"According to CAP methodology, the market grew year on year by about CZK 1.32 billion in premiums. The market growth rate of 4.8% reported for the whole of 2018 thus decreased slightly to the analysed period to 3.9%, "said Petr JEDLICKA, Chief Analyst, CAP.
At the same time, "the market development in 1Q 2019 was strongly influenced by the reported claims which were the largest in the last nine years following to the weight of snow and storms".
For example, the claims caused by the weight of snow in 2019 amounted to CZK 159 million, which represents the highest amount from this risk since 2012. "This winter, insurers dealt with a total of 6217 insured events connected with snowfall, which represents a tenfold increase in comparison with Slovakia, "says Petr JEDLICKA.
During Q1 2019, the total number of claims connected with snowfall and snowstorms reaches record levels in 2019 since 2011. "The number of claims amounted to 34 thousand for CZK 856 million, which exceeds the 2011 annual average by about four times (9,163 claims by CZK 186 million)".
In terms of GWP, of 27 active members, the largest insurers in the country were KOOPERATIVA VIG (24.7%market share), followed by CESKA pojistovna (20.7%) and ALLIANZ pojistovna (10.4%).
Access www.xprimm.com and download the following Q1 2019 market data in EUR and CZK:
- Market Portfolio (CAP)
- growth rates
- Insurance Companies Rankings (CAP - premiums, shares, growth rates) on the followings LoBs: