STATISTICS: CZECH REPUBLIC, 1Q2020: Sensitive insurance products reacted to COVID-19 pandemic

23 July 2020 — Andrei Victor
The Czech National Bank Q1 2020 figures show that at the end of March 2020 the local insurance industry totaled about CZK 45.39 billion (~EUR 1.66 billion), up by 8.62% y-o-y.

It is worth mentioning that, affected by the COVID-19 pandemic, for the life segment, the GWP value (including reinsurance) decreased by more than 7% y-o-y to CZK 53.41 billion, while in the case of the general insurance segment, business lines like medical & income protection reported triple digits growth rates. On the other side, travel assistance and other transport LoBs reported negative rates.

According to the CAP (Czech Insurance Association) quarterl statistics, the largest three insurers in the country were GENERALI CESKA pojistovna (26.98% market share), followed by KOOPERATIVA pojistovna VIG (23.71%) and "Germans" from ALLIANZ pojistovna (10.79%).

Access and download the Q1 2020 Czech insurance market statistics.

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