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Introduction

This report is most appropriate for companies looking for an overview of the life insurance and pensions markets in order to assess the level of market opportunity (using our market data and forecasts), regulatory barriers and opportunities, and level of competition in the market. For more detailed market data please refer to Datamonitor's European Life and Pensions Interactive Database 2006.

Scope

Presents competitor market data for life insurance and pensions companies. Assesses regulatory barriers and opportunities. 5 years historic data from 2001-5 and 5 year forecast to 2010.

Highlights

Life insurance accounts for a tiny but growing percentage of the Slovakian life and pensions market. Premium income from life insurance has been steadily growing, while pensions growth has fallen slightly since 2001 64% of all insurance providers in Slovakia provide both life insurance and non-life insurance. Allianz Slovenská poistovna is the market leader in the Slovak insurance market, providing its clients with products and services in the fields of life, accident, property and liability insurance, and a wide range of commercial and industrial insurance solutions

Reasons to Purchase

Get an overview of the life and pensions market, including past growth and forecast growth. Assess regulatory barriers and opportunities affecting life insurance and pensions in this country. Analyze competition from life insurance companies.

Overview 1
Catalyst 1
Summary 1
Executive Summary 2
The Slovakian life and pensions market expanded by a compound annual rate of 12.2% between 2001 and 2005 2
Life premiums will grow to account for around 99% of the Slovakian life and pensions market by 2010 2
The Slovakian market is up-to-date with its EU accession legislation 2
64% of all insurance providers in Slovakia provide both life and non-life insurance 2
The top 5 life insurance market leaders in Slovakia are all subsidiaries of foreign companies 2
Table of Contents 3
Table of figures 4
Table of tables 5
MARKET OVERVIEW 6
The Slovakian life and pensions market expanded by a compound annual rate of 12.2% between 2001 and 2005 6
The Slovakian life and pensions market experienced compound annual growth of 12.2% between 2001 and 2005 6
Non-unit-linked premiums dominate the Slovakian life and pensions market 8
MARKET FORECASTS 10
Life premiums will grow to account for around 99% of the Slovakian life and pensions market by 2010 10
Over the next 5 years, premium income is set to grow at a compound annual rate of 37.4%, compared to 12.2% between 2001-2005 10
MARKET REGULATION 12
The Slovakian market is up-to-date with its EU accession legislation 12
The Slovakian National Bank now regulates the life insurance and pensions sector 12
The Slovak Insurance Association represents the interest of insurance firms in Slovakia 13
The Slovak Association of Insurance Brokers controls independent intermediary activity in the insurance industry 13
In 2002 Slovakia introduced a new Insurance Act to bring its legislation in line with the EU standard 13
There is some doubt as to the level of consumer protection provided by Slovakian insurance regulation 13
Slovakia adopted the EU Directive on Insurance Mediation in 2005 and as a result adopted new categorization of intermediaries 14
Slovakia has so far adopted only the Second EU Anti-Money Laundering Directive 14
COMPETITIVE MARKET STRUCTURE 16
64% of all insurance providers in Slovakia provide both life and non-life insurance 16
Almost two thirds of insurance providers in Slovakia provide both life and non-life insurance 16
The top 5 life and pensions insurers control 73% of the market by gross premium income 17
MARKET LEADERS 19
The top 5 life insurance market leaders in Slovakia are all subsidiaries of foreign companies 19
Allianz is the life insurance market leader based on 2005 premium income 19
AMSLICO AIG is the second largest life insurer in Slovakia 19
ING Životná poistovna ranks fourth among life insurance companies 20
KONTINUITA poistovna rounds out the top 5 life insurers 20
APPENDIX 21
Definitions 21
Capital redemption policy / bond 21
Composite insurer 21
Defined contribution pension scheme 21
Defined benefits pension scheme 21
Group policy 21
Individual pension scheme 21
Individual policy 21
Life assurance 21
Occupational pension scheme 22
Pension insurance policy 22
Premium income 22
Regular premium 22
Single premium 22
Technical provisions 22
Traditional insurance 22
Unit-linked insurance 22
Further reading 22
Interactive Databases 22
Reports and Briefs 23
Ask the analyst 24
Datamonitor consulting 24
Disclaimer 24
List of Tables
Table 1: Life and pensions insurance premium income, segmented by product, EURm, 2001-2005 7
Table 2: Life and pensions insurance premium income, segmented by product, in percentages, 2001-2005 7
Table 3: Life and pensions insurance premium income, segmented by investment risk, EURm, 2002-2005 8
Table 4: Life and pensions insurance premium income, segmented by investment risk, in percentages 9
Table 5: Life and pensions insurance premium income, segmented by product, EURm, 2006-2010 11
Table 6: Life and pensions insurance premium income, segmented by product, in percentages, 2006-2010 11
Table 7: Number of life insurance providers, as at Dec 31 2005 17
Table 8: Top 5 life and pensions insurers by premium income, as at Dec 2005 18
List of Figures
Figure 1: Life premiums accounted for around 97% of total premium income in 2005 6
Figure 2: Over the last 4 years, compound annual growth in premium income from unit-linked insurance has been quadruple that of non-unit linked growth 8
Figure 3: Life premiums will grow to account for 99% of premium income by 2010 10
Figure 4: Life insurance companies comprise a fifth of the total Slovakian insurance market 16
Figure 5: Allianz controls around a quarter of the Slovakian life and pensions sector 17