Reinsurance in the Czech Republic, Key Trends and Opportunities to 2018

Date: June 4, 2014
Pages: 71
Price:
US$ 1,950.00
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Publisher: Timetric
Report type: Strategic Report
Delivery: E-mail Delivery (PDF)
ID: R98BEF2B426EN
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Reinsurance in the Czech Republic, Key Trends and Opportunities to 2018
SYNOPSIS

The report provides in depth market analysis, information and insights into the Czech reinsurance segment, including:
  • The Czech reinsurance segment's growth prospects by reinsurance categories
  • Key trends and drivers for the reinsurance segment
  • The Czech reinsurance segment’s growth prospects by reinsurance ceded from direct insurance segments
  • The competitive landscape in the Czech reinsurance segment
SUMMARY

The Czech reinsurance segment recorded significant growth during the review period (2009–2013), at a compound annual growth rate CAGR of 19.5%. The country frequently faces severe weather conditions, such as catastrophic flooding in 2002, heavy snowfall in 2006, windstorm Kyrill in 2007, and flooding in 2010 and in June 2013. As a result, there is high demand for insurance protection against natural disasters, and insurance companies tend to rely on reinsurance services to mitigate their risks, as the high number of natural disasters will therefore benefit the reinsurance segment.

SCOPE

This report provides a comprehensive analysis of the reinsurance segment in the Czech Republic:
  • It provides historical values for the Czech Republic’s reinsurance segment for the report’s 2009–2013 review period and forecast figures for the 2013–2018 forecast period.
  • It offers a detailed analysis of the key sub-segments in the Czech Republic’s reinsurance segment, along with market forecasts until 2018.
  • It provides a detailed analysis of the reinsurance ceded from various direct insurance segments in the Czech Republic and its growth prospects.
REASONS TO BUY
  • Make strategic business decisions using in depth historic and forecast market data related to the Czech reinsurance segment and each sector within it
  • Understand the demand-side dynamics, key market trends and growth opportunities within the Czech reinsurance segment
  • Identify the growth opportunities and market dynamics within key product categories
  • Gain insights into key regulations governing the Czech insurance industry and its impact on companies and the market's future
KEY HIGHLIGHTS
  • The Czech reinsurance segment recorded significant growth during the review period (2009–2013), at a compound annual growth rate CAGR of 19.5%.
  • Regarding the implementation of Solvency II, regulatory changes by the EU commission and CNB are expected to increase insurers’ minimum stipulated capital requirements over the forecast period.
  • Prior to 2008, there were no reinsurance companies operating in the Czech Republic.
  • The reinsurance segment is dominated by VIG Re Zajišťovna as, a subsidiary of Vienna Insurance Group (VIG), which is the only company operating as a reinsurer that has been licensed by the Czech National Bank.
1 EXECUTIVE SUMMARY

2 INTRODUCTION

2.1 What is this Report About?
2.2 Definitions
2.3 Methodology

3 CZECH INSURANCE INDUSTRY ATTRACTIVENESS

3.1 Insurance Industry Size, 2009–2018
3.2 Reinsurance Growth Dynamics and Challenges
  3.2.1 Reinsurance segment size, 2009–2018
  3.2.2 Reinsurance segment size by type of insurance, 2009–2018

4 KEY INSURANCE INDUSTRY TRENDS AND DRIVERS

4.1 Key Trends
4.2 Life Insurance Growth Drivers
4.3 Non-Life Insurance Growth Drivers
4.4 Personal Accident and Health Insurance Growth Drivers

5 COMPETITIVE LANDSCAPE AND STRATEGIC INSIGHTS

5.1 Overview
5.2 VIG Re Zajišťovna AS – Company Overview
  5.2.1 VIG Re Zajišťovna AS – key facts
  5.2.2 VIG Re Zajišťovna AS – key financial analysis

