Ceska Pojistovna

CesPoj's net profit rose 22.2% to CZK 5,140 mil in 2016

By Helgi Analytics - November 05, 2019

Ceska Pojistovna made a net profit of CZK 5,140 mil in 2016, up 22.2% when compared to the last year. This implies a return on e...

CesPoj's employees rose 5.48% to 4,254 in 2016

By Helgi Analytics - November 05, 2019

Ceska Pojistovna employed 4,254 persons in 2016, up 5.48% when compared to the previous year. Historically, the firm's workforce...

CesPoj's Real Estate rose 21.9% to CZK 10,214 mil in 2016

By Helgi Analytics - November 05, 2019

Ceska Pojistovna's total investments reached CZK 193,187 mil at the end of 2016, up 5.41% when compared to the previous year. ...

Profit Statement 2014 2015 2016
Gross Written Premiums CZK mil 28,048 28,652 28,098
Net Written Premiums CZK mil 21,504 18,697 18,181
Total Revenues CZK mil 28,048 26,019 25,936
Expenses For Claims & Benefits CZK mil 13,845 10,881 11,003
Total Cost CZK mil 24,059 19,717 19,893
Pre-Tax Profit CZK mil 4,550 6,302 6,043
Net Profit CZK mil 3,673 4,207 5,140
Dividends CZK mil 3,272 3,684 ...
Balance Sheet 2014 2015 2016
Total Assets CZK mil 209,425 208,154 219,551
Intangible Assets CZK mil 3,013 2,369 2,312
Investments CZK mil 182,973 183,267 193,187
Reinsurance Assets CZK mil 9,977 9,820 9,732
Shareholders' Equity CZK mil 31,413 34,636 38,386
Liabilities CZK mil 178,012 173,518 181,165
Underwritting Provisions CZK mil 77,397 94,490 104,822
Ratios 2014 2015 2016
ROE % 13.4 13.1 14.9
ROA % 1.80 2.01 2.40
Net Margin % 13.1 16.2 19.8
Investment Yield % 1.88 2.98 3.16
Combined Ratio % 77.1 64.3 64.6
Claims Ratio % 66.2 55.0 54.4
Acquisition Cost (As % Of Premiums) % 10.9 9.38 10.1
Equity (As % Of Assets) % 15.0 16.6 17.5
Growth Rates 2014 2015 2016
Gross Written Premiums Growth % -10.4 2.15 -1.93
Pre-Tax Profit Growth % -15.1 38.5 -4.11
Net Profit Growth % -17.0 14.5 22.2
Investments Growth % 7.93 0.161 5.41
Reinsurance Assets Growth % -3.05 -1.57 -0.896
Total Asset Growth % 4.99 -0.607 5.48
Shareholders' Equity Growth % 27.6 10.3 10.8
Underwritting Provisions Growth % -7.36 22.1 10.9

