Ceska Pojistovna increases profit
Article Abstract:
Ceska pojistovna (CP) (Prague, Czech Republic), the largest Czech insurance firm, saw a net profit of more than CEK 1.5 bil in 2000, up 41% from 1999. Besides, the firm reported a single extra profit of CEK 2.5 bil due to legislative changes in tax and accounting rules after 2000. CP had a 40% market share in 2000, down 13% from 1999. The drop was caused mainly by the cancellation of CP's monopoly for car no-fault insurance. The firm wants to increase the share to 50% shortly. It arranged contracts on premiums worth CEK 26.9 bil in 2000 compared to CEK 33.1 bil in 1999. Its prescribed premiums in the field of non-life insurance totalled CEK 17.5 bil in 2000 compared to CEK 24.6 bil in 1999. Its prescribed premiums in the field of life insurance totalled CEK 9.4 bil in 2000, up 10% from 1999. CP paid non-life insurance compensations worth CEK 9.2 bil and life insurance compensations worth CEK 7.4 bil in 2000.
Publication Name: Mlada Fronta Dnes
Subject: Business
ISSN: 1210-1168
Year: 2001
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Kooperativa doubles its profit
Article Abstract:
Kooperativa, pojistovna (KP) (Prague, Czech Republic), insurance company, saw an after-tax profit of CEK 218.3 mil in 2000, according to audited results. In 1999 the company generated a net profit of CEK 114.6 mil. KP, which has a stock of CEK 1 bil and more than 2,500 employees, is the second largest domestic insurance company and controls a 18% share on the domestic insurance market.
Publication Name: Mlada Fronta Dnes
Subject: Business
ISSN: 1210-1168
Year: 2001
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Winterthur Pension Fund lowers profit
Article Abstract:
Winterthur Pension Fund (WPF) (Prague, Czech Republic), pension fund, saw a profit of roughly CEK 54 mil in 2000 compared to CEK 110 mil in 1999. The valuation of the means of WPF's members dropped to about 4% in 2000 from 6.5% in 1999. In late 2000 WPF ranked sixth among the domestic pension funds, having 190,000 clients.
Publication Name: Mlada Fronta Dnes
Subject: Business
ISSN: 1210-1168
Year: 2001
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