The FINANCIAL -- Vienna
Insurance Group continued on its successful path in the Czech Republic
also in 2013. Strengthening its number one position by increasing its
market share to excellent 33.1 percent, the Group further widened the
gap to its competitors, according to Vienna
Last year, the Group companies Kooperativa, Česká podnikatelská pojišťovna (ČPP) and Pojišťovna České spořitelny (PČS) grew their premiums to almost 50 billion Czech koruna*. This represents an outstanding plus of 3.3 percent, while the market grew by one percent. Contributing about 20 percent to the total Group premiums last year, the core market Czech Republic is the largest CEE market of Vienna Insurance Group.
The development of the life insurance business has been particularly favourable: the premiums of the Group companies rose by remarkable 7.5 percent, while the overall market faced a downturn. The success was especially due to the excellent cooperation with the Czech Erste Group subsidiary Česká spořitelna.
“We are highly pleased about the strong performance of VIG in the Czech Republic. The Group continued to expand its market leadership and increased premiums significantly above the market average. VIG manages to be successful in this important CEE market even against the background of an economically challenging environment,” said Peter Hagen, CEO of Vienna Insurance Group.