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summary Unit 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016
income statement                                    
Gross Written Premiums CZK mil                       37,664 34,406 33,709 31,313 28,048    
Total Revenues CZK mil                       37,643 31,200 33,976 31,319 28,048    
Total Cost CZK mil                       30,845 27,405 29,199 25,954 24,059    
Net Profit CZK mil                       9,466 3,110 3,693 4,427 3,673    
balance sheet                                    
Cash & Cash Equivalents CZK mil ... ...                   9,862 5,722 9,647 7,272 5,050    
Investments CZK mil ... ...                   146,536 150,672 163,866 169,523 182,973    
Reinsurance Assets CZK mil ... ...                   10,276 9,508 9,735 10,291 9,977    
Total Assets CZK mil ... ...                   183,116 178,230 196,084 199,477 209,425    
Shareholders' Equity CZK mil ... ...                   24,761 17,019 24,906 24,617 31,413    
Liabilities CZK mil ... ...                   158,355 161,211 171,178 174,860 178,012    
Underwritting Provisions CZK mil ... ...                   90,414 87,357 87,267 83,548 77,397    
ratios                                    
ROE % ... ... ...                 38.8 14.9 17.8 18.3 13.4    
ROA % ... ...                   5.21 1.72 1.97 2.24 1.80    
Net Margin %                       25.1 9.97 10.9 14.1 13.1    
Investment Yield % ... ...                   6.90 2.94 6.07 3.16 1.88    
Combined Ratio % ... ...                   80.6 71.3 75.2 77.2 77.1    
Claims Ratio % ... ...                   71.3 59.2 61.9 65.9 66.2    
Cost Ratio % ... ...                   25.2 29.3 31.0 27.8 28.9    
Acquisition Cost (As % Of Premiums) % ... ...                   9.32 12.1 13.3 11.3 10.9    
Administrative Cost (As % Of Assets) % ... ...                   1.78 1.57 1.47 1.35 1.55    
Equity (As % Of Assets) % ... ...                   13.5 9.55 12.7 12.3 15.0    
Life Insurance (As % Of Total Premium) % ... ...                   41.6 38.4 37.0 37.6 38.7    
Non-Life Insurance (As % Of Total Premium) % ... ...                   57.0 59.2 58.4 60.8 65.4    
income statement Unit 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016
income statement                                    
Gross Written Premiums CZK mil                       37,664 34,406 33,709 31,313 28,048    
Premiums Ceded To Reinsurers CZK mil ... ...                   10,836 10,495 10,411 8,906 6,544    
Net Written Premiums CZK mil                       26,828 23,911 23,298 22,407 21,504    
Financial Result CZK mil ... ...                   10,108 4,427 9,951 5,351 3,438    
Other Income CZK mil ... ...                   707 2,862 727 3,561 3,106    
Total Revenues CZK mil                       37,643 31,200 33,976 31,319 28,048    
Expenses For Claims & Benefits CZK mil                       20,386 15,816 16,101 14,764 13,845    
Of Which Reinsurers' Share CZK mil ... ...                   6,457 4,547 4,777 5,875 4,713    
Acquisition Cost CZK mil ... ...                   3,512 4,176 4,471 3,547 3,055    
Administrative Cost CZK mil ... ...                   3,237 2,841 2,745 2,672 3,164    
Other Cost CZK mil ... ...                   3,710 4,572 5,882 4,971 3,995    
Total Cost CZK mil                       30,845 27,405 29,199 25,954 24,059    
Other And Extra Cost CZK mil                       97.0 -61.0 174 6.00 -561    
Pre-Tax Profit CZK mil ... ...                   6,701 3,856 4,603 5,359 4,550    
Tax CZK mil ... ...                   1,053 735 898 857 828    
Minorities CZK mil ... ...                   11.0 11.0 12.0 75.0 49.0    
Net Profit CZK mil                       9,466 3,110 3,693 4,427 3,673    
Dividends CZK mil ... ... ...                 9,400 3,000 3,400 3,344 3,272   ...
growth rates                                    
Gross Written Premiums Growth % ...                     -3.67 -8.65 -2.03 -7.11 -10.4    
Net Written Premiums Growth % ...                     -3.50 -10.9 -2.56 -3.82 -4.03    
Total Revenues Growth % ...                     -2.14 -17.1 8.90 -7.82 -10.4    
Gross Claims Growth % ... ... ...                 10.6 -24.1 2.53 -1.14 -10.1    
Acquisition Cost Growth % ... ... ...                 0.978 18.9 7.06 -20.7 -13.9    
Administrative Cost Growth % ... ... ...                 -3.60 -12.2 -3.38 -2.66 18.4    
Operating Cost Growth % ... ... ...                 6.20 -11.2 6.55 -11.1 -7.30    
Pre-Tax Profit Growth % ... ... ...                 -27.7 -42.5 19.4 16.4 -15.1    
Net Profit Growth % ...                     7.24 -67.1 18.7 19.9 -17.0    
market share                                    
Market Share in Total Insurance Premium %                       24.1 22.2 22.0 20.0 ... ... ...
Market Share in Life Insurance Premium % ... ...                   21.8 18.3 17.3 16.5 ... ... ...
Market Share in Non-Life Insurance Premium % ... ...                   25.4 24.6 24.2 22.4 ... ... ...
Market Share in Net Profit % ...                     44.4 31.9 30.6 39.4 ... ... ...
balance sheet Unit 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016
balance sheet                                    
