scheme
- Pension Insurance Policy
- Premium Income
- Regular Premium
- Single Premium
- Technical Provisions
- Traditional Insurance
- Unit-Linked Insurance
- Further Reading
- Interactive Databases
- Reports And Briefs
- Ask The Analyst
- Datamonitor Consulting
- Disclaimer
List Of Tables
- Table 1: Life And Pensions Insurance Premium Income, Segmented By Product, Eurm, 2001-2005
- Table 2: Life And Pensions Insurance Premium Income, Segmented By Product, In Percentages, 2001-2005
- Table 3: Life And Pensions Insurance Premium Income, Segmented By Investment Risk, Eurm, 2002-2005
- Table 4: Life And Pensions Insurance Premium Income, Segmented By Investment Risk, In Percentages
- Table 5: Life And Pensions Insurance Premium Income, Segmented By Product, Eurm, 2006-2010
- Table 6: Life And Pensions Insurance Premium Income, Segmented By Product, In Percentages, 2006-2010
- Table 7: Number Of Life Insurance Providers, As At Dec 31 2005
- Table 8: Top 5 Life And Pensions Insurers By Premium Income, As At Dec 2005
List Of Figures
- Figure 1: Life Premiums Accounted For Around 97% Of Total Premium Income In 2005
- Figure 2: Over The Last 4 Years, Compound Annual Growth In Premium Income From Unit-Linked Insurance Has Been Quadruple That Of Non-Unit Linked Growth
- Figure 3: Life Premiums Will Grow To Account For 99% Of Premium Income By 2010
- Figure 4: Life Insurance Companies Comprise A Fifth Of The Total Slovakian Insurance Market
- Figure 5: Allianz Controls Around A Quarter Of The Slovakian Life And Pensions Sector