"Czech Republic Insurance Report Q4 2014" Published

From: Fast Market Research, Inc.
Published: Fri Oct 17 2014

Recent data released by the CAP (the insurers trade asso ciation) in relation to Q1 14 support s our view that premiums in life and non-life will grow at a very slow pace. The principle challenge in the sector is its highly competitive nature which has put downwards pressure on prices and rates. The leading players are able to leverage scale, brand, access to capital markets, product development know-how and multi-channel distribution (including, in many cases, close relationships with major banking groups). The main beneficiaries are the consumers, both households and companies who purchase insurance products. Most of the leading companies manage to achieve respectable profits ; however , our view is that intense competition in the sector means that there is at present little chance of substantial growth in premiums any time soon.

Full Report Details at
- http://www.fastmr.com/prod/888036_czech_republic_insurance_report_q4_2014.aspx?afid=301

As of late-2014, broadly speaking the Czech insurance sector is much more similar to those of Western Europe than it does to its peers in Central and Eastern Europe. The obvious strengths include the general resilience of premiums in both major segments despite a challenging financial and economic environment through 2012 and early 2013. Competition in the insurance industry is intense and is very much dominated by subsidiaries of global and regional giants such as Vienna Insurance Group (VIG), Generali, KBC and Allianz. These companies have the benefits of scale within the Czech Republic and across Europe. The Czech Republic represents a key market for these multinationals within their Central and Eastern Europe business. Despite this dominance, however, there is room for smaller insurers when focusing on more niche insurance markets.

The motor insurance segment is currently one experiencing a great number of difficulties, premiums really struggling. Due to its dominance amongst non-life sub-sectors this has also had a knock on effect on the entire non-life segment. Unlike motor-related lines we are expecting...

The Czech Republic Insurance Report has been researched at source and features Business Monitor International (BMI)'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.

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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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