Market Guide: Life Insurance and Pensions in Slovenia 2006

Table of Contents

• Overview
  • Catalyst
  • Summary
• Executive Summary
  • Following compound annual growth of 45.0% in the last five years, between 2006 and 2010, growth in the Slovenian life and pensions market is set to slow to 24.3%
    • The Slovenian life and pensions market expanded by a compound annual rate of 45.0% between 2001 and 2005
    • Growth in premium income is set to slow between 2006 and 2010, although pensions will continue to grow faster than life insurance
    • The market is well-regulated by an independent authority
    • The market includes over 200 subsidiaries of foreign firms
    • 3 of the top 5 players in the life and pensions sector are domestic firms
• Table of Contents
• Table of figures
• Table of tables
• MARKET OVERVIEW
  • The Slovenian life and pensions market expanded by a compound annual rate of 45.0% between 2001 and 2005
    • The Slovenian life and pensions market experienced compound annual growth of 45.0% between 2001 and 2005
    • Premium income from unit-linked insurance has increased significantly since 2001
• MARKET FORECASTS
  • Growth in premium income is set to slow between 2006 and 2010, although pensions will continue to grow faster than life insurance
    • Over the next 5 years, premium income is set to grow at a compound annual rate of 24.3%
• MARKET REGULATION
  • The market is well-regulated by an independent authority
    • The Slovenian National Bank has little influence over the life insurance and pensions sector
    • The Insurance Supervision Agency regulates the life and pensions sector in Slovenia
    • The Slovenian Insurance Association represents the interests of Slovenian insurers
    • Slovenia was referred to the European Commission for non-implementation of the Directive on Institutions for Occupational Retirement Provisions
    • The Insurance Mediation Directive has created a single market for insurance in Europe
    • Slovenia passed its major Insurance Act in January 2000
    • The Pension and Invalidity Insurance Act further regulated the industry
    • Proposed anti-money laundering legislation implies an additional administrative burden for insurers
• COMPETITIVE MARKET STRUCTURE
  • The market includes over 200 subsidiaries of foreign firms
    • The Slovenian life and pensions market is inundated by foreign providers
    • The top 5 life and pensions insurers control 85% of the market by gross premium income
• MARKET LEADERS
  • 3 of the top 5 players in the life and pensions sector are domestic firms
    • Zavarovalnica Triglav is the life insurance market leader, based on premium income in 2005
    • Maribor trails the market leader in the life insurance sector
    • Merkur ranks third among life insurance companies in Slovenia
    • NLB Vita is the fourth highest ranked life insurer by premium income
    • Grawe (Prima) rounds out the top 5 life insurers
• APPENDIX
  • Definitions
    • Capital redemption policy / bond
    • Composite insurer
    • Defined contribution pension scheme
    • Defined benefits pension scheme
    • Group policy
    • Individual pension scheme
    • Individual policy
    • Life assurance
    • Occupational pension scheme
    • Pension insurance policy
    • Premium income
    • Regular premium
    • Single premium
    • Technical provisions
    • Traditional insurance
    • Unit-linked insurance
  • Further reading
    • Interactive Databases
    • Reports and Briefs
  • Ask the analyst
  • Datamonitor consulting
  • Disclaimer
  • List of Tables
    • Table 1: Life and pensions insurance premium income, segmented by product, EURm, 2001-2005
    • Table 2: Life and pensions insurance premium income, segmented by product, in percentages, 2001-2005
    • Table 3: Life and pensions insurance premium income, segmented by investment risk, EURm, 2001-2005
    • Table 4: Life and pensions insurance premium income, segmented by investment risk, in percentages
    • Table 5: Life and pensions insurance premium income, segmented by product, EURm, 2006-2010
    • Table 6: Life and pensions insurance premium income, segmented by product, in percentages, 2006-2010
    • Table 7: Over 200 undertakings with registered offices in EU member states perform business in the Slovenian life and pensions market, although 3 of the top 5 insurers are domestic firms.
    • Table 8: Top 5 life and pensions insurers by gross premium income, as at Dec 2005
  • List of Figures
    • Figure 1: Pension premiums accounted for 62% of total premium income in 2005
    • Figure 2: Premium income from unit-linked insurance has increased significantly since 2001
    • Figure 3: Pension premiums will continue to account more than 80% of premium income up until 2010
    • Figure 4: The top 5 life and pensions insurers control 85% of the market, by premium income