CZECH Rep 1Q2013: a calm quarter before the spring flooding

8 August 2013 — Daniela GHETU
The Czech insurance market showed in 1Q2013 its traditional quiet evolution, recording a 3.30% growth of the GWP volume, to CZK 41 billion, a positive evolution common to both life and non-life insurance lines. However, denominated in euro, the figures look somehow different, due to the 4% Croon's exchange rate depreciation y-o-y. Thus, the total GWP volume calculated in euro amounted to EUR 1.59 billion, 0.7% less than in 1Q2012.

Looking at the GWP figures for the main insurance lines it is obvious that the market is dominated by a "stagnant" status, with no significant changes in volumes as compared to the first quarter of 2012. The only notable change was recorded on the "credit insurance" class for which GWP grew by about 86%, determining an augmentation of the class' share in the market portfolio to almost double as compared to 1Q1012, to 2.2%.

CESKA pojistovna e KOOPERATIVA pojistovna are the market leaders, with market shares of 24.7% and 21.12% respectively, ranking which is common to all the major insurance business lines.

However, the first quarter's lull will probably be shaken by the effects of floods recorded this spring in Central Europe, which effects were felt strongly in the Czech Republic. We will soon find out, once the half year results will be available.

Access www.xprimm.com and download the 1Q2013 Czech Republic insurance market statistics.

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