STATISTICS: CZECH. Rep., 1H2018 (CNB): positive trend equally driven by the MTPL and Motor Hull insurance lines
The CNB statistics are taking into consideration the results of all the insurance companies acting on the territory of the Czech Republic - Czech insurers, branches of insurers from other EU or EEA member states and branches of insurers from other countries in the Czech Republic as of the given date, as well as data on the branches of the local insurers operating abroad. On the contrary, the CAP data are referring exclusively to the business of the domestic insurers, members of the association.
Thus, according CNB, the Czech insurance market amounted to EUR 3.01 billion, in GWP terms, recording a 2.34% y-o-y increase in premiums (in European currency). Life insurance saw a slightly negative trend, with GWP decreasing by 0.3%, to EUR 1.08 billion (life and health insurance, incl. reinsurance, total). The non-life sector, including accepted reinsurance, reached GWP of EUR 1.92 billion, increasing y-o-y by 3.9%.
Motor insurance lines, which saw altogether a growth rate of 8.7% y-o-y - the highest among the business lines with a relevant quota in the market portfolio -, reached GWP of EUR 858 million, increasing their consolidated market share to 28.5%. In relative terms, the Motor Hull line recorded the highest premiums increase, of 10.6%, but in absolute terms the Motor Hull and MTPL lines had rather even contributions to the additional premiums volume written in 1H2018 as compared with 1H2017 for motor insurance, of about EUR 30 million each.
Overall property insurance also recorded a positive dynamic, with GWP increasing by 2.2%, to EUR 506.5 million.
The slightly appreciation of the Czech Kroon in 2018 vs. 2017 (1 EUR = 26.020 Kroon - CZK as of June 30th, 2018; 1 EUR = 26.195 Kroon - CZK (June 30th, 2017) has put the market results denominated in European currency in a better light in comparison with those expressed in local currency.
Read CZECH Rep., 1H2018 (CAP): 5% market growth fueled mainly by the Motor Hull insurance line (link la http://xprimm.com/STATISTICS-CZECH-Rep-1H2018-CAP-5-market-growth-fueled-mainly-by-the-Motor-Hull-insurance-line-articol-2,10,17-11850.htm) to see the market results provided by the Czech Insurers Association for 1H2018.
Access www.xprimm.com and download the H1/2018 Czech insurance market statistics.