Boston, MA -- (SBWIRE) -- 10/06/2012 -- The Slovakia Insurance Report considers the prospects for both life and non-life insurers in that country. By the standards of its peers in Central and Eastern Europe, Slovakia's insurance sector is a relatively small market opportunity that is not growing quickly. Given the strong growth in life insurance in the Czech Republic through 2011, and of non-life premiums (for some lines) in Poland, this is a fairly unexciting outcome. Nevertheless, the results that were published by Vienna Insurance Group (VIG) and Allianz who, between them, account for about 60% of all premiums written in Slovakia, continue to highlight the clear strengths of the sector. In sharp contrast to most of Central and Eastern Europe, there has not been brutal competition in the markets for motor-related insurance (ie: both compulsory motorists' third party liability - CMTPL - and voluntary CASCO cover). The fact that life insurance premiums have been able to hold their own, at a time of very low interest rates and well publicised volatility in the eurozone's financial markets, suggests that the country's life insurers are providing attractive products to customers who remain convinced of the utility of life insurance. Thanks to the absence of massive natural catastrophes which blighted H110, combined ratios of non-life businesses have improved strongly. What sets Slovakia apart from the other countries in the region is that both the non-life and the life segments are a lot less fragmented. In the non-life segment, Generali's subsidiary has a double digit market share: in the non-life segment, the same is true of MetLife ALICO. Collectively, the multinational insurers who account for almost all of the activity in the insurance sector deliver economies of Slovakia Insurance Report Q3 2012 © Business Monitor International Ltd Page 6 scale (from their regional or global operations), innovative products, an understanding of distribution and - perhaps most importantly - pricing discipline. The structure and performance of Slovakia's insurance sector at the beginning of 2012 is a reminder that a wave of consolidation may yet take place in many of the other markets in Central and Eastern Europe. Over the last quarter, BMI has made the following changes: ???? The trade association's statistics for 2011, which were published in Q212, have been incorporated into the analysis. ???? There is a discussion of the results for 2011 that were released by the major insurance companies during Q112. ???? The analysis takes into account BMI's latest assessment of an economic environment that remains moderately challenging.

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