Synopsis
Timetric’s 'Non-Life Insurance in Slovenia, Key Trends and Opportunities to 2019' report provides a detailed outlook by product category for the Slovenian non-life insurance segment, and a comparison of the Slovenian insurance industry with its regional counterparts.
It provides values for key performance indicators such as written premium, incurred loss, loss ratio, commissions and expenses, combined ratio, total assets, total investment income and retentions during the review period (2010–2014) and forecast period (2014–2019).
The report also analyzes distribution channels operating in the segment, gives a comprehensive overview of the Slovenian economy and demographics, explains the various types of natural hazard and their impact on the Slovenian insurance industry, and provides detailed information on the competitive landscape in the country.
The report brings together Timetric’s research, modeling and analysis expertise, giving insurers access to information on segment dynamics and competitive advantages, and profiles of insurers operating in the country. The report also includes details of insurance regulations, and recent changes in the regulatory structure.
Summary
Timetric’s 'Non-Life Insurance in Slovenia, Key Trends and Opportunities to 2019' report provides in-depth market analysis, information and insights into the Slovenian non-life insurance segment, including:
• The Slovenian non-life insurance segment’s detailed outlook by product category
• A comprehensive overview of the Slovenian economy and demographics
• A comparison of the Slovenian insurance industry with its regional counterparts
• The various distribution channels in the Slovenian non-life insurance segment
• Detailed analysis of natural hazards and their impact on the Slovenian insurance industry
• Details of the competitive landscape in the non-life insurance segment in Slovenia
• Details of regulatory policy applicable to the Slovenian insurance industry
Scope
This report provides a comprehensive analysis of the non-life insurance segment in Slovenia:
• It provides historical values for the Slovenian non-life insurance segment for the report’s 2010–2014 review period, and projected figures for the 2014–2019 forecast period.
• It offers a detailed analysis of the key categories in the Slovenian non-life insurance segment, and market forecasts to 2019.
• It profiles the top non-life insurance companies in Slovenia, and outlines the key regulations affecting them.
Reasons To Buy
• Make strategic business decisions using in-depth historic and forecast market data related to the Slovenian non-life insurance segment, and each category within it.
• Understand the demand-side dynamics, key market trends and growth opportunities in the Slovenian non-life insurance segment.
• Assess the competitive dynamics in the non-life insurance segment.
• Identify growth opportunities and market dynamics in key product categories.
• Gain insights into key regulations governing the Slovenian insurance industry, and their impact on companies and the industry's future.
Key Highlights
• The Slovenian non-life insurance gross written premium fell at a review-period compound annual growth rate (CAGR) of -2.7%.
• Motor insurance was the slargest non-life category, accounting for 55.9% of its gross written premium in 2014.
• During the review period, several insurers designed policies to cover risk during building construction and installation.
• The agriculture sector’s contribution to GDP is low in Slovenia, at 2.1% in 2014. However, the Slovenian government has partnered with the EU to support farmers, including providing subsidized insurance.
• Agents are an integral part of insurance distribution in Slovenia.
• Solvency II, a new regulatory framework for insurers and reinsurers in Europe, came into force on January 1, 2016.
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1 Key Facts and Highlights
2 Executive Summary
3 Economy and Demographics
4 Segment Outlook
4.1 Regional Comparison
