Czech Republic Insurance Report - Business Monitor International - Industry Reports

Czech Republic Insurance Report

Czech Republic Insurance Report - Business Monitor International - Industry Reports
Czech Republic Insurance Report
Published Jul 23, 2016
64 pages — Published Jul 23, 2016
Price US$ 1,295.00  |  Buy this Report Now

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Abstract:

A strong domestic consumption backdrop will support growth in life insurance spending over the next few years as Czechs take advantage of robust economic growth, low interest rates and energy prices to increase discretionary spending. While GDP will slow in ---- to -.- , the Czech economy will outpace that of the eurozone over the wider --------- forecast period. ...While GDP will slow in ---- to -.- , the Czech economy will outpace that of the eurozone over the wider --------- forecast period. Despite a favourable macroeconomic backdrop, growth in premiums will be hampered by intense competition in the life market, which is highly fragmented and home to a number of small and medium-sized firms. Following an expansion of -.- in ----, we expect premiums to grow by - annually on average through the remainder of the forecast period. This rate of growth will premiums expand from CZK--.-bn (USD-.-bn) in ---- to CZK--.-bn (USD-.-bn) in ----. Over the longer term there remains significant potential for future growth as low penetration and density suggest a market that has not yet fully matured and insurers that are able to drive organic growth through effective awareness raising marketing campaigns

...� Business Monitor International Ltd Page -- and product innovation can tap into considerable potential as the Czech economy expands and household income rises. Indeed household income is a key indicator of growth potential. ...Indeed household income is a key indicator of growth potential. Households earning in the USD--,---+ income bracket - a key bracket for the insurance industry, and the main indicator of the size of the middle class - account for over -- of all households in the Czech Republic and this number is increasing further. Also a positive sign is the increase in the number of households falling into the income bracket of USD--,---+ and the shrinking of the lower income brackets. Tax and social contributions constitute a relatively small portion of gross income, expected to remain at a consistent --.- throughout the forecast period. These factors all indicate gradual growth in capacity for spending on various life insurance products.

...< ALACRA META ABSTRACT>BMI View: Though well developed, the Czech insurance market is less mature than most in the EU and there is significant room for expansion in smaller lines such as health and personal accident insurance. These factors, combined with a benevolent outlook for economic growth and consumer spending should present an opportunity for investors and new entrants over the next few years as the economy outperforms many of those in the region. ...

  
Source:
Document ID
1750-5631
Country
Industry
Format:
PDF Adobe Acrobat
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Business Monitor International - Industry Reports—Established in 1984, Business Monitor International is a leading online publisher of specialist business information on global emerging markets. Business Monitor's range of quarterly services covers political risk, finance, macroeconomic performance, outlook and forecast, industry sectors and the business operating environment. Each Industry Report has been researched at source, and features latest-available data covering production, sales, imports and exports; 5-year industry forecasts through end-2012; company rankings and competitive landscapes for multinational and local manufacturers and suppliers; and analysis of latest industry developments, trends and regulatory changes.

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MLA:
Business Monitor International - Industry Reports. "Czech Republic Insurance Report" Jul 23, 2016. Alacra Store. Dec 10, 2016. <http://www.alacrastore.com/storecontent/Business-Monitor-International-Industry-Reports/Czech-Republic-Insurance-Report-2026-239>
  
APA:
Business Monitor International - Industry Reports. (2016). Czech Republic Insurance Report Jul 23, 2016. New York, NY: Alacra Store. Retrieved Dec 10, 2016 from <http://www.alacrastore.com/storecontent/Business-Monitor-International-Industry-Reports/Czech-Republic-Insurance-Report-2026-239>
  
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