STATISTICS: CZECH REPUBLIC, 1H2020: GENERALI's subsidiaries merger gave birth to a new market leader

15 October 2020 — Daniela GHETU
Czech insurers ended the first half of 2020 with GWP worth EUR 3.16 billion. Which is 4.29% less y-o-y, the Central Bank's statistics show. However, in local currency, the rate growth remained slightly positive, of about 0.6% y-o-y. In fact, the overall negative trend was mainly driven by the life insurance segment which saw a 16.8% decline in GWP, thus losing about 5p.p. of its weight in the market portfolio.

On the non-life side, GWP went up, overall, by 2.80% (8.03% in local currency), to EUR 2.16 billion. With a few exceptions, most insurance lines saw a positive evolution, although at an obviously slower pace than in the first quarter. Motor insurance lines recorded a slightly positive trend, supported in part by the increasing number of insured vehicles. The segment covering medical expenses and other risks of travel insurance, insurance of foreigners etc., the written premium also fell significantly, for the entire first half of 2020 by almost 11%. In the comparable period of the previous year, on the other hand, this group strengthened by more than 4%.

As far as market rankings are concerned, GENERALI Ceskapojis'ovna - the company resulted after the merger, in September 2019, of Ceskapojist'ovna with the Czech branch of Generali - has produced the awaited surprise, taking over the leading position from Kooperativapojistovna VIG and becoming the larger Czech insurer.

Access and download the latest Czech insurance market statistics.
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