Czech insurance company Pojistovna VZP has asked the Czech National Bank (CNB) for a license to provide vehicle liability insurance.

Marking the first anniversary of Willis Towers Watson's Prague office, we are delighted to present our report into the prospects for the Czech insurance industry in the years to 2020. In this unique survey of 49 senior insurance executives from across the industry - insurers, reinsurers, intermediaries, academics and industry associations - we sought to identify the key trends, risks, opportunities and keys to success for insurance companies.

Unipetrol received another insurance compensation at USD 40mln (CZK 1bn) related to FCC unit accident at Kralupy. It is the first compensation linked to Kralupy unit that increases total amount received to CZK 8.9bn (CZK 7.9bn received in 2016 linked to Litvinov unit). This increases chances for dividend announcement (setting up official dividend policy) around mid of March when Company plans to publish its new strategy.

At the end of 2016, the aggregate GWP value of the Czech insurance market amounted, according to the Czech Insurance Association (CAP), to CZK 118.5 billion (about EUR 4.4 billion), meaning a 2.1% y-o-y growth rate.

At the end the third quarter of 2016, the Czech Rep. insurance market totaled CZK 111.6 billion (EUR 4.1 billion), 3.7% less y-o-y, according to the market statistics published on the Czech National Bank website. If the life insurance segment reported an 8% y-o-y decrease (to EUR 1.6 billion), the non-life insurance maintained at about the 3Q2015 level: GWP of EUR 2.5 billion.

In accordance with the EU directive 2014/95/EU, business corporations with more than 500 employees that qualify as large undertakings and public-interest entities as defined by the Czech act on accounting (these include, for instance, banks, insurance companies or large companies with securities admitted to trading on an-EU regulated market) are subject to so-called non-financial reporting starting January 1, 2017.

According to data released by the Czech Insurance Association (CAP), in 3Q 2016 the insurance market has been driven by non-life insurance segment which reported a y-o-y growth rate of 4.2%, while life policies continues to decrease by about 2.1%. Overall, the aggregate GWP increased slightly by CZK 1.61 billion (to CZK 89.57 billion or EUR 3.32.billion), which corresponds to a y-o-y growth rate of 1.8%.

A.M. Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating of "a" of Ceska pojistovna a.s. (Ceska) (Czech Republic). The outlook of these Credit Ratings (ratings) remains stable.

The Czech central bank said on Monday it had withdrawn the licence of ERB, a small Russian-owned bank operating in the Czech market.

Insurance companies are increasingly investing on the Czech real estate market. Ceska pojistovna purchased Hotel Prague Inn at Mustek in Prague 1 through its fund, bringing the total value of its property portfolio to CZK 8 bn.

The total written premium of the members of the Czech Insurance Association (CAP) has increased by c. CZK 1.2 billion on year- on-year basis, which corresponds to 2% growth. The positive development of the insurance market in the first six months is still supported by non-life insurance, which reported c. 4.5% volume growth and thus again became the most dynamic segment. Also life insurance, which has been showing a more significant decrease in the last two years, slowed down the decline from 3.4% in the 1st quarter to 2.2%.

At the end of March 2016, the Czech Republic insurance market totaled CZK 31.12 billion (about EUR 1.15 billion), 1.27% more y-o-y, according to the results of the members of the Czech Insurance Association (CAP). The most dynamic sector in non-life insurance is collision insurance. Collision insurance (n.red.: MOD insurance) strengthened year-on-year by 9.2% and helped to maintain the continuing growth of the entire non-life segment", CAP annoucend in a press release.

CSOB says Q1 net profit down 13 percent y/y to CZK 3.3 billion (USD 139.03 million), impacted by banking taxes, declining margin, lower fees.

Insurance market data for 2015 published by the Czech National Bank (CNB) confirm the GWP growth on the non-life insurance segment, at a pace of 4.9%, to CZK 90.98 billion (EUR 3.37 billion). Life insurance GWP went down by 12.3%, according to CNB data, while the entire market recorded an almost 3% decrease, to CZK 153.4 billion (EUR 5.67 billion).

The preliminary results of the Czech Insurance Association (CAP) for 2015 show an annual increase of CZK 1.1 billion, which is a 1% rise, in the premium volume. Premium growth accelerated in the second half of the year compared to a 0.3% increase in the first half. Same as last year, the insurance market is backed up by non-life insurance, which strengthened by 4%. Life insurance, on the other hand, is continuously weakening, namely by 3.5% in comparison with 2014.

The Czech insurance market totaled at the end of the first three quarters of 2015 about CZK 116 billion (EUR 4.3 billion), 3.6% less y-o-y, according to data provided by the Czech National Bank (CNB). Non-life segment reported a positive dynamic in GWP (+4.8% y-o-y to CZK 69.2 billion), while the life insurance segment contracted by 13.7% to CZK 46.8 billion.

The Czech antitrust watchdog (UOHS) announced it allowed the Czech insurance branches of financial group WUSTENROT & WURTTEMBERGISCHE (the non-life insurer WUSTENROT Pojistovna and the life insurer WUSTENROT Zivotni Pojistovna) to be aquired by the German group ALLIANZ.

The Czech insurance market ended the first three quarters of 2015 with GWP of EUR 3.23 billion (CZK 87.96 billion), 1.87% up y-o-y, according to data provided by the Czech Insurance Association (CAP). Non-life recorded a positive change in GWP, acting thus as the market driver, while the life insurance segment saw a further decrease in premiums.

According data provided by the Czech National Bank, in the first half of 2015 the Czech insurance market saw a 5.7% decrease in GWP (or 4.99% decrease for the market results denominated in European currency), to CZK 78.2 billion (EUR 2.87 billion). The life insurance segment is entirely responsible for the negative trend, mostly because of the huge decrease in single premium insurance products sales.

The results of the Czech Insurance Association (CAP) member companies for the first quarter of 2015 show an increase of 0.5% in total annual premiums. Market stagnation mainly results from an ongoing decline in life insurance reaching almost 3%. Non-life insurance is still experiencing a mild recovery, namely from 2.3% at the end of 2014 to 2.6%.