Czech Republic

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Location map
author: OCHA/ ReliefWeb


Location:
- Central Europe;
- Neighbours: Austria, Germany, Poland, Slovakia.

Climate:
- temperate;
- cool summers;
- cold, cloudy, humid winters.

Natural hazards:
- flooding.

Macro indicators
* 2018 estimates
Surface:78,866km2
Population*:10.6million
Pop. density*:134.3people/km2
GDP*:204.5EUR billion
GDP/capita*:19,301.7EUR

European Union:
EU member, since 2004

Currency: Koruna
Code: CZK
Since: 1993


Insurance market portfolio
* 2018 CNB estimates
TOTAL LIFE*:36%
TOTAL NON-LIFE*:64%
Overall Property*:16%
Overall Motor*:28%


Sources:



 


Statistics

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Czech Rep FY2020 Market Portfolio And Rankings C A P

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Czech Rep 3Q2020 Market Rankings C A P


See all statistics

Latest news


CZECH Rep.: Life and motor, the drivers of the falling trend

Czech insurance market ended 1Q 2012 with a GWP y-o-y decrease of about 6.7%, to CZK 39.74 billion (EUR 1.6 billion).  Paid claims also decreased by 1.2%, to CZK 21.9 billion (EUR 885.5 million). According to CAP, the Czech association of insurers, the main sources of the declining GWP volume were the decline of the life insurance lines, mainly the single premium line, and the persistent drop in insurance premiums for motor classes.

CZECh Rep. - Insurance Brokers have chose KOOPERATIVA-VIG as best insurer

The Association of Czech Insurance Brokers (ACPM) has recently announced the results of the 12th edition of its annual survey of insurance companies, realized in cooperation with the Czech Insurers Association and oPojisteni.cz, a specialized financial portal. In the categories of industrial and business insurance, personal insurance and life insurance, first place went to KOOPERATIVA Pojist'ovna - VIG, while ALLIANZ Pojist'ovna won in the car insurance category and EVROPSKA Cestovni Pojist'ova was awarded the prize for the specialized insurance category (travel insurance).



CZECH REP., FY2011: Insurance market declined slightly, Central Bank

Czech Republic gross written insurance premiums decrease slightly last year, to CZK 155.08 billion (EUR 6.01 billion), according to the financial indicators published by the Czech National Bank (CNB). These results confirm the market trend resulting from data collected by the insurers' association (CAP).

CZECH REPUBLIC: Ceska pojistovna decreased its net profit by two thirds in 2011

Ceska pojistovna (CP) (Prague, Czech Republic), insurance company, decreased its net profit by two thirds to CEK 3.55 bil in 2011 compared to 2010. CP collected by 10% less premiums in 2011 compared to 2010. Profits of other insurance companies in the Czech Republic decreased in 2011 as well. Insurance companies in the Czech Republic collected premiums of CEK 116.3 bil in 2011, according to Czech standards, a decrease by 0.3% compared to 2010.

CZECH REPUBLIC: Giant merger of health insurance companies is being prepared

Ceska prumyslova zdravotni pojistovna (CPZP) (Czech Republic), health insurance company, will merge with the rival health insurance company Metal-Aliance (MA) (Czech Republic) in 2012. A health insurance company with 1.2 mil insured people and more than 130 subsidiaries will be estabished by the merger. The merged company will become the number two on the Czech market following the state health insurance company Vseobecna zdravotni pojistovna (VZP) (Czech Republic). MA approved the merger with CPZP in spite of the fact that state representatives in MA's managing board had not supported the merger.


CZECH REPUBLIC: Government to merge two big health insurance companies

The Czech government is planning a merger of two big health insurers, the Interior Ministry Health Insurance Company (ZPMV) and the Military Health Insurance Company (VoZP), Health Minister Leos Heger (TOP 09) said in a Prima Family Television discussion programme Sunday.

CZECH Rep: dropping motor insurance prices cast the market in negative territory

After succeeding to surpass the crisis' peak without leaving the positive territory, the Czech insurance market ended its 2011 "in red", for the first time after many years of growth. According to the statistics recently published by CAP (Czech Insurers Association), its member companies, accounting for a 98% share of the domestic market, collected Kc116.3 billion in premium, which is a 0.3% lower figure than in 2010. In European currency, the GPW volume reached EUR 4.51 billion, 3.15% down as compared to 2010, being also negatively impacted by the 3% y-o-y depreciation of the Czech Kroon's exchange rate.

CZECH REPUBLIC: VZP may end 2012 in Kc 3 bln loss

State-owned insurance group Vseobecna zdravotni pojistovna (VZP) is projected to end 2012 with a Kc 3 billion loss after ending last year Kc 5 billion in the red, Radiozurnal reported on Friday.

CZECH REPUBLIC: Czech health insurance companies to spend more on Rx drugs due to VAT increase

Health insurance companies' yearly spending on prescription drugs will increase by CZK 1.31bn (€50.8m) due to the VAT increase on medicines from 10% to 14% in 2012, according to the Czech State Institute for Drug Control (SUKL). In case of certain drugs dispensed by pharmacies directly to doctors and healthcare facilities to cover the needs of their patients, health insurance companies will have to increase reimbursement expenditure by CZK 487.3m (€18.8m).

CZECH Rep.: Unit-linked products continue to develop favorably

Czech Republic's insurance companies posted combined gross written premiums of EUR 4.77 billion (CZK 118 billion) in 3Q2011, up 2.3% (in European currency) from a year earlier, according to the financial indicators published by the Czech National Bank (CNB). These results confirm the data collected by the insurers' association (CAP), released in November, 2011.

Czech Republic: UNIQA beats market growth by five times

In the first three quarters of 2011 the Czech subsidiary of UNIQA increased its premium volume to EUR167.7 million (CZK 4.093 billion). In relative terms, the company managed to report an over 11% growth rate, substantially outpacing the market dynamic, of 1.8%. This put the company on the 10th place among the more than 40 insurance companies on the market in the Czech Republic, announced last week the insurance group.


CZECH REPUBLIC: Kooperativa is one of the country's top 5 companies again

In the ranking of the "100 best Czech businesses", Kooperativa, the leading Vienna Insurance Group company in the Czech Republic achieved the excellent fourth place. In the "Financial Services" category the insurer came top, achieving first place, an outstanding result. This means Kooperativa is continuing to maintain the very good ratings achieved in recent years and is strengthening its position as a major player in the Czech economy.

CZECH REPUBLIC: PPF Group rapidly offloading stake in Italy's Generali

Since November 25, the PPF Group controlled by Czech billionaire Petr Kellner has sold around 4.5 million shares in Italian insurance group Generali for €54.4 million (around Kc 1.37 billion), the weekly Tyden has reported. The shares sold to date account for 14 percent of the Netherlands-registered investment group's stake in the Italian insurer.

CZECH REPUBLIC: Czech insurer VZP audit of IZIP shows millions 'vanished'

An audit has revealed that tens of millions of crowns that VZP, the largest Czech health insurance firm, paid to the electronic medical records company IZIP ended up in the coffers of firms controlled by its representatives, raising suspicions of corruption, local media reported.

CZECH REPUBLIC: Third Party Insurance Is The Cheapest For Five Years

Price of third party insurance, obligatory for all 6.6 mil cars registered in the country, decreased to the lowest level for the past five years in 2H 2011. It is a result of competition among totally 13 insurance companies working on the third party insurance market in the Czech Republic.