STATISTICS: CZECH Rep., 1H2018 (CAP): 5% market growth fueled mainly by the Motor Hull insurance line

According to data provided by the Czech Insurance Association (CAP), its members ended 1H2018 with GWP worth EUR 2.53 billion, 5.16% up y-o-y, an increase almost fully driven by the non-life segment, in particular by the motor insurance lines.

Given the slightly appreciation of the Czech Kroon against Euro, the market results denominated in the European currency show higher growth rates. Thus, in local currency, the market growth rate was of 4.46% y-o-y.

With GWP increasing by only 1.6% y-o-y, the life insurance segment has lost about 1 percentage point of its share in the market portfolio, accounting for about 33.4% of the total GWP.

In absolute terms, the most consistent contribution to the market growth came from the Motor Hull insurance line, which recorded an extra GWP volume, as compared with 1H2017, of EUR 35 million, thus recording the highest growth rate in the portfolio, of 10% (in Euro).

CESKA Pojistovna, remained the market leader, with a 21.46% market share, closely followed by KOOPERATIVA Pojistovna (19.9%), while the local subsidiary of the ALLIANZ Group ranks third (10%). It is worth noting that the market leader, CESKA Pojistovna recorded a very high growth rate right on the Motor Hull line, about EUR 15 million of the total EUR 35 million growth in absolute terms on this class being provided by the market leader.

Access www.xprimm.com and download the H1/2018 Czech insurance market statistics.

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