Czechia
STATISTICS: Czech Insurance Association: Insurance market growing thanks to MOD insurance
At the end of March 2016, the Czech Republic insurance market totaled CZK 31.12 billion (about EUR 1.15 billion), 1.27% more y-o-y, according to the results of the members of the Czech Insurance Association (CAP). The most dynamic sector in non-life insurance is collision insurance. Collision insurance (n.red.: MOD insurance) strengthened year-on-year by 9.2% and helped to maintain the continuing growth of the entire non-life segment", CAP annoucend in a press release.
2 June 2016CZECH REPUBLIC: CSOB net profit falls 13 percent in Q1
CSOB says Q1 net profit down 13 percent y/y to CZK 3.3 billion (USD 139.03 million), impacted by banking taxes, declining margin, lower fees.
23 May 2016STATISTICS: Czech Rep., FY 2015: CNB official statistical data published; market trends confirmed
Insurance market data for 2015 published by the Czech National Bank (CNB) confirm the GWP growth on the non-life insurance segment, at a pace of 4.9%, to CZK 90.98 billion (EUR 3.37 billion). Life insurance GWP went down by 12.3%, according to CNB data, while the entire market recorded an almost 3% decrease, to CZK 153.4 billion (EUR 5.67 billion).
17 March 2016STATISTICS: Czech Insurance Association: The market was backed up by non-life insurance in 2015
The preliminary results of the Czech Insurance Association (CAP) for 2015 show an annual increase of CZK 1.1 billion, which is a 1% rise, in the premium volume. Premium growth accelerated in the second half of the year compared to a 0.3% increase in the first half. Same as last year, the insurance market is backed up by non-life insurance, which strengthened by 4%. Life insurance, on the other hand, is continuously weakening, namely by 3.5% in comparison with 2014.
25 February 2016STATISTICS: CZECH Rep., 3Q2015: Traditional life contracts pushed down the market's aggregate result
The Czech insurance market totaled at the end of the first three quarters of 2015 about CZK 116 billion (EUR 4.3 billion), 3.6% less y-o-y, according to data provided by the Czech National Bank (CNB). Non-life segment reported a positive dynamic in GWP (+4.8% y-o-y to CZK 69.2 billion), while the life insurance segment contracted by 13.7% to CZK 46.8 billion.
17 December 2015CZECH REP.: Green light for ALLIANZ to buy WUSTENROT insurance business
The Czech antitrust watchdog (UOHS) announced it allowed the Czech insurance branches of financial group WUSTENROT & WURTTEMBERGISCHE (the non-life insurer WUSTENROT Pojistovna and the life insurer WUSTENROT Zivotni Pojistovna) to be aquired by the German group ALLIANZ.
9 December 2015STATISTICS: The Czech Rep., 3Q2015: Reinvigorated cars sales support the non-life insurance market growth
The Czech insurance market ended the first three quarters of 2015 with GWP of EUR 3.23 billion (CZK 87.96 billion), 1.87% up y-o-y, according to data provided by the Czech Insurance Association (CAP). Non-life recorded a positive change in GWP, acting thus as the market driver, while the life insurance segment saw a further decrease in premiums.
12 November 2015STATISTICS: CZECH Rep, 1H2015: Record decline in single premium life insurance products
According data provided by the Czech National Bank, in the first half of 2015 the Czech insurance market saw a 5.7% decrease in GWP (or 4.99% decrease for the market results denominated in European currency), to CZK 78.2 billion (EUR 2.87 billion). The life insurance segment is entirely responsible for the negative trend, mostly because of the huge decrease in single premium insurance products sales.
24 September 2015STATISTICS: CZECH REPUBLIC, 1Q2015: Stagnation continues, sole trader insurance is growing
The results of the Czech Insurance Association (CAP) member companies for the first quarter of 2015 show an increase of 0.5% in total annual premiums. Market stagnation mainly results from an ongoing decline in life insurance reaching almost 3%. Non-life insurance is still experiencing a mild recovery, namely from 2.3% at the end of 2014 to 2.6%.
17 June 2015CZECH REPUBLIC: VIG insurance written premiums down to EUR 457.8m in Q1
The Czech unit of the Vienna Insurance Group (VIG) saw a 1.8 pct decline in written premiums to EUR 457.8m in Q1 2015.
26 May 2015CZECH REPUBLIC: EGAP insured exports totalling CZK 720bn since 1992
The Export Guarantee and Insurance Corporation (EGAP) insured exports totalling CZK 720bn (EUR 26bn) since 1992. The export headed into more than 100 countries of the world, primarily risky territories.
