Financial Performance of Insurance Companies in Slovenia
In 2016, insurance companies in Slovenia calculated 1.94 billion euros of gross premiums in the categories of life and property insurance, which is 1.6% more than in 2015.
“The calculated gross premium has finally started growing significantly,” says the Deputy Director of the Insurance Supervision Agency (AZN) Mojca Piškurić. In the property insurance category, 30% of premiums are related to the insurance of medical expenses (mainly to the additional medical insurance), followed by the insurance against fires and injuries (16% of premiums), as well as other types of motor vehicle insurance and motor vehicle liability insurance (15% of premiums).
In the life insurance category, the insurance related to the index or unit of property (for example, to the unit investment funds) accounts for the largest part of premiums (48%), followed by the insurance of guarantee obligations or participation in the distribution of profits (39%).
The last year’s total profit of insurance companies in Slovenia is estimated at 138.9 million euros, which is 3.3% more than in 2015. In the property insurance category, this figure is 84.6 million euros. At the same time, according to the additional medical insurance item, a negative indicator was registered in the amount of 5.7 million euros. In the life insurance category, the profit was 39 million euros.
Total capital of insurance companies at the end of 2016 amounted to 794.8 million euros, and in the segment of reinsurance services – to 178.4 million euros, which is 200% higher than the minimum.