Kooperativa pojistovna

Kooperativa's net profit fell 36.5% to CZK 1,790 mil in 2016

By Helgi Analytics - February 23, 2018

Kooperativa pojistovna made a net profit of CZK 1,790 mil under revenues of CZK 28,088 mil in 2016, down 36.5% and up 4.46% ...

Kooperativa's employees rose 0.191% to 3,679 in 2016

By Helgi Analytics - February 23, 2018

Kooperativa pojistovna employed 3,679 persons in 2016, up 0.191% when compared to the previous year. Historically, the firm's wo...

Kooperativa's Acquisition Cost (As % Of Premiums) rose 46.6% to 13.8% in 2016

By Helgi Analytics - February 7, 2018

Kooperativa pojistovna's cost to assets ratio reached 2.42% in 2016, up from 2.09% when compared to the previous year. Historically...

Profit Statement 2014 2015 2016
Gross Written Premiums CZK mil 31,738 31,447 32,331
Net Written Premiums CZK mil 26,121 25,654 26,053
Total Revenues CZK mil 28,827 26,889 28,088
Expenses For Claims & Benefits CZK mil 17,036 13,905 13,468
Total Cost CZK mil 25,756 23,561 25,945
Pre-Tax Profit CZK mil 3,072 3,328 2,143
Net Profit CZK mil 2,665 2,818 1,790
Balance Sheet 2014 2015 2016
Total Assets CZK mil 69,386 70,064 70,035
Intangible Assets CZK mil 99.2 106 120
Investments CZK mil 55,900 57,456 54,692
Reinsurance Assets CZK mil 3,556 3,762 4,220
Shareholders' Equity CZK mil 13,795 13,595 12,479
Liabilities CZK mil 55,591 56,469 57,556
Underwritting Provisions CZK mil 43,104 43,543 44,412
Ratios 2014 2015 2016
ROE % 19.0 20.6 13.7
ROA % 3.88 4.04 2.55
Net Margin % 9.24 10.5 6.37
Investment Yield % 2.46 1.65 1.61
Combined Ratio % 67.3 57.4 63.5
Claims Ratio % 57.6 48.0 49.7
Acquisition Cost (As % Of Premiums) % 9.65 9.45 13.8
Equity (As % Of Assets) % 19.9 19.4 17.8
Growth Rates 2014 2015 2016
Gross Written Premiums Growth % 1.33 -0.915 2.81
Pre-Tax Profit Growth % -25.1 8.36 -35.6
Net Profit Growth % -23.0 5.75 -36.5
Investments Growth % 0.234 2.78 -4.81
Reinsurance Assets Growth % 5.36 5.77 12.2
Total Asset Growth % 2.09 0.976 -0.040
Shareholders' Equity Growth % -3.63 -1.46 -8.21
Underwritting Provisions Growth % 1.25 1.02 2.00