Intangible Assets CZK mil ... ...                   2,886 2,893 3,269 3,274 3,013    
Investments CZK mil ... ...                   146,536 150,672 163,866 169,523 182,973    
Reinsurance Assets CZK mil ... ...                   10,276 9,508 9,735 10,291 9,977    
Receivables CZK mil ... ...                   11,831 7,407 7,431 7,498 6,940    
Cash & Cash Equivalents CZK mil ... ...                   9,862 5,722 9,647 7,272 5,050    
Other Assets CZK mil ... ...                   1,725 2,028 2,136 1,619 1,472    
Total Assets CZK mil ... ...                   183,116 178,230 196,084 199,477 209,425    
Equity CZK mil ... ...                   24,761 17,019 24,906 24,617 31,413    
Of Which Minority Interest CZK mil ... ...                   67.0 90.0 414 618 657    
Subordinated Liabilities CZK mil ... ...                   0 0 0 0 0    
Underwritting Provisions CZK mil ... ...                   90,414 87,357 87,267 83,548 77,397    
Other Provisions CZK mil ... ...                   1,875 1,446 1,256 1,725 1,652    
Other Liabilities CZK mil ... ...                   66,066 72,408 82,655 89,587 98,963    
Liabilities CZK mil ... ...                   158,355 161,211 171,178 174,860 178,012    
investment portfolio                                    
Real Estate CZK mil ... ...                   1,889 1,891 2,409 5,227 7,454    
Cash And Deposits CZK mil ... ...                   140,579 143,286 158,265 160,858 169,114    
Loans CZK mil ... ...                   4,062 5,489 3,181 3,051 5,942    
Other CZK mil ... ...                   6.00 6.00 11.0 387 463    
Total Portfolio CZK mil ... ...                   146,536 150,672 163,866 169,523 182,973    
growth rates                                    
Investments Growth % ... ... ...                 -0.182 2.82 8.76 3.45 7.93    
Reinsurance Assets Growth % ... ... ...                 10.9 -7.47 2.39 5.71 -3.05    
Total Asset Growth % ... ... ...                 1.66 -2.67 10.0 1.73 4.99    
Shareholders' Equity Growth % ... ... ...                 2.65 -31.3 46.3 -1.16 27.6    
Underwritting Provisions Growth % ... ... ...                 2.50 -3.38 -0.103 -4.26 -7.36    
market share                                    
Market Share in Assets % ... ...                   42.5 41.5 41.9 43.9 ... ... ...
Market Share in Net Profit % ...                     44.4 31.9 30.6 39.4 ... ... ...
Market Share in Technical Reserves % ... ...                   29.2 27.2 23.2 22.7 ... ... ...
Market Share in Life Insurance Reserves %                       31.4 28.8 22.9 22.6 ... ... ...
Market Share in Non-Life Insurance Reserves %                       23.5 22.4 22.4 23.0 ... ... ...
ratios Unit 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016
ratios                                    
ROE % ... ... ...                 38.8 14.9 17.8 18.3 13.4    
ROA % ... ...                   5.21 1.72 1.97 2.24 1.80    
Net Margin %                       25.1 9.97 10.9 14.1 13.1    
Investment Yield % ... ...                   6.90 2.94 6.07 3.16 1.88    
Combined Ratio % ... ...                   80.6 71.3 75.2 77.2 77.1    
Claims Ratio % ... ...                   71.3 59.2 61.9 65.9 66.2    
Cost Ratio % ... ...                   25.2 29.3 31.0 27.8 28.9    
Acquisition Cost (As % Of Premiums Written) % ... ...                   9.32 12.1 13.3 11.3 10.9    
Administrative Cost (As % Of Assets) % ... ...                   1.78 1.57 1.47 1.35 1.55    
Equity (As % Of Assets) % ... ...                   13.5 9.55 12.7 12.3 15.0    
Payout Ratio % ... ... ...                 99.3 96.5 92.1 75.5 89.1   ...
Employees                       3,957 4,375 4,596 4,621 4,674    
Cost Per Employee USD per month ... ...                   2,979 3,037 2,566 2,927 2,768    
Cost Per Employee (Local Currency) CZK per month ... ...                   56,924 53,714 50,189 57,275 59,157    
Staff Cost (As % Of Total Cost) % ... ...                   8.76 10.3 9.48 12.2 13.8    
Revenues From Abroad (As % Of Total) % ... ... ... ... ... ... ... ... ... ... ... ... ... ... 5.95 9.01 ... ...
Life Insurance (As % Of Total Premium) % ... ...                   41.6 38.4 37.0 37.6 38.7    
Non-Life Insurance (As % Of Total Premium) % ... ...                   57.0 59.2 58.4 60.8 65.4    
Life Insurance (As % Of Total Reserves) % ... ...                   74.4 74.2 72.5 72.8 71.5    
Non-Life Insurance (As % Of Total Reserves) % ... ...                   24.9 24.6 25.6 27.2 28.5    
other data Unit 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016
other data                                    
Revenues From Abroad CZK mil ... ... ... ... ... ... ... ... ... ... ... ... ... ... 1,865 2,527 ... ...
Life Insurance Premium CZK mil ... ...                   15,656 13,205 12,462 11,774 10,844    
Non-Life Insurance Premium CZK mil ... ...                   21,452 20,381 19,678 19,038 18,347    
Technical Insurance Reserves CZK mil ... ...                   90,414 87,357 87,267 83,548 77,397    
Life Insurance Reserves CZK mil                       67,259 64,826 63,283 60,823 55,344    
Non-Life Insurance Reserves CZK mil                       22,535 21,456 22,357 22,725 22,053    
Number Of Insurance Policies mil                       8.77 8.39 8.37 8.45 8.44    

