The Czech insurance market totaled CZK 200 billion (EUR 8.3 billion) at the end of 2022, up by 11.3% y-o-y, according to the year-end figures published by the Czech National Bank (CNB). For the life segment, the GWP value (including reinsurance) increased by 5% y-o-y CZK 54.3 billion, while the non-life insurance market was up by 13.9% y-o-y to CZK 145.8 billion.

Claims paid by local insurers totaled CZK 117 billion (EUR 4.8 billion) up by 14.7 y-o-y, of which CZK 69.8 billion related to non-life insurance, the remaining CZK 47.2 billion being related to life insurance subclasses.

About a month ago, the year-end figures released by the local professional association - CAP (Czech Insurance Association), showed that at the end of 2022 the aggregate GWP reported by member companies totaled CZK 157.36 billion (EUR 6.52 billion) up by 7.01%, or by almost CZK 10.31 billion. Life insurance segment increased by 3.17% year-on-year and reached CZK 49.77 billion (EUR 2.06 billion), i.e. a value of CZK 1,528 million higher than a year ago, while non-life insurance GWP accelerated by 8.89% y-o-y, surpassing the 5.8% growth last year to CZK 107.59 billion (~EUR 4.46 billion).

Access xprimm.com and download the FY2022 Czech insurance market statistics.