Czech insurance sector profit down 6.1% in H1 2011.

By bne IntelliNews October 4, 2011
The net profit of Czech insurance sector fell by 6.1% to CZK 8.447bn (EUR 339.6mn) in the first half of 2011, according to data from the central bank. Gross written premiums rose by 2.44% y/y to 80.9bn in January to June, supported by a 7.37% increase in the life insurance sector. Non-life premiums edged down 1.42% on the year to CZK 43.7bn. The assets of insurance companies active on the local market totalled CZK 429.9bn as of end-June 2011, an annual increase of 6.41%. According to earlier published data from Czech insurance association CAPCzech insurance companies collected premiums of CZK 73.9bn in the first half of 2011, up 2.6% y/y. CAP comprises almost all local insurance companies, accounting for 98% of the market.
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