4.2 Segment Indicators
4.2.1 Gross written premium and penetration
4.2.2 Policies sold
4.2.3 Claims
4.2.4 Profitability
4.2.5 Assets and investments
5 Outlook by Category
5.1 Property Insurance
5.1.1 Product overview
5.1.2 Premium
5.1.3 Policies
5.1.4 Claims
5.1.5 Profitability
5.2 Motor Insurance
5.2.1 Product overview
5.2.2 Premium
5.2.3 Policies
5.2.4 Claims
5.2.5 Profitability
5.3 Liability Insurance
5.3.1 Product overview
5.3.2 Premium
5.3.3 Policies
5.3.4 Claims
5.3.5 Profitability
5.4 Marine, Aviation and Transit Insurance
5.4.1 Product overview
5.4.2 Premium
5.4.3 Policies
5.4.4 Claims
5.4.5 Profitability
6 Distribution Channel Outlook
6.1 Analysis by Distribution Channel
6.1.1 Agencies
6.1.2 Insurance brokers
6.1.3 Direct marketing
6.1.4 E-commerce
6.1.5 Bancassurance
6.1.6 Other channels
7 Natural Hazards
7.1 Flood
7.2 Ice Storm
7.3 Exposure
8 Competitive Landscape
8.1 Overview
8.2 Leading Companies in the Slovenian Non-Life Insurance Segment
8.2.1 Zavarovalnica Triglav, dd – company overview
8.2.2 Zavarovalnica Maribor, dd – company overview
8.2.3 Adriatic Slovenica, Zavarovalna družba dd – company overview
8.2.4 Zavarovalnica Tilia, dd – company overview
8.2.5 Generali zavarovalnica dd – company overview
9 Governance, Risk and Compliance
9.1 Legislation Overview and Historical Evolution
9.2 Latest Changes in Regulations
9.3 Legislation and Market Practice by Type of Insurance
9.3.1 Life insurance
9.3.2 Property insurance
9.3.3 Motor insurance
9.3.4 Liability insurance
9.3.5 Marine, aviation and transit insurance
9.3.6 Personal accident and health insurance
9.4 Compulsory Insurance
9.4.1 Health insurance
9.4.2 Motor third-party liability insurance
9.4.3 Marine third-party liability insurance
9.4.4 Professional indemnity insurance for alternative investment fund managers
9.5 Supervision and Control
9.5.1 International Association of Insurance Supervisors
9.5.2 European Insurance and Occupational Pensions Authority
9.5.3 Insurance Supervision Agency
9.5.4 Slovenian Insurance Association
9.6 Non-Admitted Insurance Regulations
9.6.1 Overview
9.6.2 Intermediaries
9.6.3 Market practices
9.6.4 Fines and penalties
9.7 Company Registration and Operations
9.7.1 Types of insurance organization
9.7.2 Establishing a local company
9.7.3 Foreign ownership
9.7.4 Types of license
9.7.5 Capital requirements
9.7.6 Solvency margins
9.7.7 Reserve requirements
9.7.8 Investment regulations
9.7.9 Statutory return requirements
9.7.10 Fee structure
9.8 Taxation
9.8.1 Insurance premium or policy taxation
9.8.2 Withholding taxes on premium paid overseas
9.8.3 Corporate tax
9.8.4 VAT
9.8.5 Captives
9.9 Legal System
9.9.1 Introduction
9.9.2 Access to court
9.9.3 Alternative dispute resolution (ADR)
10 Databook
10.1 Policies and Premium
10.2 Claims and Expenses
10.3 Assets and Investments
10.4 Direct Marketing and E-Commerce
10.5 Insurance Brokers and Agencies
10.6 Bancassurance and Other Distribution Channels
10.7 Property Insurance
10.8 Property Insurance by Product
10.9 Motor Insurance
10.1 Motor Insurance by Product
10.11 Liability Insurance
10.12 Marine, Aviation and Transit Insurance
11 Definitions and Methodology
11.1 Definitions
11.2 Methodology
12 About Timetric
12.1 Contact Timetric
12.2 About Timetric
12.3 Timetric’s Services
12.4 Disclaimer
Table 1: Slovenian Non-Life Insurance – Key Facts, 2014
Table 2: Slovenian Non-Life Insurance – Segment Shares of the Top Insurers, 2014
Table 3: Slovenian Government Credit Ratings
Table 4: Slovenian Non-Life Insurance – Gross Written Premium (EUR Million and US$ Million), 2010–2014
Table 5: Slovenian Non-Life Insurance – Penetration (%), 2010–2014
Table 6: Slovenian Non-Life Insurance – Gross Written Premium (EUR Million and US$ Million), 2014–2019
Table 7: Slovenian Non-Life Insurance – Penetration (%), 2014–2019
Table 8: Slovenian Non-Life Insurance – Premium per Capita (EUR and US$), 2010–2014
Table 9: Slovenian Non-Life Insurance – Premium per Capita (EUR and US$), 2014–2019
Table 10: Slovenian Non-Life Insurance – Number of Policies Sold (Million), 2010–2014
