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Czech Republic Insurance Report Q4 2012

The 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 Czech Republic Insurance Report considers the prospects for both life and non-life insurers in the country. The latest statistics from the regulator and comments from leading companies that are active in the Czech Republic indicate that in both the main segments premiums tracked sideways in 2011. Total non-life premiums were suppressed by ongoing price competition in both compulsory motorist third-party liability (CMTPL) and voluntary auto (CASCO) insurance. However, life insurance continues to grow.

The Czech Republic is a rare example of a moderately high-income country where life insurance is clearly emerging as an important channel for organised savings. Customers value life insurance, can afford it and have relatively few alternatives (particularly given the current environment of low interest rates). The market is dominated by large and sophisticated multinationals that are well capitalised, can derive economies of scale from their European (if not global) operations, have strong brands and work through multiple distribution channels. Premiums for single paid life insurance policies that are linked with existing policies have been surging.

Thanks to past deal making, Vienna Insurance Group (VIG0 and Generali, through their various subsidiaries, dominate the non-life and the life segments. However, the rankings of the other insurers are far from static. It is possible there will be new arrivals, mergers or departures from both the major segments. The comments from the majors in relation to their performances in 2011 indicate that they have been competing significantly and successfully through the development of new products and services.
Executive Summary 5
Table: Total Premiums, 2009-2016 5

Key Insights And Key Risks 5

SWOT Analysis 7

Czech Republic Insurance Industry SWOT 7

Czech Republic Political 8

Czech Republic Economic SWOT 8

Czech Republic Business Environment SWOT 9

Life Sector 10

Central And Eastern Europe Life Sector Overview 10
Table: Central And Eastern Europe Life Premiums, 2009-2016 10

Czech Republic Life Sector Update 13

Life Industry Forecast Scenario 14
Table: Life Premiums, 2009-2016 14

Growth Drivers And Risk Management Projections 14

Population 14
Table: Insurance Key Drivers, Demographics, 2009-2016 15

Non-Life Sector 17

Central And Eastern Europe Non-Life Sector Overview 17
Table: Central And Eastern Europe Non-Life Premiums, 2009-2016 17

Czech Republic Non-Life Sector Update 19

Non-Life Industry Forecast Scenario 20
Table: Non-Life Premiums, 2009-2016 20

Growth Drivers And Risk Management Projections 21

Macroeconomic Outlook 21

Political Stability Outlook 24
Table: Europe Security Risk Ratings 25

Healthcare 26

Healthcare Insurance 26

Epidemiology 27
Table: Insurance Key Drivers, Disability-Adjusted Life Years 2009-2016 28

Motor 29

Insurance Risk/Reward Ratings 31
Table: Czech Republic’s Insurance Risk/Reward Rating 31
Table: Central And Eastern Europe Insurance Risk/Reward Ratings 32

Competitive Landscape 33

Competitive Landscape Analysis 33

Major Players In The Czech Insurance Sector 34

Company Profiles 36


Allianz 39

AXA 41

BNP Paribas Cardif 44


Generali PPF Holding 50

Czech Republic Insurance Report Q4 2012

© Business Monitor International Ltd

Page 4

MetLife 56

QBE Insurance Group 59

Zavarovalnica Triglav 62

UNIQA Group 65

Vienna Insurance Group 68

Demographic Outlook 72
Table: Population By Age Group, 1990-2020 (‘000) 73
Table: Population By Age Group, 1990-2020 (% of total) 74
Table: Key Population Ratios, 1990-2020 75
Table: Rural/Urban Population Split, 1990-2020 75

BMI Methodology 76

Insurance Risk/Reward Ratings 77
Table: Insurance Business Environment Indicators And Rationale 77
Table: Weighting Of Indicators 79
Companies Mentioned
Ceská pojišt’ovna , , AEGON , Allianz , Aviva , AXA , BNP Paribas Cardif , ERGO , Achmea , Generali , GRAWE , Groupama , HDIGerling/Talanx , ING , KBC Group , MetLife ALICO , Prudential Financial , QBE , RSA , UNIQA , Vienna Insurance Group , Zurich ,
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