Czechia
CZECH REPUBLIC: Windstorm claims three lives in Czech Republic
The powerful storm that hit Central Europe on Sunday claimed three lives in the Czech Republic as a man hit by a falling tree in Bela pod Bezdezem, central Bohemia, died of his injuries in the Liberec hospital, its spokesman Vaclav Ricar confirmed to CTK on Monday.
31 October 2017STATISTICS: CZECH Rep., 1H2017: Three insurers account for more than half of the market
The 26 Czech insurers, members of CAP - the Czech Insurance Association, reported in 1H2017 aggregate GWP of CZK 62.9 billion (~EUR 2.4 billion), up by 3.6% y-o-y.
21 September 2017CZECH REPUBLIC: Uniqa succeeded in tender of one leasing company
Austrian insurance company Uniqa succeeded in a tender for fleet insurance of the Czech branch of Dutch leasing company LeasePlan.
7 August 2017STATISTICS: CZECH Rep., 1Q2017: 3.3% GWP growth; KOOPERATIVA pojistovna-VIG takes up the market leadership
In the first quarter of 2017 the 25 Czech insurers, members of local professional association (CAP), reported aggregate GWP of CZK 32.1 billion (~EUR 1.2 billion), up by 3.3% y-o-y.
6 July 2017CZECH Rep.: CSOB and Ceska posta signed 10-year agreement on banking and insurance services
Ceska posta (Czech Post) and CSOB Group (the Czech Republic Business Unit of Belgian KBC Group) concluded a 10-year partnership agreement on the provision of banking and insurance services.
29 June 2017STATISTICS: UPDATE: CZECH market totaled EUR 5.5 bilion in 2016
According to "ARAD time series database" available on the CNB website (Czech National Bank) - the local insurance industry totaled at the end of 2016 about CZK 147.22 billion (~EUR 5.45 billion).
15 June 2017CZECH REPUBLIC: VZP wants to expand in car insurance
Czech insurance company Pojistovna VZP has asked the Czech National Bank (CNB) for a license to provide vehicle liability insurance.
26 April 2017CZECH insurance market in 2020: are you ready for the digital revolution?
Marking the first anniversary of Willis Towers Watson's Prague office,
we are delighted to present our report into the prospects for the Czech
insurance industry in the years to 2020. In this unique survey of 49
senior insurance executives from across the industry - insurers,
reinsurers, intermediaries, academics and industry associations - we
sought to identify the key trends, risks, opportunities and keys to
success for insurance companies.
3 April 2017CZECH REPUBLIC: Unipetrol gets another insurance compensation
Unipetrol received another insurance compensation at USD 40mln (CZK 1bn)
related to FCC unit accident at Kralupy. It is the first compensation
linked to Kralupy unit that increases total amount received to CZK 8.9bn
(CZK 7.9bn received in 2016 linked to Litvinov unit). This increases
chances for dividend announcement (setting up official dividend policy)
around mid of March when Company plans to publish its new strategy.
2 March 2017STATISTICS: CZECH REPUBLIC insurance market was up by 2.1% y-o-y in 2016
At the end of 2016, the aggregate GWP value of the Czech insurance market amounted, according to the Czech Insurance Association (CAP), to CZK 118.5 billion (about EUR 4.4 billion), meaning a 2.1% y-o-y growth rate.
14 February 2017STATISTICS: Czech Rep., 3Q2016: The decreases in life insurance pushed down the aggregate figure
At the end the third quarter of 2016, the Czech Rep. insurance market totaled CZK 111.6 billion (EUR 4.1 billion), 3.7% less y-o-y, according to the market statistics published on the Czech National Bank website. If the life insurance segment reported an 8% y-o-y decrease (to EUR 1.6 billion), the non-life insurance maintained at about the 3Q2015 level: GWP of EUR 2.5 billion.
19 January 2017CZECH REPUBLIC: New Obligations for Large Companies
In accordance with the EU directive 2014/95/EU, business corporations
with more than 500 employees that qualify as large undertakings and
public-interest entities as defined by the Czech act on accounting
(these include, for instance, banks, insurance companies or large
companies with securities admitted to trading on an-EU regulated market)
are subject to so-called non-financial reporting starting January 1,
2017.
12 January 2017STATISTICS: CZECH REP., 3Q2016: Motor policies maintained the market on the upward trend
According to data released by the Czech Insurance Association (CAP), in 3Q 2016 the insurance market has been driven by non-life insurance segment which reported a y-o-y growth rate of 4.2%, while life policies continues to decrease by about 2.1%. Overall, the aggregate GWP increased slightly by CZK 1.61 billion (to CZK 89.57 billion or EUR 3.32.billion), which corresponds to a y-o-y growth rate of 1.8%.
17 November 2016CZECH REPUBLIC: A.M. Best Affirms Credit Ratings of Ceska pojistovna
A.M. Best has affirmed the Financial Strength Rating of A (Excellent)
and the Long-Term Issuer Credit Rating of "a" of Ceska pojistovna a.s.
(Ceska) (Czech Republic). The outlook of these Credit Ratings (ratings)
remains stable.
2 November 2016CZECH Central Bank withdraws licence of Russian bank ERB
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 2016CZECH 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.
13 October 2016STATISTICS: 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%.
8 September 2016STATISTICS: 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.
2 June 2016CZECH REPUBLIC: CSOB net profit falls 13 percent in Q1
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 2016STATISTICS: Czech Rep., FY 2015: CNB official statistical data published; market trends confirmed
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