Table 11: Slovenian Non-Life Insurance – Number of Policies Sold (Million), 2014–2019
Table 12: Slovenian Non-Life Insurance – Paid Claims (EUR Million and US$ Million), 2010–2014
Table 13: Slovenian Non-Life Insurance – Paid Claims (EUR Million and US$ Million), 2014–2019
Table 14: Slovenian Non-Life Insurance – Profitability Ratio (%), 2010–2014
Table 15: Slovenian Non-Life Insurance – Profitability Ratio (%), 2014–2019
Table 16: Slovenian Non-Life Insurance – Total Assets (EUR Billion and US$ Billion), 2010–2014
Table 17: Slovenian Non-Life Insurance – Total Assets (EUR Billion and US$ Billion), 2014–2019
Table 18: Slovenian Non-Life Insurance – Total Investment Income (EUR Million and US$ Million), 2010–2014
Table 19: Slovenian Non-Life Insurance – Total Investment Income (EUR Million and US$ Million), 2014–2019
Table 20: Slovenian Non-Life Insurance – Investment Portfolio (EUR Million), 2010–2014
Table 21: Slovenian Non-Life Insurance – Investment Portfolio (EUR Million), 2014–2019
Table 22: Slovenian Non-Life Insurance – Gross Written Premium by Category (EUR Million), 2010–2014
Table 23: Slovenian Non-Life Insurance – Gross Written Premium by Category (EUR Million), 2014–2019
Table 24: Slovenian Property Insurance – Gross Written Premium by Sub-Category (EUR Million), 2010–2014
Table 25: Slovenian Property Insurance – Gross Written Premium by Sub-Category (EUR Million), 2014–2019
Table 26: Slovenian Property Insurance – Number of Policies Sold by Sub-Category (Thousand), 2010–2014
Table 27: Slovenian Property Insurance – Number of Policies Sold by Sub-Category (Thousand), 2014–2019
Table 28: Slovenian Property Insurance – Paid Claims (EUR Million and US$ Million), 2010–2014
Table 29: Slovenian Property Insurance – Paid Claims (EUR Million and US$ Million), 2014–2019
Table 30: Slovenian Property Insurance – Loss Ratio (%), 2010–2014
Table 31: Slovenian Property Insurance – Loss Ratio (%), 2014–2019
Table 32: Slovenian Motor Insurance – Gross Written Premium by Sub-Category (EUR Million), 2010–2014
Table 33: Slovenian Motor Insurance – Gross Written Premium by Sub-Category (EUR Million), 2014–2019
Table 34: Slovenian Motor Insurance – Number of Policies Sold by Sub-Category (Million), 2010–2014
Table 35: Slovenian Motor Insurance – Number of Policies Sold by Sub-Category (Million), 2014–2019
Table 36: Slovenian Motor Insurance – Paid Claims (EUR Million and US$ Million), 2010–2014
Table 37: Slovenian Motor Insurance – Paid Claims (EUR Million and US$ Million), 2014–2019
Table 38: Slovenian Motor Insurance – Loss Ratio (%), 2010–2014
Table 39: Slovenian Motor Insurance – Loss Ratio (%), 2014–2019
Table 40: Slovenian Liability Insurance – Gross Written Premium (EUR Million), 2010–2014
Table 41: Slovenian Liability Insurance – Gross Written Premium (EUR Million), 2014–2019
Table 42: Slovenian Liability Insurance – Number of Policies Sold (Thousand), 2010–2014
Table 43: Slovenian Liability Insurance – Number of Policies Sold (Thousand), 2014–2019
Table 44: Slovenian Liability Insurance – Paid Claims (EUR Million and US$ Million), 2010–2014
Table 45: Slovenian Liability Insurance – Paid Claims (EUR Million and US$ Million), 2014–2019
Table 46: Slovenian Liability Insurance – Loss Ratio (%), 2010–2014
Table 47: Slovenian Liability Insurance – Loss Ratio (%), 2014–2019
Table 48: Slovenian Transport Network – Global Rankings
Table 49: Slovenian Freight Volume (1,000 Tonnes), 2010–2014
Table 50: Slovenian Marine, Aviation and Transit Insurance – Gross Written Premium (EUR Million), 2010–2014
Table 51: Slovenian Marine, Aviation and Transit Insurance – Gross Written Premium (EUR Million), 2014–2019
Table 52: Slovenian Marine, Aviation and Transit Insurance – Number of Policies Sold (Thousand), 2010–2014
Table 53: Slovenian Marine, Aviation and Transit Insurance – Number of Policies Sold (Thousand), 2014–2019
Table 54: Slovenian Marine, Aviation and Transit Insurance – Paid Claims (EUR Million and US$ Million), 2010–2014
