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  4. > Czech Republic Insurance Report Q4 2016

Czech Republic Insurance Report Q4 2016

  • July 2016
  • -
  • Business Monitor International
  • -
  • 64 pages

Includes 3 FREE quarterly updates

BMI View: Though well developed, the Czech insurance market is less mature than most in the EU andthere is significant room for expansion in smaller lines such as health and personal accident insurance.These factors, combined with a benevolent outlook for economic growth and consumer spending shouldpresent an opportunity for investors and new entrants over the next few years as the economy outperformsmany of those in the region. The fact that both the life and non-life markets are relatively fragmentedpresents a further opportunity and we expect to see consolidation in both sectors as larger firms acquiresome of the smaller players. The rising capitalisation demands for EU insurers should incentivise both theestablished indigenous firms as well as European multinationals looking to grow their footprint in theCentral and Eastern Europe (CEE) region.

Key Updates And Forecasts

- The announcement by the European Insurance and Occupational Pensions Authority (EIOPA) in June2016 that it intends to introduce stress tests for EU insurance companies has met with concern from anumber of the region's insurance providers. In July, the head of regulatory strategy at Allianz, TobiasBuecheler, said that the tests were too extreme and voiced fears that they would lead to highercapitalisation requirements being enforced on EU insurers.

- We forecast Czech life insurance premiums to grow at a steady pace through the forecast period as localinsurers see the benefits of a favourable economic climate and robust levels of consumer spending.Premiums are forecast to grow by 1.0% in 2016 in local currency terms to CZK75.4bn. This translates toan increase of 6.8% in USD terms. Premiums will reach CZK81.6bn (USD3.8bn) by 2020.

Table Of Contents

Czech Republic Insurance Report Q4 2016
BMI Industry View 5
Table: Headline Insurance Forecasts (Czech Republic 2013-2020) 5
Insurance 7
Industry Forecast 9
Life Premiums Forecast 9
Table: Life Premiums (Czech Republic 2013-2020) 12
Table: Life Insurance Claims (Czech Republic 2008-2014) 13
Non-Life Premiums Forecast 14
Table: Non-Life Premiums (Czech Republic 2013-2020) 17
Table: Non-Life Insurance Claims (Czech Republic 2009-2014) 19
Non-Life Sub-Sector Forecast 20
Table: Non-Life Insurance Premiums by Product Line (Czech Republic 2013-2020) 29
Insurance Risk/Reward Index 31
Emerging Europe Risk/Reward Index 31
Table: Emerging Europe Insurance Risk/Reward Index - Q416 32
Market Overview 33
Life Market Overview 33
Product Offering 33
Competitive Landscape 34
Table: Life Insurance Market Share (USDmn), 2008-2014 35
Non Life Market Overview 36
Product Offering 36
Competitive Landscape 36
Table: Non-Life Market Share (USDmn), 2008-2014 38
Company Profile 39
Allianz 39
Generali 47
UNIQA Group 51
Vienna Insurance Group (VIG) 54
Methodology 58
Industry Forecast Methodology 58
Risk/Reward Index Methodology 61
Table: Indicators 63
Table: Weighting of Indicators 64

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