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Insurers collect a record EUR 2.3bn in premiums last year

Ljubljana, 29 August (STA) - Insurance companies operating in Slovenia last year collected a record EUR 2.3 billion in gross premiums, which is 7.2% more than in 2019, while damage payouts were up 3.2% to EUR 1.6 billion. More than 70% of the total gross insurance premiums and damage payouts were covered by the four largest insurance companies.

In terms of the structure of the insurance market, 80% of the total gross insurance premiums was collected and 85% of the total damages was paid out to individuals, according to the data of the national Statistics Office.

Contributing the highest share in the total amount of the collected gross insurance premiums is supplementary health insurance (26.2%), followed by life insurance (25.5%) and vehicle insurance (13.2%).

The structure of payouts was also dominated by supplementary health insurance (33.1%), followed by life insurance (28.6%) and vehicle insurance (13%).

Individuals paid the largest amount for premiums for supplementary health insurance (EUR 597.8 million) and life insurance (EUR 568.3 million), followed by vehicle insurance (EUR 226.2 million) and third-party vehicle insurance (EUR 196 million).

Individuals meanwhile got paid out the largest amount in damages in supplementary health insurance (EUR 513.4 million), followed by life insurance (EUR 427.4 million) and vehicle insurance (EUR 153.2 million).

Companies were charged the most for vehicle insurance (EUR 81.9 million), followed by other damage insurance (EUR 79 million) and third-party vehicle insurance (EUR 64.7 million).

They were meanwhile paid out the most damages for third-party vehicle insurance (EUR 55.5 million), followed by vehicle insurance (EUR 48.7 million), other damage insurance (EUR 33.2 million) and fire and natural disaster insurance (EUR 26.5 million).

Last year, 13 insurance companies were seated in Slovenia, and another five had their subsidiaries in the country, which is the same number as in 2018.

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