Table 55: Slovenian Marine, Aviation and Transit Insurance – Paid Claims (EUR Million and US$ Million), 2014–2019
Table 56: Slovenian Marine, Aviation and Transit Insurance – Loss Ratio (%), 2010–2014
Table 57: Slovenian Marine, Aviation and Transit Insurance – Loss Ratio (%), 2014–2019
Table 58: Slovenian Non-Life Insurance – Direct Written Premium by Distribution Channel (EUR Million), 2010–2014
Table 59: Slovenian Non-Life Insurance – Direct Written Premium by Distribution Channel (EUR Million), 2014–2019
Table 60: Slovenian Non-Life Insurance – Direct Written Premium by Distribution Channel (%), 2010–2019
Table 61: Slovenian Average Annual Loss by Hazard
Table 62: Slovenian Non-Life Insurance – Shares of Top Insurers (%), 2014
Table 63: Zavarovalnica Triglav, dd – Key Facts
Table 64: Zavarovalnica Triglav, dd – Key Financials (EUR Million), 2010–2014
Table 65: Zavarovalnica Maribor, dd – Key Facts
Table 66: Zavarovalnica Maribor dd – Key Financials (EUR Million), 2010–2014
Table 67: Adriatic Slovenica Zavarovalna družba dd – Key Facts
Table 68: Adriatic Slovenica Zavarovalna družba dd – Key Financials (EUR Million), 2010–2014
Table 69: Zavarovalnica Tilia, dd – Key Facts
Table 70: Zavarovalnica Tilia, dd – Key Financials (EUR Million), 2010–2014
Table 71: Generali zavarovalnica dd – Key Facts
Table 72: Generali zavarovalnica dd – Key Financials (EUR Million), 2010–2013
Table 73: Slovenia – Insurance Regulatory Framework Key Features
Table 74: Slovenia – Life Insurance Regulatory Framework
Table 75: Slovenia – Property Insurance Regulatory Framework
Table 76: Slovenia – Motor Insurance Regulatory Framework
Table 77: Slovenia – Liability Insurance Regulatory Framework
Table 78: Slovenia – Liability Limits for Third-Party Death and Physical Injury
Table 79: Slovenia – Liability Limits for Other Claims
Table 80: Slovenia – Corporate Tax Rates for the Financial Year 2015
Table 81: Slovenian Non-Life Insurance – Policies and Premium, 2010–2014
Table 82: Slovenian Non-Life Insurance – Policies and Premium, 2014–2019
Table 83: Slovenian Non-Life Insurance – Claims and Expenses, 2010–2014
Table 84: Slovenian Non-Life Insurance – Claims and Expenses, 2014–2019
Table 85: Slovenian Non-Life Insurance – Assets and Investments, 2010–2014
Table 86: Slovenian Non-Life Insurance – Assets and Investments, 2014–2019
Table 87: Slovenian Non-Life Insurance – Direct Marketing and E-Commerce, 2010–2014
Table 88: Slovenian Non-Life Insurance – Direct Marketing and E-Commerce, 2014–2019
Table 89: Slovenian Non-Life Insurance – Insurance Brokers and Agencies, 2010–2014
Table 90: Slovenian Non-Life Insurance – Insurance Brokers and Agencies, 2014–2019
Table 91: Slovenian Non-Life Insurance – Bancassurance and Other Distribution Channels, 2010–2014
Table 92: Slovenian Non-Life Insurance – Bancassurance and Other Distribution Channels, 2014–2019
Table 93: Slovenian Non-Life Insurance – Property Insurance, 2010–2014
Table 94: Slovenian Non-Life Insurance – Property Insurance, 2014–2019
Table 95: Slovenian Non-Life Insurance – Property Insurance by Product, 2010–2014
Table 96: Slovenian Non-Life Insurance – Property Insurance by Product, 2014–2019
Table 97: Slovenian Non-Life Insurance – Motor Insurance, 2010–2014
Table 98: Slovenian Non-Life Insurance – Motor Insurance, 2014–2019
Table 99: Slovenian Non-Life Insurance – Motor Insurance by Product, 2010–2014
Table 100: Slovenian Non-Life Insurance – Motor Insurance by Product, 2014–2019
Table 101: Slovenian Non-Life Insurance – Liability Insurance, 2010–2014
Table 102: Slovenian Non-Life Insurance – Liability Insurance, 2014–2019
Table 103: Slovenian Non-Life Insurance – Marine, Aviation and Transit Insurance, 2010–2014
Table 104: Slovenian Non-Life Insurance – Marine, Aviation and Transit Insurance, 2014–2019
Table 105: Insurance Industry Definitions
Figure 1: Slovenian Real GDP (EUR Billion), 2010–2019
Figure 2: EUR–US$ Exchange Rate, 2010–2019
Figure 3: Slovenian Consumer Price Inflation, 2010–2019
Figure 4: Slovenian Current Account Balance as Percentage of GDP (%), 2010–2019
