|
|
 |
|
Viewing report
|
|
|
|
Czech Republic Insurance Report Q3 2011
Business Monitor International, June 2011, Pages: 73
Czech Republic Insurance Report provides industry professionals and strategists, corporate analysts, insurance associations, government departments and regulatory bodies with independent forecasts and competitive intelligence on Czech Republic's insurance industry.
The insurance sector has now emerged from the global financial crisis and appears set to resume its previous growth path.
- Among the countries of Central and Eastern Europe, the Czech Republic has an insurance sector that is comparatively large, well developed, open and appropriately regulated.
- Despite having static population growth, the non-life product density and the life sector penetration figures are expected to increase significantly over the forecast period to 2015.
- The industry’s prospects are underpinned by an economy that is growing steadily at about 5% per annum and a stable political and security environment.
The global financial crisis interrupted the growth trajectory that had been enjoyed by the Czech insurance sector. While life sector growth stalled and non-life premiums actually retreated marginally, the impact was nowhere near as severe as it was in many other countries. Both the economy and the insurance sector have recovered to the extent that we forecast solid growth for the next few years.
Life sector growth stalled in 2009 but recovered in 2010, with a return to solid investment yields. While many of the major multinational insurers are represented the market is dominated by companies owned by Generali and Vienna Insurance Group. These two control more than 50% of the market.
The non-life segment is larger than the life segment and is growing at a faster rate. In common with many newer markets, motor insurance is the largest segment but over time growth in other product lines will erode its relative importance. As with the life sector, companies owned by Generali and Vienna Insurance Group control more than 50% of the total premium pool.
Product samples
A sample for this product is available. Please Login/Register to download this sample.
|
|
|
|
