The Czech insurance market ended the second quarter of 2023 with GWP worth CZK 107.8 billion (EUR 4.5 billion), up by 6.4% y-o-y, according to the end-June statistics published by the Czech National Bank (CNB).

Claims paid by local insurers totaled CZK 53.2 billion (EUR 2.2 billion) down by 10.5 y-o-y, of which 67% related to non-life insurance, the remaining 33% being related to life insurance subclasses.

According to the CAP (Czech Insurance Association) quarterly figures, the aggregate GWP reported by member companies totaled CZK 84.7 billion (EUR 3.6 billion) up by 5.7%, or by almost CZK 4.5 billion.

Life insurance accounted for 30% of GWP portfolio (CZK 25.3 billion, up by 1.2% y-o-y), the remaining 70% (or CZK 59.4 billion, up by 7.8% y-o-y) being accounted by non-life portfolio.

In terms of GWP, the largest life insurers in the country were Kooperativa VIG (30.2% market share), Generali Ceska Pojistovna (20.3%) and NN (9.1%), while the top 3 non-life insurers was formed by Generali Ceska Pojistovna (25.8%), Kooperativa (21%) and Allianz (13.2%).

Access xprimm.com and download the H1 2023 Czech insurance market statistics released by CNB and CAP.