Czechia
CZECH REPUBLIC: Miroslav SINGER appointed to Government's National economic council dealing with economic impacts of Covid-19
Miroslav SINGER, Director of Institutional Affairs & CEE Chief Economist at GENERALI Holding CEE, was officially appointed as a member of the Czech government's National Economic Council (NERV) established on April 9 to tackle the impacts of the coronavirus crisis on economy.
22 April 2020CZECH REP.: Insurers and pensions companies will not pay dividend from last year's profits in order to strenghten their financial stability
The impact of the coronavirus pandemic dramatically changes the current outlooks for the global and Czech economy. Thus, for its March monetary policy meeting, the CNB Bank Board had at its disposal an extraordinary internal update of the macroeconomic forecast, which served as a basis for its last decisions.
1 April 2020CZECH REP.: Detected insurance frauds' value doubled within the last nine years
Czech insurers, members of the Czech Insurance Association (CAP), examined a total of 8,474 suspicious claims in 2019, thus detecting insurance frauds amounting to CZK 1.133 billion (~EUR 41.4 million), which is double as compared with the year 2010 (CZK 624 million), CAP stated.
31 March 2020STATISTICS: CZECH REP., FY2019, CNB figures: Non-life insurance maintained the market dynamic in positive area
The Czech National Bank - CNB most recent figures show that at the end of 2019 the local insurance industry totaled about CZK 165.92 billion (~EUR 6.53 billion), up by 6.63% y-o-y.
26 March 2020STATISTICS: CZECH REPUBLIC, FY2019: storms and hails almost doubled the number of property claims settled by local insurers
According to FY2019 preliminary data reported by Czech Insurance Association - CAP, the local insurance market increased by 5.68% y-o-y to CZK 136.72 billion (~EUR 5.38 billion). The 27 insurers members of CAP represent roughly 98% of total GWP generated by local market.
27 February 2020STATISTICS: Update 3Q2019, CZECH REPUBLIC: Insurers' business expanded by more than 5% y-o-y, CNB reports
According to the most recent figures available on the Czech National Bank (CNB) website, the local insurance industry totaled about CZK 124.45 billion (~EUR 4.82 billion) at the end of September 2019, up by 5.86% y-o-y.
16 January 2020CZECH REPUBLIC: Supervisory stress tests confirmed that insurers and banks are resilient
In September, the Czech National Bank (CNB) completed this year's round of supervisory stress tests of banks and insurance companies. The tests used data as of the end of 2018. "Their results demonstrated that the two sectors are still prepared to withstand a deterioration in economic conditions", as CNB affirmed in a statement.
17 December 2019STATISTICS: CZECH REPUBLIC, 3Q2019: GWP of EUR 4 billion, of which EUR 2.2 billion generated by TOP-3 insurers
The Czech Republic insurance maket reported a nine months growth rate in premiums of 5.64% y-o-y to CZK 102.86 billion (or EUR 3.98 billion), according to the end-September 2019 market statistics published on the local professional association website.
12 December 2019CZECHIA, MTPL 2019: Tarrifs increased by 4% y-o-y while the average claim by almost 7% y-o-y
According to Czech Insurers' Bureau (CKP), in the past years the MTPL tarrifs started to rise slightly, thus, in 2019, according CKP figures, the average premium is CZK 2,969 (~EUR 115), representing an increase of about 4.1% y-o-y, while the average damage related to property claims increased by 6.9%.
7 November 2019S&P re-confirms A+ rating with stable outlook for VIG Re
On October 15, 2019, the international rating agency Standard & Poor's confirmed its long-term public issuer credit rating of "A+" and financial strength rating of "A+" with stable outlook for VIG RE zajistovna, a.s., affirming the same rating VIG Re has enjoyed since its founding in 2008.
17 October 2019CZECHIA: CNB sets up Insurance and Pension Supervision Department
Czech National Bank (CNB) established a new Supervision Department for Insurance Companies and Pension Companies, as part of the Financial Market Supervision Department, which splits from the Prudential Supervision Department, starting October 1st, 2019.
15 October 2019STATISTICS: CZECHIA, 1H2019: 9.14% more premiums wrote y-o-y for the first six months
The H1 results provided by the Czech National Bank show a positive market dynamic, with overall GWP increasing by 9.14%, to EUR 3.3 billion.
3 October 2019CZECHIA: Ceska pojist'ovna to join GENERALI Group family
Ceska pojist'ovna, the Czech insurance market leader of 2018, announced the decision to merge with the Czech branch of Generali, the unification of the two companies creating the largest local insurer in terms of total market share.
19 September 2019Czech insurance companies want to replace fiscal changes
3 September 2019STATISTICS: Update 1Q2019, CZECH REPUBLIC: Insurance market compressed by 4% y-o-y, CNB reports
According to the most recent figures available on the CNB website (Czech National Bank), the local insurance industry totaled about CZK 41.8 billion (~EUR 1.6 billion) at the end of March 2019, down by 4.2% y-o-y.
27 June 2019GENERALI announced changes in the managements in the Czech Republic, Slovakia and Croatia
GENERALI CEE Holding announces some changes in the managements of its subsidiaries CESKA pojistovna (Czech Republic), Generali Poistovna (Slovakia), and Generali osiguranje (Croatia), to become effective in the upcoming weeks and months once the necessary approvals have been received.
18 June 2019STATISTICS: CZECH REPUBLIC, 1Q2019: Claims produced by storms and heavy snow at the highest value in the last 9 years
According to preliminary data for the first quarter of 2019, the total GWP according to the Czech Insurance Association - CAP methodology is CZK 34.82 billion (EUR 1.35 billion), compared to the first quarter of 2018 with a premium premium of approximately CZK 33.49 billion.
30 May 2019Allianz to invest in Czech gas distribution network GasNet
Allianz Capital Partners (ACP) on behalf of Allianz insurance companies has, in a consortium led by Macquarie Infrastructure and Real Assets (MIRA), reached an agreement to purchase a stake in GasNet.
8 May 2019CZECH REPUBLIC: CSOB to become the sole owner of Czech building savings bank CMSS after acquiring the 45% stake held by Bausparkasse Schwabisch Hall
29 April 2019STATISTICS: UPDATE FY2018: CZECH market has passed the EUR 6 billion threshold
According to the most recent figures available on the CNB website (Czech National Bank) - the local insurance industry totaled about CZK 155.05 billion (~EUR 6.03 billion) at the end of 2018, up by 2.05% y-o-y.
28 March 2019
