Vienna Insurance Group expands market leadership in Slovakia
• The Group expands its position as the number one in the core market Slovakia
• Strong growth above market average
• Increase in premiums in all lines of business
The excellent development of Vienna Insurance Group in Slovakia continues. The Group expanded its market share to 34.5 per cent, sharply increasing its edge over competitors. Last year the Group companies Kooperativa, Komunálna poisťovňa and Poisťovňa Slovenskej sporiteľne (PSLSP) boosted their premiums to about EUR 750 million*. This is a remarkable plus of 5.5 percent compared to last year, while the market grew by 2.7 percent.
In the life insurance segment premiums rose by a significant 9.2 percent. This is mainly due to the excellent cooperation with Erste Group via the Group company PSLSP. Its sales through banks climbed by almost 31 percent.
In the non-life insurance premiums went up by one percent against the background of a market downturn. The home, casualty and health insurance have developed particularly favourably, increasing by 4.2 percent compared to last year.
Slovakia in figures
5.4 million people live in Slovakia, who on average spend about EUR 400 on insurance per year. In Austria the respective amount totals approximately EUR 2,000. The annual expenditure on modern insurance solutions shows very clearly the still huge potential of this VIG core market.
* The business figures are based on preliminary data and are unconsolidated as well as unaudited.