Slovak Republic

Slovakia – still a growing economy

After several years of fast economic growth, Slovakia has become recognised as one of the region’s most stable economies. The private sector is proving robust with both financial services and manufacturing providing significant economic engines.

The economy has benefitted from significant inward investment from a range of internationally-known companies, many from Germany and Austria.

The Slovak Republic has built a strong foothold in the automotive industry, with state-of-the-art factories producing cars from three of Europe’s best-known brands – VW, Citroen and Peugeot, together with Korean manufacturer KIA. As well as providing a significant source of local employment, these companies have also become pillars of the economy through providing work for hundreds of locally-based specialist parts suppliers.

In 2009 Slovakia adopted the Euro as its national currency, becoming the first country in Central and Eastern Europe to do so.

Healthy growing market

The continued improvement in standards of living in the country has been mirrored by a similar growth in the insurance sector, with the launch of many new products and services, often provided by well-known international insurers entering the local market.

There has been a significant shift from standard property and casualty insurance, to new lines and products, such as medical and accident group insurance, employee benefits, professional liability and life insurance.

Trusted, experienced team

MAI CEE’s Slovakian team is recognised for providing our domestic and international clients with professional advice, risk management and risk transfer solutions, and claims settlement solutions.

Our approach to client service is professional and individual, and strongly focused on developing quality and adding value. Our aim is to ensure that our clients get the products that are most appropriate to their needs and tailored to their specific requirements.