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Oct 2015
Statistical Dossier
Oct 2013
Statistical Dossier

CesPoj's Life Insurance Reserves fell 4.55% to CZK 52,206 mil in 2016

By Helgi Analytics - November 05, 2019

Ceska Pojistovna managed total insurance reserves worth CZK 104,822 mil at the end of 2016, up 10.9% when compared to the previous year. Historically, the firm’s technical reserves reached an all time high of CZK 104,822 mil in 2016 and an all time low of CZK 77,...

CesPoj's Equity rose 10.8% to CZK 38,386 mil in 2016

By Helgi Analytics - November 05, 2019

Ceska Pojistovna's total assets reached CZK 219,551 mil at the end of 2016, up 5.48% when compared to the previous year. Assets were funded mostly by under-writting provisions, which amounted to CZK 104,822 mil at the year-end, or 47.7% of assets. In addition, equity...

CesPoj's Life Insurance Premium fell 8.10% to CZK 9,153 mil in 2016

By Helgi Analytics - November 05, 2019

Ceska Pojistovna sold gross insurance premium worth CZK 28,098 mil in 2016, down 1.93% when compared to the previous year. This represented 108% of total firm's revenues. Life premium amounted to CZK 9,153 mil, or 32.6% of total gross premium written while non-life...

CesPoj's Net Written Premiums fell 2.76% to CZK 18,181 mil in 2016

By Helgi Analytics - November 05, 2019

Ceska Pojistovna generated total net revenues of CZK 25,936 mil in 2016, down 0.319% when compared to the previous year. Historically, the firm’s revenues reached an all time high of CZK 49,161 mil in 2006 and an all time low of CZK 25,936 mil in 2016. The avera...

CesPoj's Combined Ratio rose 0.367% to 64.6% in 2016

By Helgi Analytics - November 05, 2019

Ceska Pojistovna generated total net revenues of CZK 25,936 mil in 2016, up 0.367% when compared to the previous year. Some CZK 18,181 mil, or 70.1% of the revenues came from net written premium. Gross claims reached CZK 11,003 mil in 2016, so average claims ratio...

CesPoj's Intangible Assets fell 2.41% to CZK 2,312 mil in 2016

By Helgi Analytics - November 05, 2019

Ceska Pojistovna's total assets reached CZK 219,551 mil at the end of 2016, up 5.48% when compared to the previous year. Investments amounted to CZK 193,187 mil, or 88.0% of total assets while reinsurance assets reached CZK 9,732 mil at the end of 2016. ...

CesPoj's Acquisition Cost (As % Of Premiums) rose 8.12% to 10.1% in 2016

By Helgi Analytics - November 05, 2019

Ceska Pojistovna's cost to assets ratio reached 0.547% in 2016, up from 0.542% when compared to the previous year. Historically, the insurance’s costs reached an all time high of 3.46% in 2006 and an all time low of 0.542% in 2015. The average figure for the last...

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Česká pojišťovna is the largest Czech insurance company with a history dating back more than 185 years. Today's Česká pojišťovna was founded in 1992 and the company's shares were listed on the Prague Stock Exchange in 1993. The company's shares have been gradually bought by the PPF Group and the company was delisted from the Stock Exchange in 2005 in conjunction with a squeeze-out of minority shareholders. As a composite insurer, Česká pojišťovna provides a comprehensive range of services, encompassing life and non-life personal lines, insurance for small, mid-sized, and large customers covering industrial and business risks, and agriculture. Since 2008, Česká pojišťovna has been part of Generali Group. In January 2013, the PPF Group announced that it had agreed to sell its 49% stake in Generali PPF Holding B.V. to Assicurazioni Generali S.p.A.

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