Figure 5: Slovenian Unemployment Rate, 2010–2019
Figure 6: Slovenian Population by Age Group, 1991–2025
Figure 7: Slovenian Non-Life Insurance Penetration – Regional Comparison (%), 2014
Figure 8: Slovenian Insurance Segment Direct Written Premium Shares – Regional Comparison (%), 2014
Figure 9: Slovenian Non-Life Insurance – Gross Written Premium (EUR Million), 2010–2019
Figure 10: Slovenian Non-Life Insurance – Penetration (%), 2010–2019
Figure 11: Slovenian Non-Life Insurance – Premium per Capita (EUR), 2010–2019
Figure 12: Slovenian Non-Life Insurance – Number of Policies Sold (Million), 2010–2019
Figure 13: Slovenian Non-Life Insurance – Paid Claims (EUR Million), 2010–2019
Figure 14: Slovenian Non-Life Insurance – Profitability Ratio (%), 2010–2019
Figure 15: Slovenian Non-Life Insurance – Total Assets (EUR Million), 2010–2019
Figure 16: Slovenian Non-Life Insurance – Total Investment Income (EUR Million), 2010–2019
Figure 17: Slovenian Non-Life Insurance – Investment Portfolio (EUR Million), 2010–2019
Figure 18: Slovenian Non-Life Insurance – Investment Portfolio Dynamics by Category, 2010–2019
Figure 19: Slovenian Non-Life Insurance – Gross Written Premium by Category (EUR Million and US$ Million), 2010–2019
Figure 20: Slovenian Non-Life Insurance – Gross Written Premium Dynamics by Category, 2010–2019
Figure 21: Slovenian Property Insurance – Construction Value Output by Category (EUR Million), 2010–2014
Figure 22: Slovenian Property Insurance – Gross Written Premium by Sub-Category (EUR Million), 2010–2019
Figure 23: Slovenian Property Insurance – Gross Written Premium Dynamics by Sub-Category, 2010–2019
Figure 24: Slovenian Property Insurance – Number of Policies Sold by Sub-Category (Thousand), 2010–2019
Figure 25: Slovenian Property Insurance – Paid Claims (EUR Million), 2010–2019
Figure 26: Slovenian Property Insurance – Earned Premium, Incurred Loss and Loss Ratio (EUR Million and %), 2010–2019
Figure 27: Slovenian Total Vehicle Registrations (Thousand), 2010–2014
Figure 28: Slovenian Motor Insurance – Gross Written Premium by Sub-Category (EUR Million), 2010–2019
Figure 29: Slovenian Motor Insurance – Gross Written Premium Dynamics by Sub-Category, 2010–2019
Figure 30: Slovenian Motor Insurance – Number of Policies Sold by Sub-Category (Million), 2010–2019
Figure 31: Slovenian Motor Insurance – Paid Claims (EUR Million), 2010–2019
Figure 32: Slovenian Motor Insurance – Earned Premium, Incurred Loss and Loss Ratio (EUR Million and %), 2010–2019
Figure 33: Slovenian Liability Insurance – Gross Written Premium (EUR Million), 2010–2019
Figure 34: Slovenian Liability Insurance – Number of Policies Sold (Thousand), 2010–2019
Figure 35: Slovenian Liability Insurance – Paid Claims (EUR Million), 2010–2019
Figure 36: Slovenian Liability Insurance – Earned Premium, Incurred Loss and Loss Ratio (EUR Million and %), 2010–2019
Figure 37: Slovenian Goods Imports and Exports (EUR Billion), 2010–2014
Figure 38: Slovenian Marine, Aviation and Transit Insurance – Gross Written Premium (EUR Million), 2010–2019
Figure 39: Slovenian Marine, Aviation and Transit Insurance – Number of Policies Sold (Thousand), 2010–2019
Figure 40: Slovenian Marine, Aviation and Transit Insurance – Paid Claims (EUR Million), 2010–2019
Figure 41: Slovenian Marine, Aviation and Transit Insurance – Earned Premium, Incurred Loss and Loss Ratio (EUR Million and %), 2010–2019
Figure 42: Slovenian Non-Life Insurance – Direct Written Premium by Distribution Channel (%), 2010, 2014 and 2019
Figure 43: Slovenian Frequency of Hazards by Type, 1990–2014
Figure 44: Slovenia Mortality of Hazards by Type, 1990–2014
Figure 45: UK Economic Issues Caused by Hazards by Type, 1990–2014
Figure 46: Slovenian Non-Life Insurance – Shares of Top Insurers (%), 2014
Figure 47: Slovenia – The Three Pillars of Solvency II
Figure 48: Slovenia – Insurance Supervision and Control at Various Levels
Figure 49: Slovenia – Insurance Regulatory Frameworks for Company Registration and Operation
