Czech Republic Insurance Report Q3 2016 - New Report Available

From: Fast Market Research, Inc.
Published: Wed Apr 27 2016


The insurance market in the Czech Republic is relatively well developed, with a number of domestic and multinational insurers in the country providing a broad range of life and non-life products. The marketplace is fragmented and we do expect to see some consolidation among the smaller firms over the course of the forecast period, potentially via mergers and acquisitions by foreign firms attracted by the solid regulatory environment and growth potential. Although a small market, premiums in the Czech life market are forecast to grow steadily, supported by wider economic growth in the country - though we note that low interest rates will continue to dampen demand. In the non-life sector, following a short-term contraction, premiums are forecast to grow, particularly in the health insurance segment. Despite this growth penetration and density rates will remain relatively low, indicating that further longer term potential remains.

Key Updates And Forecasts

The Czech National Bank (CNB) announced in February 2016 it will keep its currency cap of CZK27.00/EUR and leave its policy rate at 0.05% in 2016, which will continue to dampen investment returns in the life sector. However, with the CNB's inflation target in sight by end-2017, the koruna will return to a free-floating mechanism, leading to broad based appreciation.

Full Report Details at
- http://www.fastmr.com/prod/1152810_czech_republic_insurance.aspx?afid=301

We are maintaining our current forecasts for a short-term decline in the non-life sector in 2016, when premiums are measured in local currency terms. The outlook is more positive over the remainder of the forecast period, with premiums forecast to reach CZK87.4bn in 2020, up from CZK83.2bn in 2016.

The slightly smaller life sector is expected to record more consistent growth over the next few years, supported by rising household income rates and wider economic growth. Life premiums are forecast to increase from CZK75.5bn in 2016 to CZK81.7bn in 2020.

The Czech Republic Insurance Report has been researched at source and features BMI Research's independent assessment and forecasts for the insurance sector. It examines industry developments, key growth drivers and risk management projections, including the macroeconomic situation, government policy, regulatory environment and the level of development and potential for growth, broken down by line. Leading insurers are profiled, covering premiums, products and services and competitive positioning.

BMI's Czech Republic Insurance Report provides professionals, consultancies, government departments, regulatory bodies and researchers with independent forecasts and regional competitive intelligence on the Czech insurance industry.

Key Benefits
Benchmark BMI's independent insurance industry forecasts for Czech Republic to test other views - a key input for successful budgeting and strategic business planning in Czech Republic's insurance market.

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Company: Fast Market Research, Inc.
Contact Name: Bill Thompson
Contact Email: press@fastmr.com
Contact Phone: 1-413-485-7001

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