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Slovenia Insurance Report Q4 2014 - New Market Report

New Financial Services market report from Business Monitor International: "Slovenia Insurance Report Q4 2014".


Boston, MA -- (SBWIRE) -- 11/28/2014 -- As of late 2014, it is clear that market leader Triglav has achieved a significant increase in profits this year. However, this is partly because of a sharp improvement in investment earnings and partly due to rigorous control of claims and other costs. Premiums have been contracting in both the life and the non-life segments. As we expected, the difficult economic conditions in Slovenia, and brutal competition in the motor vehicle insurance sub-sector (especially) have continued to have an adverse impact. We see no reason for a decisive improvement in conditions. Taking a five year view, we remain of the view that some of the multi-nationals who are present in Slovenia (and usually with minor market shares) will reconsider their commitment to the market.

The data and newsflow from Slovenia's insurance sector through Q214 and Q314 confirms our view that its situation is currently challenging and will likely remain so for much (or all) of the forecast period. In the larger non-life segment, reports from the trade association and market leader Triglav confirm that the weakness of the general economy is having an adverse impact on most sub-sectors. Although some companies are increasing volumes, this is being more than offset by a decline in prices. Indeed, some of the product innovations that have been announced emphasise lower cost from the point of view of the policyholder. Competition in the motor vehicle insurance segment remains brutal.

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Conditions are no better in the life segment. Companies that are actual or potential users of group products have been going bankrupt. Households are nervous, and unwilling to commit to long-term life insurance contracts amidst the ongoing (near) recession in Slovenia. Lapses and surrenders are up.

However, the news has not all been bad. Assessments of Triglav and other major insurers by major ratings agencies have generally been favourable. The insurers appear to have been able to absorb significant claims...

The Slovenia Insurance Report has been researched at source and features Business Monitor International (BMI)'s independent assessment and forecasts for the insurance sector. It examines industry developments, key growth drivers and risk management projections, including the macroeconomic situation, government policy, regulatory environment and the level of development and potential for growth, broken down by line. Leading insurers are profiled, covering premiums, products and services and competitive positioning.

BMI's Slovenia Insurance Report provides professionals, consultancies, government departments, regulatory bodies and researchers with independent forecasts and regional competitive intelligence on the Slovenian insurance industry.

Key Benefits

- Benchmark BMI's independent insurance industry forecasts for Slovenia to test other views - a key input for successful budgeting and strategic business planning in Slovenia's insurance market.
- Target business opportunities and risks in Slovenia through our reviews of latest industry trends, regulatory changes and major deals, investments and macroeconomic developments.
- Exploit latest competitive intelligence on your competitors, partners and clients via our Company Profiles (inc. SWOTs, KPIs and latest activity).


BMI Industry View

Summary of BMI's key industry forecasts and views, covering the Life and Non-Life segments, the evolving competitive landscape and business operational risks.

Industry SWOT Analysis

Analysis of the major Strengths, Weaknesses, Opportunities and Threats within the insurance sector and within the broader political, economic and business environment.

Regional Outlook

Individual analysis of both Life and Non-Life insurance sector developments and prospects across developed states and emerging markets - supported by BMI's global industry growth forecasts. This is followed by an in-depth evaluation of region- and country-specific trends, focusing on BMI's country-by-country market growth data.

Business Environment Rankings

BMI's Insurance Business Environment Rankings provide a country-comparative Risk-Reward Rankings index aimed at investors (Life and Non-Life) in the insurance market.

The rankings methodology makes sophisticated use of over 40 industry, economic and demographic data points and is part of BMI's integrated Country Risk-Industry Rankings products.

BMI Industry Forecasts

Historic data series (2008-2012) and forecasts to end-2018 for key industry and economic indicators (see list below) supported by explicit assumptions, plus analysis of key risks to the main forecasts. Indicators include:

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