Vienna Insurance Group expands market leadership in Slovakia

Vienna Insurance Group expands market leadership in Slovakia

Vienna Insurance Group expands market leadership in Slovakia

The FINANCIAL -- 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, according to Vienna Insurance Group.

 

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, according to Vienna Insurance Group.


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.

 

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, according to Vienna Insurance Group.