STATISTICS: CZECH. Rep., 1H2018 (CNB): positive trend equally driven by the MTPL and Motor Hull insurance lines
The market statistical data provided by the Czech National Bank for 1H2018 confirm the positive trend reported by the results published by the local insurers' association (CAP) one month ago. Yet, as the group of market players considered by each of the two reports is different, also the overall picture is somewhat different.
STATISTICS: CZECH Rep., 1H2018 (CAP): 5% market growth fueled mainly by the Motor Hull insurance line
According to data provided by the Czech Insurance Association (CAP), its members ended 1H2018 with GWP worth EUR 2.53 billion, 5.16% up y-o-y, an increase almost fully driven by the non-life segment, in particular by the motor insurance lines.
STATISTICS: CZECH REP., 1Q2018 (CAP): market increase equally supported by life, motor and corporate insurance lines
The Czech insurance market ended 1Q2018 with GWP worth EUR 1.32 billion, 10.8% up y-o-y. Non-life insurance lines had the largest contribution, reporting GWP of EUR 889.4 million, which is 12.7% more y-o-y.
VIG Group's Czech companies won multiple awards
Vienna Insurance Group's (VIG) companies Kooperativa and Ceska podnikatelska pojistovna (CPP) led the way in the Association of Czech Insurance Brokers' "Insurer of the Year" survey, taking the top two spots in all four of the main categories.
STATISTICS: Czech Rep., FY2017: 18.4% increase in the claims paid for property insurance after Hewart
According to statistical data published by the Czech National Bank (CNB), the local insurance market totaled CZK 150.83 billion (EUR 5.9 billion) in GWP terms, 2.5% up y-o-y (nominal, in local currency).
STATISTICS: Czech Rep. 3Q2017: MTPL and MoD generated together about one third of total GWP
At the end of September, the Czech insurance market amounted CZK 92.9 billion (about EUR 3.6 billion), representing a 3.8% y-o-y growth rate, according to the nine months market figures published by the Czech Insurance Association (CAP).
STATISTICS: CZECH Rep., 1H2017: Three insurers account for more than half of the market
The 26 Czech insurers, members of CAP - the Czech Insurance Association, reported in 1H2017 aggregate GWP of CZK 62.9 billion (~EUR 2.4 billion), up by 3.6% y-o-y.
STATISTICS: CZECH Rep., 1Q2017: 3.3% GWP growth; KOOPERATIVA pojistovna-VIG takes up the market leadership
In the first quarter of 2017 the 25 Czech insurers, members of local professional association (CAP), reported aggregate GWP of CZK 32.1 billion (~EUR 1.2 billion), up by 3.3% y-o-y.
CZECH Rep.: CSOB and Ceska posta signed 10-year agreement on banking and insurance services
Ceska posta (Czech Post) and CSOB Group (the Czech Republic Business Unit of Belgian KBC Group) concluded a 10-year partnership agreement on the provision of banking and insurance services.
STATISTICS: UPDATE: CZECH market totaled EUR 5.5 bilion in 2016
According to "ARAD time series database" available on the CNB website (Czech National Bank) - the local insurance industry totaled at the end of 2016 about CZK 147.22 billion (~EUR 5.45 billion).
ON THE MOVE
MILLI Re announced new Manager appointment
Turkish reinsurer MILLI Re stated that Gokhan AKTAS has been appointed to the position of Manager of Foreign Inward Business on 01 September 2018.
Catherine DUFFY to Join AIG as Country Manager of Bermuda
American International Group - AIG announced that Catherine DUFFY will join the company's General Insurance business as Country Manager of Bermuda, at a date to be determined.
LIVE: 1st National Reinsurers Summit in Moscow: focus on global cooperation
Today has started in Moscow the 1st National Reinsurers Summit "National Reinsurers: Focus on global cooperation". Organized by the Russian National Reinsurance Company (RNRC) with the support of the Central Bank of the Russian Federation, the conference has the xprimm.com insurance portal as Media Partner.
The challenges associated with digitization in the insurance sector discussed at the "Insurance in the Digital Future" Conference, in Ljubljana
On September 13, 2018, the Insurance Supervision Agency of Ljubljana organized its 4th conference on insurance. The subject of the event was Insurance in the Digital Future. Visit the event's web page to see the conference materials and photo gallery.
LIVE from Monte Carlo: The 62nd edition of the "Rendez-Vous de Septembre"
The 62nd edition of the "Rendez-Vous de Septembre", the annual traditional meeting of reinsurers starts Sunday in Monte Carlo. XPRIMM Publications covering the CEE, SEE and CIS insurance markets are available at the XPRIMM stand in Fairmont Hotel, as well as at the most important venues in Monte Carlo.
Munich Re: aggregation risk of cyber insurance is 'the elephant in the room'
Only 5% of cyber losses are insured, estimates Christian Fuhrmann, chief executive of global clients/North America, Munich Re. Very complex by nature and continuously changing, cyber insurance is one of the biggest challenges for insurers, he said.
AXA obtained approvals for XL acquisition. Last day of independence for XL Group
AXA announced today that it has obtained all regulatory approvals required to complete the proposed acquisition of XL Group previously announced on March 5, 2018. The acquisition is expected to close on September 12, 2018, pending the satisfaction of the remaining customary closing conditions.
FY2017 XPRIMM Property and Motor insurance reports to be launched in Monte Carlo
The latest editions of the XPRIMM Motor Insurance Report and Property Insurance Report will be launched in Monte Carlo, at the 62th edition of the "Rendez-Vous de Septembre," one of the most important international events dedicated to insurers, reinsurers, brokers, and reinsurance consultants.
Hannover Re: broadly diversified reinsurers with expertise and a very good rating will benefit from the current state of the market
Hannover Re expects to see stability in prices and conditions overall for the treaty renewals as at 1 January 2019 and promising opportunities for next year arising from digitalization, increased demand for coverage of cyber risks, as well as from various openings in the Asian growth markets.
Willis Re - Market still soft, but functional
Despite the high losses from 2017 the reinsurance market is still soft, James KENT, Global Chief Executive Officer (CEO) of Willis Re stated at a press briefing in Monte Carlo.