Non-Life Insurance in the Czech Republic, Key Trends and Opportunities to 2016

Synopsis

The report provides top-level market analysis, information and insights into the Czech Republic non-life insurance market, including:

• The Czech Republic non-life insurance market’s growth prospects by non-life insurance categories
• The various distribution channels in the Czech Republic non-life insurance market
• The competitive landscape in the non-life insurance market in the Czech Republic
• A description of the non-life reinsurance market in the Czech Republic

Summary

The Czech non-life insurance segment recorded stable growth during the review period (2007-2011). This increase was supported by the country’s moderate economic growth, macroeconomic stabilization and the increasing penetration of non-life insurance products. Natural disasters such as floods in the years 2009 and 2010 had a significant impact on the Czech Republic during the review period, causing large-scale property damage. This is expected to encourage the country’s property and casualty insurers to improve and develop their insurance schemes, making them more effective and reducing their cost. Over the forecast period (2012-2016), non-life insurance segment growth is expected to be driven by the development of large-scale renewable energy and infrastructure projects that will require innovative and customized non-life insurance products.

Scope

This report provides a comprehensive analysis of the non-life insurance market in the Czech Republic:

• It provides historical values for the Czech Republic’s non-life insurance market for the report’s 2007-2011 review period and forecast figures for the 2012-2016 forecast period
• It offers a detailed analysis of the key sub-segments in the Czech Republic’s non-life insurance market, along with market forecasts until 2016
• It covers an exhaustive list of parameters, including written premium, incurred loss, loss ratio, commissions and expenses, combined ratio, frauds and crimes, total assets, total investment income and retentions
• It analyses the various distribution channels for non-life insurance products in the Czech Republic
• Using Porter’s industry-standard “Five Forces” analysis, it details the competitive landscape in the Czech Republic for the non-life insurance business
• It provides a detailed analysis of the reinsurance market in the Czech Republic and its growth prospects
• It profiles the top non-life insurance companies in the Czech Republic, and outlines the key regulations affecting them

Reasons To Buy

• Make strategic business decisions using top-level historic and forecast market data related to the Czech Republic non-life insurance market and each sector within it
• Understand the demand-side dynamics, key market trends and growth opportunities within the Czech Republic non-life insurance market
• Assess the competitive dynamics in the non-life insurance market, along with the reinsurance segment
• Identify the growth opportunities and market dynamics within key product categories
• Gain insights into key regulations governing the Czech Republic insurance market and its impact on companies and the market's future

Key Highlights

• Natural disasters such as floods in the years 2009 and 2010 had a significant impact on the Czech Republic during the review period, causing large-scale loss of life and property damage
• In 2007, more than one million hectares was insured and approximately 4,000 farms purchased insurance policies because farmers wanted to decrease their loss from unexpected weather conditions
• Motor insurance category premiums decreased during the review period, due to a significant fall in motor vehicle insurance written premium prices. This fall happened due to the decline in the average price of new cars and the economic downturn
• The government of the Czech Republic offers premium subsidies for both crop and farm animal insurance through the Support and Guarantee Fund for Farmers and Forestry