- 16.4% of the total premium volume generated by the Vienna Insurance Group comes from the Czech Republic.
- Profit before taxes reaches a record high of EUR 73.81 million (+24.8%) in the Czech Republic.
- Every third automobile in the Czech Republic is insured with the Vienna Insurance Group.
The Vienna Insurance Group is represented by Kooperativa and ČPP in the Czech Republic.
Kooperativa pojišt’ovna a.s.,
VIENNA INSURANCE GROUP
Kooperativa is a composite insurer offering both life and non-life insurance in the Czech Republic. Kooperativa is the largest member company of the Vienna Insurance Group outside of Austria.
Kooperativa is the second largest insurance company in the Czech Republic and is represented nationwide by more than 300 offices. Kooperativa has more than 3,700 employees serving in excess of two million customers. Every fifth person in the Czech Republic is one of Kooperativa’s customers.
Kooperativa is number 1 in industrial and business insurance on the Czech insurance market. The company is also very successful in the area of unit-linked life insurance. The product Perspektiva was highly popular with Kooperativa’s customers in 2007, posting an increase of more than 220% over the previous year. The success of this award-winning product is due in part to active management of the portfolio. The fund changes the ratio of equities to bonds depending on current market conditions.
Kooperativa also successfully entered the health care area in 2007. It has been the majority owner of the Mélník Hospital in the vicinity of Prague since 1 January 2008. The hospital is to be converted into a modern health care centre that will provide patient care in a pleasant environment with a high standard of technical equipment.
Česká podnikatelská pojišt’ovna, a.s., VIENNA INSURANCE GROUP
The Česká podnikatelská pojišt’ovna (ČPP) has been a member of the Vienna Insurance Group since 2005, and has operated as a composite insurer in both the life and non-life insurance markets in the Czech Republic for more than 10 years.
At the end of 2007, the company had over 900 employees in approximately 290 service centres attending to the needs of 600,000 customers. ČPP concentrates mainly on the area of motor vehicle insurance, although life insurance is increasingly gaining in importance. Life insurance already accounts for 25% of total premium volume.
In addition to providing knowledgeable, detailed advice to assist in the selection of insurance coverage, ČPP also places great weight on providing the fastest, easiest customer service possible in the event of a loss. A new service hotline was introduced for this reason.
In addition to expanding collaboration with external distribution partners in the coming year, particular attention will be given to further expansion of the internal distribution network. A merger between a number of departments in ČPP and departments of Kooperativa began in 2006 and was continued in 2007. A high level of synergy can be achieved by combining back office areas.