VIG Group's Czech companies won multiple awards

Vienna Insurance Group's (VIG) companies Kooperativa and Ceska podnikatelska pojistovna (CPP) led the way in the Association of Czech Insurance Brokers' "Insurer of the Year" survey, taking the top two spots in all four of the main categories.

CPP took first place in the personal insurance, industrial and company insurance, and car insurance categories, ahead of Kooperativa. The positions were reversed in the life insurance category. In the latter category, Pojistovna Ceske sporitelny - VIG bancassurer specialising in life insurance - came fourth.

Kooperativa also came out on top in the company insurance, non-life insurance and innovation of the year categories in the "Zlata koruna" survey, in which 365 finance experts singled out the leading financial products. The company ranked third in the life insurance category and the CSR award. CPP finished runner-up in the company insurance ranking, while Pojistovna Ceske sporitelny came second in the life insurance category.

"We're delighted that the successful work of our Czech Group companies is earning plaudits among industry professionals," explained Elisabeth STADLER, VIG's CEO and responsible for the Czech Republic. "These awards are down to the commitment of our people in the Czech Republic, who give their all day in, day out. Over the years, the Czech Republic and especially the capital Prague have become something of a second home for VIG. This makes our positive performance all the more pleasing," Stadler added.

Undisputed market leader

The Vienna Insurance Group entered what was then still Czechoslovakia in 1990. Today it has three group companies in the Czech Republic: Kooperativa, Ceska podnikatelska pojistovna and Pojistovna Ceske sporitelny. Together, the three companies reported premium income of EUR 1.6 billion in 2017, up by around 5% on the previous year. VIG is the clear number one on the Czech market, with a share of 32.3%.

Under its Agenda 2020 management programme, VIG plans to merge bancassurance company Pojistovna Ceske sporitelny with Kooperativa, in order to capitalise on the benefits of bank-based sales, not only in life insurance but across all segments.

Continued positive performance

Thanks to its structure, VIG has strong roots in the Czech market - the Group is listed on both the Vienna and Prague stock exchanges. The Group's reinsurance company VIG Re and VIG's first assistance company, Global Assistance, are both headquartered in the Czech capital. The city will also be the site of a digital hub to be established under the partnership agreement with ERSTE Group.

VIG's growth in the country has continued into this year. In the first three months of 2018, the Group recorded premium income of EUR 465.3 million in the Czech Republic - a year-on-year increase of 8.8%.

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

Share |

Related articles

STATISTICS: CZECH REP., 3Q2016: Motor policies maintained the market on the upward trend

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%.

2016-11-17

ON THE MOVE

Stefan STAVROSITU appointed Sales Director of GROUPAMA's Romanian unit

Groupama Asiguraari, the Romanian arm of the French group and of the leading players on he ocal market, has announced the appointment of Stefan STAVROSITU as National Sales Director, replacing Julien RAMILLION who, after holding this position for four years, will receive other responsibilities.

08.08.2018

TOP EVENT

LIVE: IIS Global Insurance Forum 2018 / Day2

The works of the Global Insurance Forum continued today in Berlin, Germany. Providing security for ageing populations in health care and pensions terms, as well as innovation and InsurTech or innovative strategies for the future development of the industry are on the today's agenda.

10.07.2018

See all