Czechia
CZECHIA: 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 2019A new life insurance company will launch in CZ & SK markets
Youplus, a new life insurance company, will launch in the Czech and Slovak insurance markets in May 2019. Youplus will begin operation in the Czech Republic the first half of 2019 and enter the Slovak market in the second half.
27 March 2019New appointments made inside AXA CZ & SK
Starting with March 2019, AXA Group will have a new Chief Risk Officer and a new Chief Technical Insurance Officer operating inside Czech Republic and Slovakia. The changes are waiting for regulator's approvals.
7 March 2019EUROINS acquires ERGO subsidiaries in Czech Republic, Romania and Belarus
Bulgaria-based Euroins Insurance Group (EIG) has made a purchase agreement with Germany-based ERGO International AG for buying 4 ERGO insurance companies. EIG will take control over ERGO's life and non-life subsidiaries in Romania and Czech Republic, as well as the non-life company in Belarus.
7 March 2019STATISTICS: CZECH REP., 2008-2017 timeline: Life insurance was the weightiest business line
Between 2008-2017, the Czech insurance industry grew in terms of gross written premiums (GWP) by EUR 836 million (+ 16.5%). Overall, the market increased on all main business lines, with the exception of MTPL, which dropped EUR 6 million (- 0.7%) by the end year.
27 February 2019STATISTICS: CZECH REP., FY2018: 4% market growth driven by the motor insurance lines
Czech insurers ended 2018 with a 4.1% y-o-y increase in GWP, to EUR 5.03 billion. Most of the market growth was owed to the higher growth rates seen on the motor insurance lines, data provided by CAP - the Czech Insurance Association show.
21 February 2019Czech Rep.: 2018 insurance frauds in Czech Republic, as reported by Allianz, Kooperativa and Generali
Three top Czech insurers have identified fraudulent insurance claims worth CZK 640 million, in 2018. While Prague was the region providing for the highest amount of fraud attempts, the main lines of business affected by the fraudulent behavior of insureds were property, motor and lianility insurance.
7 February 2019Czech Rep.: SIMPLEA was accepted by CNB to start doing insurance business in 2019 Q2
The newly founded insurance company Simplea was finally licensed by the Czech National Bank to start its activity, and it is expected to start operating in the second quarter of 2019.
5 February 2019Czech Republic: the new Insurance Distribution Act is changing insurance distribution
The new Insurance Distribution Act that became effective in the Czech Republic on 1 December 2018, and replaced the still effective Act on Insurance Intermediaries and Loss Adjusters (IILA) has introduced important changes on insurance distribution, as Schoenherr Journal wrote.
5 February 2019RENOMIA buys majority stake in established insurance broker IMG in the Czech Republic
RENOMIA, a leading insurance broker in Central and Eastern Europe, announced it bought a majority stake in IMG, one of the leading Czech insurance brokers providing services to corporate and individuals.
18 January 2019NN Group completes acquisition of AEGON units in Czech Rep. and Slovakia
NN Group announced that it has completed the acquisition of AEGON's Life Insurance business in the Czech Republic and AEGON's Life Insurance and Pension businesses in Slovakia.
10 January 2019
