Vienna Insurance Group in the Czech Republic
Kooperativa is “Insurer of the Year” again
All the Czech Group companies score highly in the main categories
For the 11th time, the Association of Czech Insurance Brokers in Prague invited votes for “Insurer of the Year”. Again in 2010, the dominating insurance company on the Czech market was Kooperativa. The largest Czech Group company of the Vienna Insurance Group won first place in all the main categories – industrial and corporate insurance, life insurance, motor insurance and personal insurance – and was consequently voted “Insurer of the Year 2010”.
"Congratulations to our Czech colleagues on this latest award! Winning first place in all the main categories is a very impressive achievement. Recognition by the Association of Insurance Brokers means a great deal to us because brokers, as insurance specialists, are particularly well-qualified to judge the products and services offered by insurance companies. This award confirms the success of our product strategy and customer relations”, comments the delighted CEO of the Vienna Insurance Group, Günter Geyer.
The Vienna Insurance Group’s success on the Czech market is further highlighted by the top places awarded to Česká podnikatelská pojišťovna (ČPP) and Pojišťovna České spořitelny (PČS). The ČPP won 2nd place in the motor insurance category and 3rd place in the personal insurance category. In the life insurance category, PCS was voted into 2nd place behind Kooperativa.
Market leader in the Czech Republic
Vienna Insurance Group, with its Group companies, Kooperativa, PČS, ČPP and VIG Re, is number one in the Czech Republic, one of its core markets. In 2010, the Group generated premiums amounting to EUR 1.8 billion, a clear increase of 9.6 percent. Particularly noteworthy was the 19.8 percent growth of the life insurance segment. Profit before taxes rose by 36.1 percent to EUR 167.3 million.
Kooperativa is the largest Vienna Insurance Group company outside Austria and, with a market share of 22 percent, it is number one in the Czech Republic. As a composite insurer, it offers high quality insurance solutions in both the life and non-life segments.