In the first three months of 2011, insurers activating on the profile market in the Czech Republic achieved a net profit of EUR 160.3 million, down by EUR 36.1 million compared to Q1/2010, as show the data recently published by the National Bank of Czech Republic.

On March 31st, 2011, the gross written premiums volume rose to EUR 1.74 billion, up by 10.6% in comparison with the similar period of Q1/2010. In absolute value, the increase reached about EUR 166 million.

On insurance classes, the life insurance segment had an evolution of gross written premiums of 19.7%, reaching the value of EUR 794 million. By March 31st of the current year, on the Czech insurance market, there were 8.74 million ongoing policies, of which 404.000 was the number of newly concluded policies. The "star products" of this segment were the products with investment component, according to the Supervisory Authority in Prague, generating 53% of the total transactions on the life insurance segment. The rest of the life insurance portfolio was completed by "traditional" insurance (32% of the total), accident and illness clauses (10%), annuities (2%) and marriage/birth insurance (2%).

On general insurance, the Czech profile companies underwrote, in the analyzed period, gross written premiums of EUR 942 billion, 3.9% more than in 1Q/2010. The number of ongoing policies was 17.1 million, of which 2.1 million were new ones.

On general insurance, motor insurance (Motor Hull and MTPL, added up) generated 42.6% of the total concluded non-life insurance (26.2% - MTPL and 16.4% - Motor Hull). Property insurance generated 25.4% of the total business in the general insurance segment, while MTPL insurance represented 15.6%. The most "successful" type of general insurance was credit insurance, as it registered the biggest increase of the underwritings volume, both as percentage (239%) as well as in absolute value (EUR 29 million). On the other hand, railway insurance decreased the most in percentage (-61%), while, in absolute value, Motor Hull insurance went down by EUR 19 million.

At the end of March 2011, the value of premiums ceded to reinsurance was EUR 341 million (of which EUR 315 million corresponding to general insurance), EUR 33 million higher than in January-March 2010.

The value of approved and paid claims of the insurers registered an increasing dynamic, superior to the one of the underwritings volume, 13.4%, totalizing EUR 903 million. Out of this sum, EUR 425 million were represented by indemnities paid for life policies, while for general insurance the claims were EUR 479 million worth.

Note: For the calculus, there were taken into consideration the following exchange currencies, communicated by the National Bank of Czech Republic: EUR 1 = CZK 24.54 (31.03.2011) and EUR 1 = CZK 25.44 (31.03.2010)