6 BUSINESS ENVIRONMENT AND COUNTRY RISK

6.1 Business Confidence
  6.1.1 Market capitalization trend – Prague Stock Exchange, Czech Republic
6.2 Economic Performance
  6.2.1 GDP at constant prices (US$)
  6.2.2 GDP per capita at constant prices (US$)
  6.2.3 GDP at current prices (US$)
  6.2.4 GDP per capita at current prices (US$)
  6.2.5 GDP by key segments
  6.2.6 Agriculture, hunting, forestry and fishing net output at current prices (US$)
  6.2.7 Agriculture, hunting, forestry and fishing net output at current prices as a percentage of GDP
  6.2.8 Manufacturing net output at current prices (US$)
  6.2.9 Manufacturing net output at current prices as a percentage of GDP
  6.2.10 Mining, manufacturing and utilities at current prices (US$)
  6.2.11 Mining, manufacturing and utilities at current prices, as percentage of GDP
  6.2.12 Construction net output at current prices, (US$)
  6.2.13 Construction net output at current prices as a percentage of GDP
  6.2.14 Inflation rate
  6.2.15 Exports as a percentage of GDP
  6.2.16 Imports as a percentage of GDP
  6.2.17 Merchandise Exports growth
  6.2.18 Merchandise Imports growth
  6.2.19 Annual average exchange rate CZK–US$
6.3 Infrastructure
  6.3.1 Commercial vehicles exports – total value
  6.3.2 Commercial vehicles imports – total value
  6.3.3 Automotive exports – total value
  6.3.4 Automotive imports – total value
  6.3.5 Total internet subscribers
6.4 Labor Force
  6.4.1 Labor force
  6.4.2 Unemployment rate
6.5 Demographics
  6.5.1 Gross national disposable income (US$)
  6.5.2 Household consumption expenditure (US$)
  6.5.3 Total population
  6.5.4 Urban and rural population
  6.5.5 Age distribution of the total population

7 APPENDIX

7.1 Methodology
7.2 Contact Timetric
7.3 About Timetric
7.4 Timetric’s Services
7.5 Disclaimer

LIST OF TABLES

Table 1: Insurance Industry Definitions
Table 2: Czech Insurance – Gross Written Premium by Segment (CZK Billion), 2009–2013
Table 3: Czech Insurance – Gross Written Premium by Segment (US$ Billion), 2009–2013
Table 4: Czech Insurance – Gross Written Premium by Segment (CZK Billion), 2013–2018
Table 5: Czech Insurance – Gross Written Premium by Segment (US$ Billion), 2013–2018
Table 6: Czech Insurance – Segmentation (Percentage Share), 2009–2018
Table 7: Czech Life Insurance – New Business Written Premium (CZK Billion), 2009–2013
Table 8: Czech Life Insurance – New Business Written Premium (CZK Billion), 2013–2018
Table 9: Czech Reinsurance by Category (CZK Billion), 2009–2013
Table 10: Czech Reinsurance by Category (US$ Million), 2009–2013
Table 11: Czech Reinsurance by Category (CZK Billion), 2013–2018
Table 12: Czech Reinsurance by Category (US$ Million), 2013–2018
Table 13: Czech Premium Ceded to Reinsurance by Type of Insurance (CZK Billion), 2009–2013
Table 14: Czech Premium Ceded to Reinsurance by Type of Insurance (US$ Million), 2009–2013
Table 15: Czech Premium Ceded to Reinsurance by Type of Insurance (CZK Billion), 2013–2018
Table 16: Czech Premium Ceded to Reinsurance by Type of Insurance (US$ Million), 2013–2018
Table 17: Czech Life Insurance – Percentage of Reinsurance Ceded (%), 2009–2013
Table 18: Czech Life Insurance – Percentage of Reinsurance Ceded (%), 2013–2018
Table 19: Czech Non-Life Insurance –Percentage of Reinsurance Ceded, 2009–2013
Table 20: Czech Non-Life Insurance –Percentage of Reinsurance Ceded, 2013–2018
Table 21: Czech Personal Accident and Health Insurance – Percentage of Reinsurance Ceded (%), 2009–2013
Table 22: Czech Personal Accident and Health Insurance – Percentage of Reinsurance Ceded (%), 2013–2018
Table 23: VIG Re Zajišťovna AS, Key Facts
Table 24: VIG Re Zajišťovna AS, Key Financial Analysis (CZK Million), 2009–2011