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summary Unit 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016
income statement                                  
Gross Written Premiums CZK mil ...                   30,895 30,503 30,617 31,320 31,738    
Total Revenues CZK mil ...                   30,471 28,999 29,847 29,416 28,827    
Total Cost CZK mil ...                   26,399 25,679 25,553 25,317 25,756    
Net Profit CZK mil ...                   3,477 2,790 3,246 3,459 2,665    
balance sheet                                  
Cash & Cash Equivalents CZK mil ...                   105 121 1,643 962 1,689    
Investments CZK mil ...                   53,793 53,866 54,923 55,769 55,900    
Reinsurance Assets CZK mil ...                   1,948 2,181 2,624 3,375 3,556    
Total Assets CZK mil ...                   61,568 62,668 65,904 67,966 69,386    
Shareholders' Equity CZK mil ...                   13,531 13,019 13,914 14,315 13,795    
Liabilities CZK mil ...                   48,036 49,649 51,990 53,651 55,591    
Underwritting Provisions CZK mil ...                   40,752 41,583 42,592 42,572 43,104    
ratios                                  
ROE % ... ...                 27.1 21.0 24.1 24.5 19.0    
ROA % ...                   5.82 4.49 5.05 5.17 3.88    
Net Margin % ...                   11.4 9.62 10.9 11.8 9.24    
Investment Yield % ...                   5.23 4.37 6.32 2.80 2.46    
Combined Ratio % ...                   76.1 68.0 67.6 71.9 67.3    
Claims Ratio % ...                   63.1 58.2 53.5 62.8 57.6    
Cost Ratio % ...                   20.8 20.1 21.7 21.9 21.6    
Acquisition Cost (As % Of Premiums) % ...                   13.0 9.72 14.1 9.03 9.65    
Administrative Cost (As % Of Assets) % ...                   2.60 3.48 1.86 4.18 3.74    
Equity (As % Of Assets) % ...                   22.0 20.8 21.1 21.1 19.9    
Life Insurance (As % Of Total Premium) % ... ... ... ... ...           27.0 28.7 29.8 31.6 31.9    
Non-Life Insurance (As % Of Total Premium) % ... ... ... ... ...           73.0 71.3 70.2 68.4 68.1    
income statement Unit 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016
income statement                                  
Gross Written Premiums CZK mil ...                   30,895 30,503 30,617 31,320 31,738    
Premiums Ceded To Reinsurers CZK mil ...                   4,186 5,028 5,247 5,555 5,617    
Net Written Premiums CZK mil ...                   26,708 25,475 25,369 25,765 26,121    
Financial Result CZK mil ...                   2,813 2,355 3,470 1,560 1,377    
Other Income CZK mil ...                   950 1,170 1,008 2,091 1,330    
Total Revenues CZK mil ...                   30,471 28,999 29,847 29,416 28,827    
Expenses For Claims & Benefits CZK mil ...                   18,276 15,519 14,608 16,387 17,036    
Of Which Reinsurers' Share CZK mil ...                   2,859 2,248 1,776 3,290 1,253    
Acquisition Cost CZK mil ...                   4,002 2,964 4,305 2,829 3,062    
Administrative Cost CZK mil ...                   1,554 2,164 1,193 2,800 2,568    
Other Cost CZK mil ...                   2,566 5,032 5,448 582 428    
Total Cost CZK mil ...                   26,399 25,679 25,553 25,317 25,756    
Other And Extra Cost CZK mil ...                   -5.73 34.2 409 0 0    
Pre-Tax Profit CZK mil ...                   4,078 3,286 3,885 4,099 3,072    
Tax CZK mil ...                   601 496 639 641 407    
Minorities CZK mil ...                   0 0 0 0 0    
Net Profit CZK mil ...                   3,477 2,790 3,246 3,459 2,665    
growth rates                                  
Gross Written Premiums Growth % ... ...                 -0.328 -1.27 0.374 2.30 1.33    
Net Written Premiums Growth % ... ...                 -2.94 -4.62 -0.414 1.56 1.38    
Total Revenues Growth % ... ...                 -1.74 -4.83 2.92 -1.44 -2.00    
Gross Claims Growth % ... ...                 15.4 -8.91 -7.79 20.1 -7.06    
Acquisition Cost Growth % ... ...                 13.0 -25.9 45.2 -34.3 8.23    
Administrative Cost Growth % ... ...                 -43.0 39.3 -44.9 135 -8.32    
Operating Cost Growth % ... ...                 -5.10 -2.72 -0.494 -0.923 1.73    
Pre-Tax Profit Growth % ... ...                 34.8 -19.4 18.2 5.51 -25.1    
Net Profit Growth % ... ...                 44.0 -19.8 16.4 6.53 -23.0    
market share                                  
Market Share in Total Insurance Premium % ...                   19.8 19.7 19.9 20.8 20.8    
Market Share in Life Insurance Premium % ... ... ... ... ...           11.6 12.2 12.6 13.8 ... ... ...
