The net profit of the Czech insurance sector jumped by34.8% y/y to CZK 12.4bn (EUR 480.2mn) in 2012, according to data from the central bank. Gross written premiums in the non-life insurance segment fell by 1.9% on the year to CZK 81.5bn, while life insurance premiums stayed broadly unchanged at CZK 72bn. Gross claims paid in the general insurance segment dropped to CZK 41.8bn in 2012 from CZK 43.1bn in 2011. In the life insurance segment paid gross claims increased to CZK 46.4bn from CZK 42.1bn .The assets of insurance companies active on the local market totalled CZK 469.2bn as of end-December 2012, marking an annual increase of 13.9%.
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CEFC, the acquisitive Chinese energy group, and Penta Investments, the closely-held Slovak financial group, are bidding together for Time Warner’s stake in Central European Media Enterprises (CME), ... more