The Czech insurance market totaled CZK 230.43 billion (EUR 9.15 billion) at the end of 2024, up by 8.13% y-o-y in national currency, according to the year-end figures published by the Czech National Bank (CNB).

Claims paid by local insurers totaled CZK 138.43 billion (EUR 5.49 billion) up by almost 27% y-o-y, of which CZK 38.5 billion related to property insurance, who saw a huge increase (156%) in the claims paid following the September floods in Czechia.


For the life segment, the GWP value (including reinsurance) grew slightly, by 6.6% y-o-y to CZK 57.73 billion, while the non-life insurance market expanded by over 8.64% y-o-y to CZK 172.7 billion.

The year-end figures released by the local professional association - CAP (Czech Insurance Association), are somewhat different of the CNB results because of different scope of their respective statistical results. However, the dynamics shown by the two sets of data are similar. According to CAP records, costs incurred for insurance claims for their clients and other injured parties in the amount of CZK 128.26 billion in 2024, which shows an enormous y-o-y increase of 28.5%, or CZK 28.4 billion. Standard frequency damages from natural elements other than the September floods are also increasing y-o-y, shows a CAP analysis. As such, the total costs of insurance claims for 2024 total CZK 37.4 billion, which, compared to the amount of CZK 14.97 billion in 2023, represents an increase of 150%.


Access xprimm.com and download the FY2024 Czech insurance market statistics released by CNB and CAP.