Czech Republic Insurance Report Q3 2016

Date: April 20, 2016
Pages: 62
US$ 1,295.00
Report type: Strategic Report
Delivery: E-mail Delivery (PDF)
ID: CE1A015E529EN

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Includes 3 FREE quarterly updates

BMI View: The insurance market in the Czech Republic is relatively well developed, with a number of domestic 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 over the course of the forecast period, potentially via mergers and acquisitions by foreign firms attracted by the solid regulatory environment and growth potential. Although a small market, premiums in the Czech life market are forecast to grow steadily, supported by wider economic growth in the country - though we note that low interest rates will continue to dampen demand. In the non-life sector, following a short-term contraction, premiums are forecast to grow, particularly in the health insurance segment. Despite this growth penetration and density rates will remain relatively low, indicating that further longer term potential 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 the life sector. However, with the CNB's inflation target in sight by end-2017, the koruna will return to a free-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, when premiums are measured in local currency terms. The outlook is more positive over the remainder of the forecast period, with premiums forecast to reach CZK87.4bn in 2020, up from CZK83.2bn in 2016.
BMI Industry View
  Table: Headline Insurance Forecasts (Czech Republic 2013-2020)
Industry Forecast
Life Premiums Forecast
  Table: Life Premiums (Czech Republic 2013-2020)
  Table: Life Insurance Claims (Czech Republic 2008-2014)
Non-Life Premiums Forecast
  Table: Non-Life Premiums (Czech Republic 2013-2020)
  Table: Non-Life Insurance Claims (Czech Republic 2009-2014)
Non-Life Sub-Sector Forecast
  Table: Non-Life Insurance Premiums By Product Line (Czech Republic 2013-2020)
Insurance Risk/Reward Index
Emerging Europe Risk/Reward Index
  Table: Emerging Europe Insurance Risk/Reward Index - Q316
Market Overview
Life Market Overview
Product Offering
Competitive Landscape
  Table: Life Insurance Market Share (USDmn), 2008-2014
Non Life Market Overview
Product Offering
Competitive Landscape
  Table: Non-Life Market Share (USDmn), 2008-2014
Company Profile
Vienna Insurance Group (VIG)
Industry Forecast Methodology
Risk/Reward Index Methodology
  Table: Indicators
  Table: Weighting of Indicators
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