LIST OF FIGURES

Figure 1: Czech Insurance – Overall Written Premium by Segment (CZK Billion), 2009–2018
Figure 2: Czech Insurance – Dynamics by Segment, 2009–2018
Figure 3: Czech Life Insurance – New Business Written Premium (CZK Billion), 2009–2013
Figure 4: Czech Life Insurance – New Business Written Premium (CZK Billion), 2013–2018
Figure 5: Czech Premium Ceded to Reinsurance by Category (CZK Billion), 2009–2018
Figure 6: Czech Premium Ceded to Reinsurance by Type of Insurance (CZK Billion), 2009–2018
Figure 7: Czech Reinsurance – Dynamics by Type of Insurance, 2009–2018
Figure 8: Czech Life Insurance – Percentage of Reinsurance Ceded (%), 2009–2013
Figure 9: Czech Life Insurance – Percentage of Reinsurance Ceded (%), 2013–2018
Figure 10: Czech Non-Life Insurance –Percentage of Reinsurance Ceded, 2009–2013
Figure 11: Czech Non-Life Insurance –Percentage of Reinsurance Ceded, 2013–2018
Figure 12: Czech Personal Accident and Health Insurance – Percentage of Reinsurance Ceded (%), 2009–2013
Figure 13: Czech Personal Accident and Health Insurance – Percentage of Reinsurance Ceded (%), 2013–2018
Figure 14: Prague Stock Exchange Market Capitalization (US$ Billion), 2008–2012
Figure 15: Czech GDP at Constant Prices (US$ Billion), 2008–2012
Figure 16: Czech GDP Per Capita at Constant Prices (US$), 2008–2012
Figure 17: Czech GDP at Current Prices (US$ Billion), 2008–2012
Figure 18: Czech GDP Per Capita at Current Prices (US$), 2008–2012
Figure 19: Czech GDP by Key Segments (%) 2007 and 2011
Figure 20: Czech Agriculture, Hunting, Forestry and Fishing Net Output at Current Prices (US$ Billion), 2008–2012
Figure 21: Czech Agriculture, Hunting, Forestry and Fishing Net Output at Current Prices as a Percentage of GDP (%), 2007–2011
Figure 22: Czech Manufacturing Net Output at Current Prices (US$ Billion), 2008–2012
Figure 23: Czech Manufacturing Net Output at Current Prices as a Percentage of GDP (%), 2007–2011
Figure 24: Czech Mining, Manufacturing and Utilities Net Output at Current Prices (US$ Billion), 2008–2012
Figure 25: Czech Mining, Manufacturing and Utilities Net Output at Current Prices as a percentage of GDP (%), 2007–2011
Figure 26: Czech Construction Net Output at Current Prices (US$ Billion), 2008– 2012
Figure 27: Czech Construction Output at Current Prices as a Percentage of GDP (%), 2007–2011
Figure 28: Czech Inflation Rate (%), 2008–2012
Figure 29: Czech Exports as a Percentage of GDP (%), 2007–2011
Figure 30: Czech Imports as a Percentage of GDP (%), 2007–2011
Figure 31: Czech Merchandise Exports Growth (%), 2008–2011
Figure 32: Czech Merchandise Imports Growth (%), 2008–2011
Figure 33: Czech Annual Average Exchange Rate US$–CZK, 2008–2012
Figure 34: Czech Commercial Vehicles Exports – Total Value (US$ Billion), 2007–2011
Figure 35: Czech Commercial Vehicles Imports – Total Value (US$ Billion), 2007–2011
Figure 36: Czech Automotive Exports – Total Value (US$ Billion), 2007–2011
Figure 37: Czech Automotive Imports – Total Value (US$ Billion), 2007–2011
Figure 38: Czech Internet Subscriptions (Millions), 2007–2011
Figure 39: Czech Size of Labor Force (Million), 2008–2012
Figure 40: Czech Unemployment Rate (%), 2008–2012
Figure 41: Czech Gross National Disposable Income (US$ Billion), 2008–2012
Figure 42: Czech Household Consumption Expenditure (US$ Billion), 2008–2012
Figure 43: Czech Total Population (Million), 2008–2012
Figure 44: Czech Urban and Rural Population (%), 2008–2012
Figure 45: Czech Population Distribution by Age (%), 2008–2012

COMPANIES MENTIONED

VIG Re Zajišťovna AS

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