14 April 2015CZECH REPUBLIC: Pojistovna CS invests millions of Czech crowns in IT
Czech insurance company Pojistovna Ceske sporitelny, Vienna Insurance
Group (Pojistovna CS) invests millions of Czech crowns in IT. Besides
the biometric signature, it offers also applications to secure
information about insurance, or model contracts (SmartClient), CIANEWS
was told by company spokeswoman Jana Jiraskova. According to her words,
the insurance company wants to allow insured event reports online,
introduce a client portal with information about policies and it wants
to focus on multi-channel communication in the future.
16 March 2015KOOPERATIVA- VIG: One third of homes and half of contents still uninsured in the Czech Republic
KOOPERATIVA pojistovna - VIG, the second largest insurer in the Czech market, paid CZK 1.5 billion (~EUR 54 million), for 21,000 claims arising from the natural disasters in 2014. By comparison, in the previous year 23,000 similar claims were reported, with a total value of CZK 2 billion, of which CZK 1.6 billion were paid only for the damages produced by the June floods which affected the territory of the Czech Republic in 2013.
18 February 2015STATISTICS: CZECH Rep., FY2014: Despite the positive trend in motor insurance, market doesn't take off yet
Hopes for a strong recovery of the insurance market were not confirmed as the full year figures of the CAP - the Czech Insurers Association show only a very small growth in terms of GWP (1.05%), to CZK 115.19 billion. In European currency, given the significant depreciation of the Czech koruna, the total GWP amounted to EUR 4.15 billion, a value close to the one from 2013.
18 February 2015STATISTICS: CZECH Rep.: Mild recovery, but still dealing with the MTPL line's imbalances
According to third-quarter figures of the Czech National Bank, the sector's supervising authority, the Czech insurance market development shows no unexpected major changes. Annual premiums totalled CZK 120.23 billion, 2.6% up y-o-y. Both life and non-life insurance segments saw a positive evolution in terms of GWP.
8 January 2015CZECH REPUBLIC: Ice storm hits rail operators and insurers but has little impact on manufacturers or construction firms
An ice storm that has affected the Czech Republic in the last couple of
days has hit insurers and rail operators, with the latter providing
compensation to passengers, but has had little impact on manufacturing
and construction firms.
4 December 2014Insurance prescribed by VIG decreased by 2.8% in nine months in the CZECH REPUBLIC
The profit of VIG insurance group, parent company of Kooperativa pojistovna and CPP, prior to taxation reached a total of EUR 127.6m for January to September of 2014. This represents a year-on-year decrease by 11.9%. Gross insurance prescribed by the group in the Czech Republic has decreased year on year by 2.8 % to EUR 1.28bn. Out of this, the segment of life insurance posted 2.7% growth to EUR 645.4m and non-life insurance posted a decrease by 7.9% to EUR 635.2m.
21 November 2014The TRIGLAV Group exits the Czech insurance market and focuses on strengthening its operations in the South-East Europe target markets
TRIGLAV Group exits the Czech market by selling its local subsidiary TRIGLAV pojistovna, Brno to VIGO Finance, part of VIGO Investments Group. The sale is expected to be completed by May 2015. The decision on the sale is in line with the TRIGLAV Group Strategy, focused on increasing the value of the Group and effectively managing the TRIGLAV Group's subsidiaries. Zavarovalnica TRIGLAV estimates that the sale of the subsidiary will have no major impact on the Group's performance.
20 October 2014STATISTICS: CZECH Rep. 1H2014: positive trend driven by single premium life insurance products and improving MTPL tariffs
The slightly positive trend of the Czech insurance market continued in the first half of 2014, with an overall increase in GWP of 3.6%, to CZK 82.95 billion. However, the almost 6% depreciation of the Czeck currency against the euro made the market results to show a negative change of 2% when denominated in euro, to EUR 3.02 billion.
2 October 2014CZECH REPUBLIC: The largest insurance broker RENOMIA continues to grow
RENOMIA GROUP, the largest group of insurance brokers on the market in
the Czech Republic, closed out the 2013 fiscal year with a record amount
of insurance premiums negotiated, reaching CZK 5.3 billion, an increase
of 10%. It has thus confirmed its leading position on the Czech
insurance market. In 2013 RENOMIA, a.s. achieved a consolidated pre-tax
profit of CZK 94 million.
11 September 2014
