Czech Republic

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Location map
author: OCHA/ ReliefWeb


Location:
- Central Europe;
- Neighbours: Austria, Germany, Poland, Slovakia.

Climate:
- temperate;
- cool summers;
- cold, cloudy, humid winters.

Natural hazards:
- flooding.

Macro indicators
* 2018 estimates
Surface:78,866km2
Population*:10.6million
Pop. density*:134.3people/km2
GDP*:204.5EUR billion
GDP/capita*:19,301.7EUR

European Union:
EU member, since 2004

Currency: Koruna
Code: CZK
Since: 1993


Insurance market portfolio
* 2018 CNB estimates
TOTAL LIFE*:36%
TOTAL NON-LIFE*:64%
Overall Property*:16%
Overall Motor*:28%


Sources:



 


Statistics

Czech Rep 1H2019 Market Rankings ( C A P)

Czech Rep 1H19 Market Portfolio C N B


See all statistics

Latest news

CZECH Rep. 1H2013: life pushed GWP down, floods inflate claims

At a slow pace, the Czech insurance market in 1H2013 also recorded the descending trend established in late 2011. The life insurance sector, accounting for more than 40% of the overall premium production, was responsible for the negative change recorded by the market turnover in the first half of the year. Thus GWP for the life insurance lines fell by 5.8%, to CZK 35 billion (EUR 1.35 billion). According to the representatives of CAP - the Czech insurers' association, the main reason of this trend is a significant drop in premiums for single premium life insurance, by 17%, mainly due to lower revenues of financial markets in the second quarter of this year.

CZECH REPUBLIC: Health insurer VZP to save CZK 67m by buying IZIP site

The Czech General Health Insurance Company (VZP) will save 67 million crowns a year by buying the controversial IZIP server via which it communicates with patients and for whose operation it has annually paid 72 million crowns to the IZIP company, VZP director Zdenek Kabatek said Sunday.

CZECH REPUBLIC: Award for CESKA Pojistovna - first place in the category of the "Clients friendliest non-life insurance company''

CESKA Pojistovna succeeded in the Best insurance company competition organized by Czech economic daily Hospodarske noviny in 2013 and became the "Clients friendliest non-life insurance company" for this year. It has been the fifth year of this competition already.  The awards come to insurance companies that can offer the best products and services for their clients, have good and proper communication with them, have good economic results while are accessible to their clients too.

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

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.




CZECH REPUBLIC: Profit of CP last year grew by 9% in 2012

Ceska pojistovna again confirmed its strong position in the Czech insurance market.
Its financial results last year, according to IFRS, showed a profit of CZK 3.9 billion after tax (+9% year-on-year) and total premiums written exceeded CZK 32 billion. The extremely stable position of Ceska pojistovna is evidenced by the A- rating recently affirmed by S&P, with a stable outlook.


The CZECH Rep. FY 2012: Higher profitability despite the stagnant trend in underwriting

The Czech insurers ended 2012 with a EUR 603.6 million aggregated profit before taxes, a 36.3% higher figure than in 2011, despite the stagnant trend of the underwriting activity. In terms of gross written premium, last year's results are fairly comparable with 2011 figures, with a total premium production of EUR 6.1 billion, 1.6% higher y-o-y considering the values of the main market indicators denominated in Euro. In national currency, GWP amounted to CZK 153.6 billion, almost 1% less than in 2011.



CZECH REPUBLIC: CP was solving 1200 cases of stolen cars of its clients last year

CESKA Pojistovna (CP) solved totally 1200 cases of stolen cars of its clients last year. Statistics show that structure of these cases was not changing during last years. European car brands are the most in danger and almost the half of all stolen cars was not older than 5 years. While burglars were focusing on new and luxurious cars in past, the number of thefts of older cars (for reserve parts) increased last year significantly.

CZECH REPUBLIC: KALOUSEK wants to raise the insurance capacity of EGAP

Finance Minister Miroslav KALOUSEK will propose to the government on Wednesday to raise the insurance capacity of export guarantee and insurance company EGAP by CZK 10 billion to CZK 280 billion, KALOUSEK said in discussion programme Questions of Vaclav MORAVEC on Czech TV Sunday.


CZECH REPUBLIC: Insurance fraud up 27% at CZK 1 billion in 2012

Insurers in the Czech Republic checked 6,000 suspicious cases of insurance claims last year, a drop of 8 percent compared with 2011, and proved frauds worth over Kc1bn, a year-on-year growth of 27 percent, the Czech Insurers' Association (CAP) told CTK yesterday.


CZECH market posts subunit growth y-o-y (CNB)

In 3Q2012, the Czech Republic insurance market increased slightly, to almost CZK 118 billion or EUR 4.7 billion (0.3% more compared to January-September 2011), as the financial indicators published by the Czech National Bank (CNB) showed, confirming the market trend resulting from data collected by the insurers' association. At the same time, during the reporting period, the insurers paid claims in the amount of CZK 65.5 billion (EUR 2.6 billion), 3.2% up y-o-y.


CZECH Rep.: CP posts lower profit and premiums in 3Q2012

CESKA Pojistovna (CP), the largest insurance company in the Czech Republic, reported for January-September 2012, according to the international accounting standards, a net profit of CZK 2.80 billion (EUR 110 million), CZK 200 million less compared with the same period previous year.