STATISTICS: CZECH Rep. 1Q2022: GWP worth EUR 1.7 billion for the CAP members

16 June 2022 —
STATISTICS:  CZECH Rep. 1Q2022: GWP worth EUR 1.7 billion for the CAP members
According to the quarterly figures published by the Czech Insurance Association (CAP), at the end of March 2022, the total written premiums the CAP members amounted to CZK 40.66 billion (~EUR 1.66 billion), up by 8.53% y-o-y.

Premiums written in life insurance rose by 4.06% y-o-y to CZK 12.7 billion (EUR 519.10 million according to XPRIMM calculations). CAP representatives mentioned in a statement that regular paid contracts, which represent approximately 95% of all life insurance contracts, the growth rate increased from 3.1% last year to the current 4.7%, while despite the volume of single premiums contracts declined by 22%, has only a marginal impact on the overall result.

"The total number of life insurance contracts continues to decline. There are 2.2% fewer y-o-y, which corresponds to a decrease of about 109 thousand. There are currently 4,908,000 active contracts remaining", said Jaroslav Urban, insurance analyst at the Czech Insurance Association.

In Non-life insurance, the growth of written premiums accelerated significantly by 10.68% y-o-y to CZK 28 billion (~EUR 1.15 billion).

Vehicle insurance, which currently has exactly a 50% share in non-life insurance, continues to be dominant. In motor third party liability insurance, the written value reached CZK 7.31 billion, ie 3.82% more than in the same period last year. In voluntary MoD insurance, premiums written grew by 8.50% and reached CZK 6.72 billion.

Jaroslav Urban mentioned that "this trend is partly supported by the ever-increasing portfolio of insured vehicles, whose number is currently rising by 2.2% and a total of almost 8.8 million are insured. The number of insured vehicles is growing similarly, by 4% y-o-y".

At the end of March 2022, in terms of GWP (life and non-life premiums, summed-up), the largest insurers in the country were Kooperativa (25.96% market share), Generali Ceska pojistovna (24.45%) and Allianz (10.71%).

Access and download the Q12022 Czech insurance market statistics.