Insurance sector profits rise

THE SLOVAK insurance sector had a profit of €179 million last year, according to the National Bank of Slovakia (NBS). 

(Source: Sme)

This represented year-on-year growth of 13.3 percent.

This is the second biggest figure ever, according to the NBS. The highest was in 2011 – €188 million, the SITA newswire reported.

The insurance sector was further subject to an environment of falling interest rates; while other market risks remain unimportant, NBS opined.

Premiums in life insurance declined by 0.27 percent; the premiums in non-life insurance – after two years of decline – rose by 2.9 percent y-o-y, to €939, while a complex situation in car insurance remains. The insurance sector is resistant to losses stemming from stress scenarios, according to the NBS.

Get daily Slovak news directly to your inbox

Theme: Finances and Advisory

Read more articles by the topic

Top stories

Threats have worked. People queued for COVID testing before the official start

The nationwide testing in Slovakia started with four districts in the north. Here is a report from the first day in Orava.

Bardejov

Day two of pilot testing in hardest-hit regions is off to a smoother start

PM Igor Matovič and Health Minister Marek Krajčí are helping the sampling teams, too.

Trstená, the Tvrdošín district

No test, no work. Employees will have to take paid or unpaid leave

Those who will be quarantined with a positive test result will be entitled to pandemic sick leave.

Illustrative stock photo

Autumn holidays change, art schools close too

The ministry will contribute to schools to buy computers and other equipment for distance learning.

Illustrative stock photo