The Czech central bank said on Monday it had withdrawn the licence of
ERB, a small Russian-owned bank operating in the Czech market.

26 October 2016
Insurance companies are increasingly investing on the Czech real estate market. Ceska pojistovna purchased Hotel Prague Inn at Mustek in Prague 1 through its fund, bringing the total value of its property portfolio to CZK 8 bn.

13 October 2016
The total written premium of the members of the Czech Insurance Association (CAP) has increased by c. CZK 1.2 billion on year- on-year basis, which corresponds to 2% growth. The positive development of the insurance market in the first six months is still supported by non-life insurance, which reported c. 4.5% volume growth and thus again became the most dynamic segment. Also life insurance, which has been showing a more significant decrease in the last two years, slowed down the decline from 3.4% in the 1st quarter to 2.2%.

8 September 2016
At the end of March 2016, the Czech Republic insurance market totaled CZK 31.12 billion (about EUR 1.15 billion), 1.27% more y-o-y, according to the results of the members of the Czech Insurance Association (CAP). The most dynamic sector in non-life insurance is collision insurance. Collision insurance (n.red.: MOD insurance) strengthened year-on-year by 9.2% and helped to maintain the continuing growth of the entire non-life segment", CAP annoucend in a press release.

2 June 2016
CSOB says Q1 net profit down 13 percent y/y to CZK 3.3 billion (USD 139.03 million), impacted by banking taxes, declining margin, lower fees.

23 May 2016
Insurance market data for 2015 published by the Czech National Bank (CNB) confirm the GWP growth on the non-life insurance segment, at a pace of 4.9%, to CZK 90.98 billion (EUR 3.37 billion). Life insurance GWP went down by 12.3%, according to CNB data, while the entire market recorded an almost 3% decrease, to CZK 153.4 billion (EUR 5.67 billion).

17 March 2016
The preliminary results of the Czech Insurance Association (CAP) for 2015 show an annual increase of CZK 1.1 billion, which is a 1% rise, in the premium volume. Premium growth accelerated in the second half of the year compared to a 0.3% increase in the first half. Same as last year, the insurance market is backed up by non-life insurance, which strengthened by 4%. Life insurance, on the other hand, is continuously weakening, namely by 3.5% in comparison with 2014.

25 February 2016
The Czech insurance market totaled at the end of the first three quarters of 2015 about CZK 116 billion (EUR 4.3 billion), 3.6% less y-o-y, according to data provided by the Czech National Bank (CNB). Non-life segment reported a positive dynamic in GWP (+4.8% y-o-y to CZK 69.2 billion), while the life insurance segment contracted by 13.7% to CZK 46.8 billion.

17 December 2015
The Czech antitrust watchdog (UOHS) announced it allowed the Czech insurance branches of financial group WUSTENROT & WURTTEMBERGISCHE (the non-life insurer WUSTENROT Pojistovna and the life insurer WUSTENROT Zivotni Pojistovna) to be aquired by the German group ALLIANZ.

9 December 2015
The Czech insurance market ended the first three quarters of 2015 with GWP of EUR 3.23 billion (CZK 87.96 billion), 1.87% up y-o-y, according to data provided by the Czech Insurance Association (CAP). Non-life recorded a positive change in GWP, acting thus as the market driver, while the life insurance segment saw a further decrease in premiums.

12 November 2015
According data provided by the Czech National Bank, in the first half of 2015 the Czech insurance market saw a 5.7% decrease in GWP (or 4.99% decrease for the market results denominated in European currency), to CZK 78.2 billion (EUR 2.87 billion). The life insurance segment is entirely responsible for the negative trend, mostly because of the huge decrease in single premium insurance products sales.

24 September 2015
The results of the Czech Insurance Association (CAP) member companies for the first quarter of 2015 show an increase of 0.5% in total annual premiums. Market stagnation mainly results from an ongoing decline in life insurance reaching almost 3%. Non-life insurance is still experiencing a mild recovery, namely from 2.3% at the end of 2014 to 2.6%.

17 June 2015
The Czech unit of the Vienna Insurance Group (VIG) saw a 1.8 pct decline in written premiums to EUR 457.8m in Q1 2015.

26 May 2015
The Export Guarantee and Insurance Corporation (EGAP) insured exports totalling CZK 720bn (EUR 26bn) since 1992. The export headed into more than 100 countries of the world, primarily risky territories.

14 April 2015
Czech insurance company Pojistovna Ceske sporitelny, Vienna Insurance
Group (Pojistovna CS) invests millions of Czech crowns in IT. Besides
the biometric signature, it offers also applications to secure
information about insurance, or model contracts (SmartClient), CIANEWS
was told by company spokeswoman Jana Jiraskova. According to her words,
the insurance company wants to allow insured event reports online,
introduce a client portal with information about policies and it wants
to focus on multi-channel communication in the future.

16 March 2015
KOOPERATIVA pojistovna - VIG, the second largest insurer in the Czech market, paid CZK 1.5 billion (~EUR 54 million), for 21,000 claims arising from the natural disasters in 2014. By comparison, in the previous year 23,000 similar claims were reported, with a total value of CZK 2 billion, of which CZK 1.6 billion were paid only for the damages produced by the June floods which affected the territory of the Czech Republic in 2013.

18 February 2015
Hopes for a strong recovery of the insurance market were not confirmed as the full year figures of the CAP - the Czech Insurers Association show only a very small growth in terms of GWP (1.05%), to CZK 115.19 billion. In European currency, given the significant depreciation of the Czech koruna, the total GWP amounted to EUR 4.15 billion, a value close to the one from 2013.

18 February 2015
According to third-quarter figures of the Czech National Bank, the sector's supervising authority, the Czech insurance market development shows no unexpected major changes. Annual premiums totalled CZK 120.23 billion, 2.6% up y-o-y. Both life and non-life insurance segments saw a positive evolution in terms of GWP.

8 January 2015
An ice storm that has affected the Czech Republic in the last couple of
days has hit insurers and rail operators, with the latter providing
compensation to passengers, but has had little impact on manufacturing
and construction firms.

4 December 2014
The profit of VIG insurance group, parent company of Kooperativa pojistovna and CPP, prior to taxation reached a total of EUR 127.6m for January to September of 2014. This represents a year-on-year decrease by 11.9%. Gross insurance prescribed by the group in the Czech Republic has decreased year on year by 2.8 % to EUR 1.28bn. Out of this, the segment of life insurance posted 2.7% growth to EUR 645.4m and non-life insurance posted a decrease by 7.9% to EUR 635.2m.

21 November 2014