Czech Republic

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Location map
author: OCHA/ ReliefWeb


Location:
- Central Europe;
- Neighbours: Austria, Germany, Poland, Slovakia.

Climate:
- temperate;
- cool summers;
- cold, cloudy, humid winters.

Natural hazards:
- flooding.

Macro indicators
* 2018 estimates
Surface:78,866km2
Population*:10.6million
Pop. density*:134.3people/km2
GDP*:204.5EUR billion
GDP/capita*:19,301.7EUR

European Union:
EU member, since 2004

Currency: Koruna
Code: CZK
Since: 1993


Insurance market portfolio
* 2018 CNB estimates
TOTAL LIFE*:36%
TOTAL NON-LIFE*:64%
Overall Property*:16%
Overall Motor*:28%


Sources:



 


Statistics

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Czech Rep FY2020 Market Portfolio And Rankings C A P

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Czech Rep 3Q2020 Market Rankings C A P


See all statistics

Latest news


CZECH insurance companies increasingly focusing on property

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.

STATISTICS: CZECH REP., CAP: Insurance market growth rate increases by 2% y-o-y in H1

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%.

STATISTICS: Czech Insurance Association: Insurance market growing thanks to MOD insurance

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.



STATISTICS: Czech Insurance Association: The market was backed up by non-life insurance in 2015

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.


CZECH REP.: Green light for ALLIANZ to buy WUSTENROT insurance business

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.


STATISTICS: CZECH Rep, 1H2015: Record decline in single premium life insurance products

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.

STATISTICS: CZECH REPUBLIC, 1Q2015: Stagnation continues, sole trader insurance is growing

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%.



CZECH REPUBLIC: Pojistovna CS invests millions of Czech crowns in IT

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.

KOOPERATIVA- VIG: One third of homes and half of contents still uninsured in the Czech Republic

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.

STATISTICS: CZECH Rep., FY2014: Despite the positive trend in motor insurance, market doesn't take off yet

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.



Insurance prescribed by VIG decreased by 2.8% in nine months in the CZECH REPUBLIC

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.