Market Share in Non-Life Insurance Premium % ... ... ... ... ...           26.7 26.2 26.4 25.3 ... ... ...
Market Share in Net Profit % ...                   16.3 28.6 26.9 30.7 ... ... ...
balance sheet Unit 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016
balance sheet                                  
Intangible Assets CZK mil ...                   60.0 54.8 66.4 76.3 99.2    
Investments CZK mil ...                   53,793 53,866 54,923 55,769 55,900    
Reinsurance Assets CZK mil ...                   1,948 2,181 2,624 3,375 3,556    
Receivables CZK mil ...                   1,352 1,453 1,388 2,254 2,024    
Cash & Cash Equivalents CZK mil ...                   105 121 1,643 962 1,689    
Other Assets CZK mil ...                   4,309 4,993 5,260 5,529 6,118    
Total Assets CZK mil ...                   61,568 62,668 65,904 67,966 69,386    
Equity CZK mil ...                   13,531 13,019 13,914 14,315 13,795    
Of Which Minority Interest CZK mil ...                   0 0 0 0 0    
Subordinated Liabilities CZK mil ...                   551 557 557 557 557    
Underwritting Provisions CZK mil ...                   40,752 41,583 42,592 42,572 43,104    
Other Provisions CZK mil ...                   118 156 253 131 85.0    
Other Liabilities CZK mil ...                   6,615 7,352 8,589 10,391 11,845    
Liabilities CZK mil ...                   48,036 49,649 51,990 53,651 55,591    
investment portfolio                                  
Real Estate CZK mil ...                   1,957 1,741 1,724 1,743 1,808    
Cash And Deposits CZK mil ...                   46,904 46,214 46,100 47,010 47,513    
Loans CZK mil ...                   0 0 0 0 0    
Other CZK mil ...                   4,933 5,910 7,098 7,016 6,579    
Total Portfolio CZK mil ...                   53,793 53,866 54,923 55,769 55,900    
growth rates                                  
Investments Growth % ... ...                 4.26 0.134 1.96 1.54 0.234    
Reinsurance Assets Growth % ... ... ...               43.7 11.9 20.3 28.7 5.36    
Total Asset Growth % ... ...                 6.26 1.79 5.16 3.13 2.09    
Shareholders' Equity Growth % ... ...                 11.6 -3.79 6.87 2.88 -3.63    
Underwritting Provisions Growth % ... ...                 1.04 2.04 2.42 -0.046 1.25    
market share                                  
Market Share in Assets % ...                   14.3 14.6 14.1 15.0 ... ... ...
Market Share in Net Profit % ...                   16.3 28.6 26.9 30.7 ... ... ...
Market Share in Technical Reserves % ...                   13.1 13.0 11.3 11.6 ... ... ...
ratios Unit 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016
ratios                                  
ROE % ... ...                 27.1 21.0 24.1 24.5 19.0    
ROA % ...                   5.82 4.49 5.05 5.17 3.88    
Net Margin % ...                   11.4 9.62 10.9 11.8 9.24    
Investment Yield % ...                   5.23 4.37 6.32 2.80 2.46    
Combined Ratio % ...                   76.1 68.0 67.6 71.9 67.3    
Claims Ratio % ...                   63.1 58.2 53.5 62.8 57.6    
Cost Ratio % ...                   20.8 20.1 21.7 21.9 21.6    
Acquisition Cost (As % Of Premiums Written) % ...                   13.0 9.72 14.1 9.03 9.65    
Administrative Cost (As % Of Assets) % ...                   2.60 3.48 1.86 4.18 3.74    
Equity (As % Of Assets) % ...                   22.0 20.8 21.1 21.1 19.9    
Employees                     3,754 3,775 3,838 3,809 3,715    
Cost Per Employee USD per month ...                   3,116 3,259 3,115 3,040 2,794    
Cost Per Employee (Local Currency) CZK per month ...                   59,541 57,633 60,936 59,470 59,716    
Staff Cost (As % Of Total Cost) % ...                   10.2 10.2 11.0 10.7 10.3    
Life Insurance (As % Of Total Premium) % ... ... ... ... ...           27.0 28.7 29.8 31.6 31.9    
Non-Life Insurance (As % Of Total Premium) % ... ... ... ... ...           73.0 71.3 70.2 68.4 68.1    
other data Unit 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016
other data                                  
Life Insurance Premium CZK mil ... ... ... ... ...           8,357 8,761 9,110 9,884 10,138    
Non-Life Insurance Premium CZK mil ... ... ... ... ...           22,538 21,742 21,506 21,436 21,600    
Technical Insurance Reserves CZK mil ...                   40,752 41,583 42,592 42,572 43,104    
Number Of Insurance Policies mil                     3.79 3.84 3.80 3.85 3.83    
Premium Per Insurance Policy CZK ...                   8,150 7,934 8,051 8,129 8,287    

