BMI's Executive Summary for the Slovakia Insurance Report

[TOP]

This report differs from its predecessors in that it includes BMI's Insurance Business Environment Rating (IBER). The rating brings together a number of pieces of relevant quantitative data, together with BMI's Country Risk Rating (CRR). It is now much easier to consider the business environment for the insurance sector in any one country relative to the business environment for other industries in that country that are surveyed by BMI, and the business environment for the insurance sector in other countries.

Slovakia's IBER is 61.3. While the market is attractive in most structural senses, it is critically limited by the small population of just 5.4mn and the consequently limited potential economic size. The economy and the insurance sector are both growing solidly and the political environment is stable. However, the IBER is held back by the limit of potential returns from a small market that is already fairly well developed.

Over the forecast period, we anticipate that non-life premiums will grow by 17% annually in local currency terms and by 18% in US dollar terms. Life premiums are expected to increase by 13% annually in local currency terms and by 15% in US dollar terms. The key drivers of growth in the non-life segment in 2007-2012 are the anticipated rise in nominal GDP from around US$72 to US$114and an expected increase in non-life penetration from 1.9%GDP to 2.8%. The key driver of growth in the life segment is the envisaged rise in life density from US$199 per capita in 2007 to US$400 per capita in 2012. Slovakia has zero population growth.

Slovakia has 14 cross-border firms competing in its non-life sector. On this measure it is ranked 7th of the 62 countries for which BMI has collected data. There are 15 cross-border firms competing in the smaller life segment. On this measure Slovakia is ranked 5th among the 62 countries for which BMI has collected data. These are remarkably high rankings for such a small market, especially so when you consider that there are also a number of local firms competing in that market. Some form of rationalisation would seem to be necessary and inevitable.

Contents of the Slovakia Insurance Report

[TOP]

Chapter 1 - The Sector At A Glance

Table: Slovakia Overview

Key Features Of This Report And Likely Future Changes

Chapter 2 - Latest News

Recent Developments

Chapter 3 - Evolution Since The Mid-1990s

Table: Slovakia Evolution Of The Insurance Sector (In Millions Of Currency Specified)

Evolution

Chapter 4 - Projections And Forecasts

Table: Slovakia BMI Projections (In Millions Of Currency Specified)

Projections And Drivers Of Growth

Chapter 5 - Macroeconomic Outlook

Table: Economic Indicators

Chapter 6 - Country Update

Political Risk Worrying Coalition?

Economic Risk Restraint Required

Business Environment Favourable Growth Outlook

Chapter 7 - Analysis of Competitive Conditions

Country Overview Slovakia Non-Life Segment

Table: Non-Life Segment Rankings of Markets

Table: Presence Of Non-Life Cross-Border Insurers

Table: Selected Local Non-Life Insurers

Table: Life Segment Rankings of Markets

Table: Presence of Life Cross-Border Insurers

Table: Selected Local Life Insurers

Whos Who In The Central And Eastern European Region?

Chapter 8 - Regional Context

Table: Regional Context - Premiums

Table: Regional Context Total Premiums

Chapter 9 - Methodology And Objectives

Introduction

Background

Forecasts

Chapter 10 - Appendix

Table: Latest Estimates / Actual Figures For 2005

Table: Latest Estimates For 2010

Table: Latest Estimates For 2005-2010

Competitive Landscape for Europe Insurance Reports: Sample of
    Companies Ranked

[TOP]

A cross-border overview of key players and their insurance market share across Europe. Tables and graphs show country presence of multinationals across the region. Comparative company analyses and rankings by premium income (life and non-life). Company SWOTS for leading life and non-life insurers, covering network of offices, presence of foreign stakeholders, strategic relationships, joint ventures; portfolio of clients; diversity of product range; profit growth, investment strategy and risk exposure.

Network of Insurance Sources

[TOP]

BMI's European Insurance Reports are based on an extensive network of multilateral organisations, government departments, insurance industry associations, chambers of commerce and company reports. Information sources include:

Read about our other Insurance Reports