CZECH REPUBLIC, 3Q2012: Slow growth driven by life insurance

19 November 2012 — Vlad BOLDIJAR
CZECH REPUBLIC, 3Q2012: Slow growth driven by life insurance
czech-statisticsCzech insurance market confirmed its already traditional stability, showing a slow growth in 3Q2012. Total gross premiums written by the 31 insurers reunite by the Czech Insurance Association grew by about 0.2% y-o-y, representing an increase in absolute value of CZK 153 million. In European currency, due to the Czech koruna depreciation in relation to EUR, the local insurance industry reported a 0.3% decrease, to almost EUR 3.48 billion.

The non-life GWP reached the value of CZK 52.05 billion, 1.2% less compared with January-September 2011, while the gross written premiums in life insurance business amounted to CZK 34.43 billion, up by 2.3% y-o-y.

One of the reasons for the decrease of non-life insurance is the lower volume of GWP in both motor insurance classes: -5.5% in case of MTPL, while the Motor hull insurance class decreased by almost 2%. At the same time, the corporate insurance lines (industry & business insurance according to the CAP's clasification) recorded one of the best performances in terms of dynamic, among the non-life line, at the rate of 2%.

In case of life insurance, single-payment policies stagnated at the value of CZK 2.15 billion, while current-premiums increased by 2.4% y-o-y, as Czech Insurance Association informed.

Note: Additional information will be published as soon as the official 3Q2012 statistics of the Czech National Bank will be released.

Access and download the 3Q2012 Czech Republic insurance market statistics.

Market portfolio (in EUR and CZK) according to the Czech Insurance Association (CAP):
  • Gross written premiums
  • Growth rates
Market rankings in EUR and CZK (GWP/Market shares/Growth rates) according to the Czech Insurance Association (CAP):
  • Overall market ranking
  • Life insurance ranking
  • Non-life insurance ranking
  • MTPL insurance ranking
  • Motor hull insurance ranking