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Kooperativa's Real Estate fell 13.8% to CZK 1,546 mil in 2016

By Helgi Analytics - February 23, 2018

Kooperativa pojistovna's total investments reached CZK 54,692 mil at the end of 2016, down 4.81% when compared to the previous year. Financial investments formed 82.3% of total investment portfolio at the end of 2016. Loans represented 0.000% and real ...

Kooperativa's Net Written Premiums rose 1.56% to CZK 26,053 mil in 2016

By Helgi Analytics - February 23, 2018

Kooperativa pojistovna generated total net revenues of CZK 28,088 mil in 2016, up 4.46% when compared to the previous year. Historically, the firm’s revenues reached an all time high of CZK 31,009 mil in 2009 and an all time low of CZK 10,661 mil in 2001. The av...

Kooperativa's Life Insurance Premium fell 4.44% to CZK 8,658 mil in 2016

By Helgi Analytics - February 23, 2018

Kooperativa pojistovna sold gross insurance premium worth CZK 32,331 mil in 2016, up 2.81% when compared to the previous year. This represented 115% of total firm's revenues. Life premium amounted to CZK 8,658 mil, or 26.8% of total gross premium written while non-...

Kooperativa's Combined Ratio rose 10.7% to 63.5% in 2016

By Helgi Analytics - February 23, 2018

Kooperativa pojistovna generated total net revenues of CZK 28,088 mil in 2016, up 10.7% when compared to the previous year. Some CZK 26,053 mil, or 92.8% of the revenues came from net written premium. Gross claims reached CZK 13,468 mil in 2016, so average claims ...

Kooperativa's Intangible Assets rose 13.4% to CZK 120 mil in 2016

By Helgi Analytics - February 23, 2018

Kooperativa pojistovna's total assets reached CZK 70,035 mil at the end of 2016, down 0.04% when compared to the previous year. Investments amounted to CZK 54,692 mil, or 78.1% of total assets while reinsurance assets reached CZK 4,220 mil at the end of 2016. ...

Kooperativa's Equity fell 8.21% to CZK 12,479 mil in 2016

By Helgi Analytics - February 23, 2018

Kooperativa pojistovna's total assets reached CZK 70,035 mil at the end of 2016, down 0.040% when compared to the previous year. Assets were funded mostly by under-writting provisions, which amounted to CZK 44,412 mil at the year-end, or 63.4% of assets. In addition,...

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Kooperativa is the second largest insurance company in the Czech Republic with a 20% market share. The Company offers a full range of services and all standard types of insurance for individuals as well as company clients from small businesses to large industrial companies. Kooperativa is part of the Vienna Insurance Group (VIG), one of the leading insurance groups in Austria and Central and Eastern Europe. VIG is represented by approximately 50 insurance companies in 24 countries ranging from Albania to Turkey. It earns more than 50% of its total Group premiums in the CEE region with the heaviest contribution coming from the Czech Republic, Slovakia, Poland and Romania. VIG also benefits from a strategic partnership with Erste Bank, Austria's second largest bank

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