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Czech Republic Insurance Report Q3 2016

  • April 2016
  • -
  • Business Monitor International
  • -
  • 62 pages

Includes 3 FREE quarterly updates

BMI View: The insurance market in the Czech Republic is relatively well developed, with a number ofdomestic and multinational insurers in the country providing a broad range of life and non-life products.The marketplace is fragmented and we do expect to see some consolidation among the smaller firms overthe course of the forecast period, potentially via mergers and acquisitions by foreign firms attracted by thesolid regulatory environment and growth potential. Although a small market, premiums in the Czech lifemarket are forecast to grow steadily, supported by wider economic growth in the country - though we notethat low interest rates will continue to dampen demand.

In the non-life sector, following a short-termcontraction, premiums are forecast to grow, particularly in the health insurance segment. Despite thisgrowth penetration and density rates will remain relatively low, indicating that further longer termpotential remains.

Key Updates And Forecasts

- The Czech National Bank (CNB) announced in February 2016 it will keep its currency cap of CZK27.00/EUR and leave its policy rate at 0.05% in 2016, which will continue to dampen investment returns in thelife sector. However, with the CNB's inflation target in sight by end-2017, the koruna will return to afree-floating mechanism, leading to broad based appreciation.

- We are maintaining our current forecasts for a short-term decline in the non-life sector in 2016, whenpremiums are measured in local currency terms. The outlook is more positive over the remainder of theforecast period, with premiums forecast to reach CZK87.4bn in 2020, up from CZK83.2bn in 2016.

Table Of Contents

Czech Republic Insurance Report Q3 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 - Q316 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 45
UNIQA Group 49
Vienna Insurance Group (VIG) 52
Methodology 56
Industry Forecast Methodology 56
Risk/Reward Index Methodology 59
Table: Indicators 61
Table: Weighting of Indicators 62

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