Insurers launch ad binge to secure market

SLOVAKIA's insurance companies spent Sk381 million last year to promote compulsory motor vehicle liability insurance, according to polling agency Taylor Nelson Sofres (TNS). At the beginning of 2002, the segment became open as Slovenská poisťovňa (SP) lost its monopoly status for this type of insurance. Owners of motor vehicles were obliged to sign new policies by the end of 2001.

Almost half of the total was spent by Germany's Allianz, while SP, Slovakia's largest insurer, was second most generous, spending Sk120 million. SP continues to dominate the market with 47.6 per cent market share, while Allianz captured a 22.6 per cent share. Allianz bought a 91 per cent share in SP in February 2002.

Television received 81 per cent of promotion spending, while 8 per cent of the total was spent in the print press and 6 per cent on radio.

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