The insurance market in the Czech Republic is dominated by two large insurance groups, Vienna Insurance Group and the Generali Group.
The Czech insurance market recorded a slight decrease in non-life premiums (-1.6%) in 2011. This was due to a decrease in motor vehicle premiums. In contrast, the non-life business besides motor vehicle insurance recorded positive growth. The life insurance market remained at the same level as the previous year, with an increase of 0.3%. The market as a whole recorded a decrease of 0.7% in premiums.
Bank distribution is becoming increasingly important compared to traditional distribution channels, especially in the life insurance sector. The government is currently making preparations for additional pension reforms, which will create additional potential for growth in the life insurance and health insurance areas over the medium term.
The average per capita insurance premium was EUR 568.9 in 2010, consisting of EUR 303.4 for non-life insurance and EUR 265.5 for life insurance.
Market growth in 2011 compared to the previous year
Market shares of the major insurance groups