STATISTICS: CZECH Rep., 1Q2017: 3.3% GWP growth; KOOPERATIVA pojistovna-VIG takes up the market leadership

In the first quarter of 2017 the 25 Czech insurers, members of local professional association (CAP), reported aggregate GWP of CZK 32.1 billion (~EUR 1.2 billion), up by 3.3% y-o-y.

Of total sum, 34% (CZK 10.9 billion) was generated by life insurers, the remaining 66% being related to non-life subclasses (CZK 21.2 billion). In terms of growth rates, life insurance GWP decreased by about 0.5% y-o-y, while the two motor lines reported growth rates of 8.8% (MoD) and 3.3% (MTPL).

It is worth mentioning that according to the "ARAD time series database" available on the CNB website (Czech National Bank) - the local insurance industry totaled at the end of March about CZK 39.3 billion (~EUR 1.5 billion). Data published by CNB include the results for the domestic insurers and branches of foreign companies (51 companies). For the life segment, the aggregate GWP value (incl. reinsurance) was CZK 14.6 billion (EUR 541 million). For the non-life segment, the same indicator was CZK 24.7 billion (EUR 914 million).

In order to see the full list of the Czech domestic insurers and branches of foreign companies, as well as which of the companies are CAP members, click here.

According to CAP figures, at the end of March 2017, the largest insurer in the contry in GWP terms was KOOPERATIVA pojistovna part of Austrian Vienna Insurance Group: GWP of CZK 7.1 billion (5%more y-o-y) or 22% market share. Established in 1991 as the first commercial insurance company on the territory of former Czechoslovakia, KOOPERATIVA is one of the largest VIG unit outside Austria.

CESKA pojistovna - the leading insurance company under GENERALI CEE Holding and the oldest Czech insurer- ranked second (GWP of CZK 6.9 billion, 21.7% market share) followed by the local subsidiary of the German insurer ALLIANZ.

Access www.xprimm.com and download the preliminary 1Q2017 Czech Republic insurance market statistics in EUR and CZK:

· GWP portfolio / growth rates / shares according to CAP & CNB;

· Market rankings (according to CAP) on the following segments: total market / life / non-life / MoD / MTPL.

Follow XPRIMM Publications on LinkedIn, for more data on the insurance and financial industry.

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