STATISTICS: Czech Rep., 3Q2016: The decreases in life insurance pushed down the aggregate figure

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.

The life insurance market has been dragged down by its two major business lines: the traditional policies decreased by about 31% y-o-y to EUR 279 million, while the unit-linked segment was down by more than 2% y-o-y to EUR 929 million.

In case of the non-life subclasses, the 8.7% decrease reported for MTPL (to EUR 611 million) was offset by positive rates in other lines of business: Motor hull (+7.6%), property (+2.6%), GTPL (+6.5%).

Access www.xprimm.com and download the 3Q2016 Czech Republic insurance market statistics.

Follow XPRIMM Publications on LinkedIn, for more data on the insurance and financial industry.

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