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


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.


CZECH insurance claims and damages rise in 2017

Insurance claims in the Czech Republic climbed top around 284,000 in 2017, an increase of around 31 percent, on the previous year, the Czech Insurance Association has announced.



CZECH REPUBLIC: Windstorm claims three lives in Czech Republic

The powerful storm that hit Central Europe on Sunday claimed three lives in the Czech Republic as a man hit by a falling tree in Bela pod Bezdezem, central Bohemia, died of his injuries in the Liberec hospital, its spokesman Vaclav Ricar confirmed to CTK on Monday.







CZECH insurance market in 2020: are you ready for the digital revolution?

Marking the first anniversary of Willis Towers Watson's Prague office, we are delighted to present our report into the prospects for the Czech insurance industry in the years to 2020. In this unique survey of 49 senior insurance executives from across the industry - insurers, reinsurers, intermediaries, academics and industry associations - we sought to identify the key trends, risks, opportunities and keys to success for insurance companies.

CZECH REPUBLIC: Unipetrol gets another insurance compensation

Unipetrol received another insurance compensation at USD 40mln (CZK 1bn) related to FCC unit accident at Kralupy. It is the first compensation linked to Kralupy unit that increases total amount received to CZK 8.9bn (CZK 7.9bn received in 2016 linked to Litvinov unit). This increases chances for dividend announcement (setting up official dividend policy) around mid of March when Company plans to publish its new strategy.


STATISTICS: Czech Rep., 3Q2016: The decreases in life insurance pushed down the aggregate figure

At the end the third quarter of 2016, the Czech Rep. insurance market totaled CZK 111.6 billion (EUR 4.1 billion), 3.7% less y-o-y, according to the market statistics published on the Czech National Bank website. If the life insurance segment reported an 8% y-o-y decrease (to EUR 1.6 billion), the non-life insurance maintained at about the 3Q2015 level: GWP of EUR 2.5 billion.

CZECH REPUBLIC: New Obligations for Large Companies

In accordance with the EU directive 2014/95/EU, business corporations with more than 500 employees that qualify as large undertakings and public-interest entities as defined by the Czech act on accounting (these include, for instance, banks, insurance companies or large companies with securities admitted to trading on an-EU regulated market) are subject to so-called non-financial reporting starting January 1, 2017.

STATISTICS: CZECH REP., 3Q2016: Motor policies maintained the market on the upward trend

According to data released by the Czech Insurance Association (CAP), in 3Q 2016 the insurance market has been driven by non-life insurance segment which reported a y-o-y growth rate of 4.2%, while life policies continues to decrease by about 2.1%. Overall, the aggregate GWP increased slightly by CZK 1.61 billion (to CZK 89.57 billion or EUR 3.32.billion), which corresponds to a y-o-y growth rate of 1.8%.