CESKA Pojistovna (CP), the largest insurance company in the Czech Republic, reported for January-September 2012, according to the international accounting standards, a net profit of CZK 2.80 billion (EUR 110 million), CZK 200 million less compared with the same period previous year.

At the same time, total assets of CP for the first three quarters of 2012 reached CZK 119 billion - EUR 4.8 billion, (+2% y-o-y), being "the highest capitalized insurance company in the domestic market. Our shareholders' equity at the end of September 2012 amounted to CZK 19.7 billion and grew by more than 12% on a year-on-year basis," said Pavel REHAK, CP's CEO.

Total gross premiums written by CP reached CZK 24.2 billion (EUR 1 billion), 4.8% lower than in the same period a year ago. In non-life insurance, the premiums written amounted to CZK 15.2 billion, while in life insurance, to CZK 9 billion. "If there are no significant changes on the market, we are ready to begin to grow again in the key areas over the next year." declared Pavel REHAK.

In terms of market positioning, CP remained the absolute leader of the Czech insurance market, even if its market share has been decreasing by 0.9% to 26.5% (according to the methodology of the Czech Insurance Association - CAP).

The 31 insurers reunited by the CAP collected premiums of CZK 86.48 billion (EUR 3.48 billion) in the first nine months of 2012, up by 0.2% y-o-y, as the data from the association showed.

CESKA Pojistovna is part of GENERALI PPF Holding (active in fourteen CEE countries), a joint venture of the Italian insurance and financial group Assicurazioni GENERALI (51% stake) and the Czech PPF Financial Group (49%).