The Czech insurance market ended the third quarter of 2022 with GWP worth CZK 151.47 billion (EUR 6.17 billion), up by 12.55% y-o-y, according to the end-September figures published by the Czech National Bank (CNB).

According to the CAP (Czech Insurance Association) quarterly figures, at the end of September 2022 the aggregate GWP reported by member companies totaled CZK 119.2 billion (EUR 4.9 billion) up by 7.5%, or by almost CZK 8.4 billion.

CAP - The Czech Insurance Association announced in a statement the renewed structure of its highest body. As it does every two years, the assembly of association elected the nine members of its Presidium.

The analysis of the Czech Accident Portal shows a long-term growing trend of increasing the number of accidents with animals. While there were 897 accidents in the second quarter of 2010, there were 4,041 accidents in the second quarter of 2022, the Czech Insurance Association said.

Every Czech has at least one insurance policy according to a Survey published by Czech Insurance Association - CAP, about the perceptions of the insurance industry and conducted by the independent research agency SC&C.

Czech insurance broker INSIA becomes part of the Polish UNILINK group, as INSIA informed here. According to the statement, UNILINK Group has acquired 80% of INSIA from Marsh.

On October 28, 2022, ERGO pojistovna changed its name to SV pojistovna, opojisteni.cz wrote here. Thus, the change of ownership of insurer to the German financial group SV Holding AG based in Dresden completed in November 2021, is publicly visible, opojisteni.cz informed.

According to the latest information provided by the Czech National Bank (CNB), the insurance market ended 1H2022 with GWP worth EUR 4.094 billion, up by 17.18% y-o-y. The strong upward trend was given by the non-life insurance sector, which non only dominated the portfolio (72.7% of total GWP), but also saw an almost 23% y-o-y increase in premiums.

According to the H1 2022 figures released by the Czech Insurance Association - CAP, the aggregate GWP of member companies reaches at the end of June 2022 - the value of CZK 80.1 billion (EUR 3.2 billion) up by 7.8% y-o-y.

Paid claims for fire damages in the Czech Republic throughout the first half of the year amounted to about CZK 1.4 billion (EUR 56.8 million), while damages from storms reached approx. CZK 1.2 billion (EUR 48.7 million), the Czech Association of Insurers (CAP) said.

According to a current survey, Czechs would most often turn to the Czech Association of Insurance Companies (CAP) in the event of disagreements with an insurance company. Either directly or through the Office of the CAP Ombudsman, whose main task is consumer protection.

The Q1 2022 figures published by the Czech National Bank (CNB) show that the local insurance industry totaled about EUR 2.1 billion - CZK 51.4 billion, up by 15% y-o-y.

According to the quarterly figures published by the Czech Insurance Association (CAP), at the end of March 2022, the total written premiums the CAP members amounted to CZK 40.66 billion (~EUR 1.66 billion), up by 8.53% y-o-y.

The insurance market of Czech Republic totaled CZK 179.80 billion (EUR 7.22 billion) at the end of 2021, up by 6.92% y-o-y, according to the year-end figures published by the Czech National Bank (CNB).

Claims paid by local insurers totaled CZK 101.91 billion (EUR 4.09 billion) up by 10.78 y-o-y, of which 61% related to non-life insurance, the remaining 39% being related to life insurance subclasses.

For the life segment, the GWP value (including reinsurance) remained at the 2020 level (~CZK 51.70 billion), while the value of paid claims and indemnities - including the change in balance of technical provisions, totaled CZK 39.57 billion.

Belgian financial group KBC announced that John HOLLOWS, CEO Czech Business Unit will retire after a career of nearly 26 years with KBC. At the same time, the Board of Directors has appointed Ales BLAZEK, the current CEO of KBC Bank Ireland, to the Executive Committee and successor to John HOLLOWS as CEO of the Czech Business Unit.

RENOMIA, the largest Czech insurance broker, is continuing its regional expansion by acquiring a majority stake in the Polish insurance broker Alfa Brokers. Currently RENOMIA operates in 11 CEE countries, being one of the most relevant insurance brokers in the region.

According to the year-end figures published by CAP (Czech Insurance Association), at the end of 2021, total GWP from the members of the association totaled CZK 147 billion (~EUR 5.92 billion), 4.4% more y-o-y or by CZK 6.1 billion.

The number of insurance frauds increased during 2021, according to the figures published by the Czech Insurance Association (CAP). The professional association of Czech insurers informed that during last year, it inspected a total of 11,407 suspected claim files, up by 18% y-o-y, the aggregate value of detected fraud totaling CZK 1.25 billion - or ~EUR 50 million (up by CZK 17 million or by 1% y-o-y). The average amount of detected fraud / claim file reached CZK 249 thousand (vs CZK 288 thousand in 2020).

Before the end of 2021, the international rating agency A. M. Best, reaffirmed a financial strength rating of "A" (excellent) with a stable outlook for Assicurazioni Generali and its main rated subsidiaries, including Generali Ceska pojistovna. The agency also rated the long-term credit rating at "a +" with a stable outlook.

The insurance market of Czech Republic ended the first 9 months of the year with GWP of CZK 134.7 billion (EUR 5.3 billion), up by 6.4% y-o-y, according to the end-September figures published by the Czech National Bank (CNB), confirming the Q3 market data from the members of CAP (Czech Insurance Association): GWP worth CZK 110.84 billion (~EUR 4.35 billion), 4.7% more y-o-y.

Claims paid by local insurers totaled CZK 75.5 billion (EUR 2.9 billion) up by 10.6 y-o-y, of which 62% related to non-life insurance, the remaining 38% being related to life insurance subclasses.

For the life segment, the GWP value (including reinsurance) increased by 1.2% to CZK 39.3 billion, while the value of paid claims and indemnities - including the change in balance of technical provisions, totaled CZK 28.5 billion. In the case of general insurance segment, the same indicators were as follows: GWP of CZK 95.3 billion (up by 8.7% y-o-y) and January-September 2021 payments worth CZK 47 billion, 14% more y-o-y.