At the end of September, the Czech insurance market amounted CZK 92.9 billion (about EUR 3.6 billion), representing a 3.8% y-o-y growth rate, according to the nine months market figures published by the Czech Insurance Association (CAP).
The powerful storm that hit Central Europe on Sunday claimed three lives in the Czech Republic as a man hit by a falling tree in Bela pod Bezdezem, central Bohemia, died of his injuries in the Liberec hospital, its spokesman Vaclav Ricar confirmed to CTK on Monday.
The 26 Czech insurers, members of CAP - the Czech Insurance Association, reported in 1H2017 aggregate GWP of CZK 62.9 billion (~EUR 2.4 billion), up by 3.6% y-o-y.
Austrian insurance company Uniqa succeeded in a tender for fleet insurance of the Czech branch of Dutch leasing company LeasePlan.
In the first quarter of 2017 the 25 Czech insurers, members of local professional association (CAP), reported aggregate GWP of CZK 32.1 billion (~EUR 1.2 billion), up by 3.3% y-o-y.
Ceska posta (Czech Post) and CSOB Group (the Czech Republic Business Unit of Belgian KBC Group) concluded a 10-year partnership agreement on the provision of banking and insurance services.
According to "ARAD time series database" available on the CNB website (Czech National Bank) - the local insurance industry totaled at the end of 2016 about CZK 147.22 billion (~EUR 5.45 billion).
Czech insurance company Pojistovna VZP has asked the Czech National Bank (CNB) for a license to provide vehicle liability insurance.
Marking the first anniversary of Willis Towers Watson's Prague office,
we are delighted to present our report into the prospects for the Czech
insurance industry in the years to 2020. In this unique survey of 49
senior insurance executives from across the industry - insurers,
reinsurers, intermediaries, academics and industry associations - we
sought to identify the key trends, risks, opportunities and keys to
success for insurance companies.
Unipetrol received another insurance compensation at USD 40mln (CZK 1bn)
related to FCC unit accident at Kralupy. It is the first compensation
linked to Kralupy unit that increases total amount received to CZK 8.9bn
(CZK 7.9bn received in 2016 linked to Litvinov unit). This increases
chances for dividend announcement (setting up official dividend policy)
around mid of March when Company plans to publish its new strategy.
At the end of 2016, the aggregate GWP value of the Czech insurance market amounted, according to the Czech Insurance Association (CAP), to CZK 118.5 billion (about EUR 4.4 billion), meaning a 2.1% y-o-y growth rate.
At the end the third quarter of 2016, the Czech Rep. insurance market totaled CZK 111.6 billion (EUR 4.1 billion), 3.7% less y-o-y, according to the market statistics published on the Czech National Bank website. If the life insurance segment reported an 8% y-o-y decrease (to EUR 1.6 billion), the non-life insurance maintained at about the 3Q2015 level: GWP of EUR 2.5 billion.
In accordance with the EU directive 2014/95/EU, business corporations
with more than 500 employees that qualify as large undertakings and
public-interest entities as defined by the Czech act on accounting
(these include, for instance, banks, insurance companies or large
companies with securities admitted to trading on an-EU regulated market)
are subject to so-called non-financial reporting starting January 1,
According to data released by the Czech Insurance Association (CAP), in 3Q 2016 the insurance market has been driven by non-life insurance segment which reported a y-o-y growth rate of 4.2%, while life policies continues to decrease by about 2.1%. Overall, the aggregate GWP increased slightly by CZK 1.61 billion (to CZK 89.57 billion or EUR 3.32.billion), which corresponds to a y-o-y growth rate of 1.8%.
A.M. Best has affirmed the Financial Strength Rating of A (Excellent)
and the Long-Term Issuer Credit Rating of "a" of Ceska pojistovna a.s.
(Ceska) (Czech Republic). The outlook of these Credit Ratings (ratings)
The Czech central bank said on Monday it had withdrawn the licence of
ERB, a small Russian-owned bank operating in the Czech market.
Insurance companies are increasingly investing on the Czech real estate market. Ceska pojistovna purchased Hotel Prague Inn at Mustek in Prague 1 through its fund, bringing the total value of its property portfolio to CZK 8 bn.
The total written premium of the members of the Czech Insurance Association (CAP) has increased by c. CZK 1.2 billion on year- on-year basis, which corresponds to 2% growth. The positive development of the insurance market in the first six months is still supported by non-life insurance, which reported c. 4.5% volume growth and thus again became the most dynamic segment. Also life insurance, which has been showing a more significant decrease in the last two years, slowed down the decline from 3.4% in the 1st quarter to 2.2%.
At the end of March 2016, the Czech Republic insurance market totaled CZK 31.12 billion (about EUR 1.15 billion), 1.27% more y-o-y, according to the results of the members of the Czech Insurance Association (CAP). The most dynamic sector in non-life insurance is collision insurance. Collision insurance (n.red.: MOD insurance) strengthened year-on-year by 9.2% and helped to maintain the continuing growth of the entire non-life segment", CAP annoucend in a press release.
CSOB says Q1 net profit down 13 percent y/y to CZK 3.3 billion (USD 139.03 million), impacted by banking taxes, declining margin, lower fees.