The insurance market of Czech Republic ended the first 9 months of the year with GWP of CZK 126.5 billion (EUR 4.6 billion), up by 1.44% y-o-y, according to the figures published by the Czech National Bank (CNB).

Claims paid by local insurers totaled CZK 68.3 billion (EUR 2.5 billion) down by 9.7 y-o-y, of which 60% related to non-life insurance, the remaining 40% being related to life insurance subclasses.

For the life segment, the GWP value (including reinsurance) decreased by 13% to CZK 38.89 billion, while the value of paid claims and indemnities - including the change in balance of technical provisions, totaled CZK 27 billion. In the case of general insurance segment, the same indicators were as follows: GWP of CZK 87.64 billion (up by more than 10% y-o-y) and January-September 2020 payments of CZK 41.24 billion, 1% more y-o-y.

At the same time, the total 9 months GWP of the members of the Czech Insurance Association amounted CZK 106.1 billion (EUR 3.9 billion) down by 1.7% y-o-y, informed Czech Insurance Association.

The largest insurerin the country was GENERALI CESKA Pojistovna (27% market share), followed by KOOPERATIVA VIG Pojistovna (23%) and ALLIANZ pojistovna (11%), according to the CAP figures.

Access xprimm.com and download the Q3 2020 Czech insurance market statistics.