The Czech insurance market ended 2013 with a modest premium growth of 1.9% y-o-y, to GWP of CZK 156.5 billion, showing an already traditional picture of steadiness. However, in European currency, following the about 9% depreciation of the Czech kroon over the last 12 months, the overall market results show a negative change of 6.6% y-o-y, to a total amount of GWP of EUR 5.7 billion.

The life insurance segment recorded a negative trend both in local and European currency, as the unit-linked line of business, the most relevant in terms of portfolio share among the life insurance lines, has recorded a 8% y-o-y fall in local currency (-15.7% in euro).

On the non-life side, GWP amounted to CZK 84.95 billion (EUR 3.1 billion), recording a 4.16% growth in local currency (-4.5% in euro). Credit insurance, with a 22.15% growth rate was the business line showing the best dynamic. However, due to its very low share in the market portfolio, its contribution to the market dynamic remains rather discrete. Motor insurance performed well on the MTPL line (7% growth in GWP, to CZK 21.7 billion), but continued to loose ground on the Motor Hull class which recorded a steady evolution in local currency (GWP of CZK 14.5 billion) and a 8.5% decrease in premium for the results denominated in euro.

The same uneven evolution was recorded for the two property insurance lines: while on the fire and allied perils line the GWP amount decreased by about 5%, on the damages to property line a 14.4% growth in underwritings was recorded. All in all, the property insurance segment ended 2013 with a 2.8% increase in premium, to CZK 21.44 billion.

Paid claims rose by 14% y-o-y, mostly because of the almost 75% increase in claims paid for the fire insurance line following the extreme floods of the 2013 summer.

Access www.xprimm.com and download the FY2013 Czech Republic insurance market statistics.

Market portfolio (in EUR and CZK) according to the Czech National Bank (CNB):

• Gross written premiums
• Growth rates
• Paid claims
  

Market rankings in EUR and CZK (GWP/Market shares/Growth rates) according to the Czech Insurance Association (CAP):

• Overall market ranking
• Life insurance ranking
• Non-life insurance ranking
• MTPL insurance ranking
• Motor hull insurance ranking