Czech Republic health insurance market: 9.6% CAGR growth witnessed between 2008-12
Personal Accident and Health Insurance in the Czech Republic, Key Trends and Opportunities to 2017 - a new market research report on companiesandmarkets.com
PR-Inside.com: 2014-04-04 15:45:02
Despite the financial crisis in 2009, the Czech personal accident and health insurance segment recorded healthy growth during the review period, increasing at a CAGR of 9.6%. The segment was driven by the country´s increased health insurance product penetration, growing levels of disposable income and an improved awareness of the benefits of private health insurance.
The Czech insurance industry was the second-largest in Central and Eastern Europe in 2011, after Poland. The Czech Republic was affected by several natural disasters and the global economic crisis during the review period.
In 2012, health insurance accounted for 71.7% of the segment, while the personal accident and travel insurance categories accounted for considerably lower respective shares of 14.9% and 13.4%. The demand for private health insurance as a supplement to government-funded health insurance has been increasing on account of rising concerns about the fiscal sustainability of the country´s public health care systems.
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