CZECH REPUBLIC AND AND INSURANCE SECTOR Prague 21.9.2012 2012
CZECH REPUBLIC - INTRO RODUCTION • Capital Prague (1 272 690) • Area 78 867 km² • Total population 10 507 566 • Life Expectancy 77,5 years • Education - University (14,6%), High school graduation (33,7%), High school (35,2%), Elementary school (16,3%) 2
CZECH REPUBLIC Indicators 2006 2007 2008 2009 2010 2011 Inflation rate (%) 2,5 2,8 6,3 1 1,5 1,9 Unemployment rate (%) 7,7 6 6 9,2 9,6 8,6 GDP (% change) 7 5,7 3,1 -4,7 2,7 1,7 State debt (public) / GDP 23,9 24,4 26 31,5 35,6 39,4 (%) State budget balance -97,3 -66,4 -19,4 -192,4 -156,4 -142,8 (CZK bn) State (public) debt 802 892 999 1.178 1.344 1.499 (CZK bn) 3
MAC ACRO ROECONOMIC INDICATORS 1 11 9 7 5 3 1 -1 -3 -5 2006 2007 2008 2009 2010 2011 Inflation rate (%) 2.5 2.8 6.3 1 1.5 1.9 Unemployment rate (%) 7.7 6 6 9.2 9.6 8.6 GDP (%, y/y, real terms) 7.0 5.7 3.1 -4.7 2.7 1.7 4
MAC ACRO ROECONOMIC INDICATORS 2 10 9 8.8 8 8 7.8 7.2 7 6.6 6.3 6.3 6 5.8 5 4.5 5 4 3 3.3 3 2.1 2.1 2.6 2.2 2 1.4 1.4 1.6 1 1.2 0.6 0 -0.1 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 -1 Growth of Harmonized Index of Consumer Prices (HICP) Average gross monthly wage 5
MAC ACRO ROECONOMIC INDICATORS 3 45.0 0 2006 2007 2008 2009 2010 2011 -19.4 40.0 39.4 -50 35.0 35.6 30.0 -66.4 31.5 -100 25.0 -97.3 26.0 24.4 23.9 -142.8 20.0 -150 15.0 -156.4 10.0 -200 -192.4 5.0 0.0 2006 2007 2008 2009 2010 2011 -250 State debt / GDP (%) State budget balance (CZK bn) 6
MAC ACRO ROECONOMIC INDICATORS 4 100.0 100 50.0 50 39.4 35.6 31.5 26.0 24.4 23.9 0.0 0 2006 2007 2008 2009 2010 2011 -19.4 CZK bn -50.0 -50 % -66.4 -100.0 -100 -97.3 -150.0 -150 -142.8 -156.4 -200.0 -200 -192.4 -250.0 -250 State debt / GDP (%) State budget balance (CZK bn) 7
PUBLIC DEBT DEBT % OF GDP 180 160 140 120 100 80 60 40 20 0 2007 2008 2009 2010 2011 Czech Republic Germany France Great Britain Spain Greece Poland 8
STATE BUDGET BA BALANCE / DEBT DEBT 1600 1499.4 1344.1 1400 1178.2 1200 999.5 1000 892.3 802.5 800 600 400 200 0 -19.4 -66.4 -97.3 -200 -156.4 -142.8 -192.4 -400 2006 2007 2008 2009 2010 2011 State budget balance (CZK bn) State debt (CZK bn) 9
WAG AGES AND PENSIONS 50,000 45,000 40,000 35,000 30,000 25,000 20,000 15,000 10,000 5,000 0 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 Average monthly gross wage per employee Average monthly gross wage per employee in Financial intermediation Average monthly amount of pension 10
PENSION IN % WAG AGE 45.0 44.0 44.0 43.5 43.4 43.0 42.4 42.0 42.0 41.6 41.2 41.1 40.8 41.0 40.6 40.2 40.6 40.0 39.0 38.0 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 Average pension vs Average gross wage (pension in % wage) 11
7 7 MOST IMPORTANT COMPANIES Company Turnover 2011 (in CZK) Branch ŠKODA AUTO, a.s. 252 562 000 Automotive ČEZ , a.s. 209 761 000 Energy RWE Transgas, a.s. 135 984 147 Energy AGROFERT HOLDING, 117 606 814 Agriculture a.s. FOXCONN CZ, s.r.o. 102 327 509 Electronics UNIPETROL , a.s. 97 427 586 Petrochemicals MORAVIA STEEL 65 972 567 Industry 12
5 MOST IMPORTANT EMPLO LOYERS 40,000 35,903 35,000 32,627 30,000 24,714 24,224 25,000 20,000 13,693 15,000 10,000 5,000 0 Česká pošta, s.p. ČEZ, a.s. ŠKODA AUTO, a.s. AGROFERT OKD, a.s. HOLDING, a.s. 13
CAPITAL APPRECIATION BY STOCK EXCHANGE 18,000 17,226 16,111 16,000 15,308 14,000 12,463 12,218 13,265 11,578 12,000 11,489 10,546 10,718 10,229 10,783 Index value 10,000 10,428 8,455 8,067 8,776 8,860 8,000 6,597 6,914 6,000 5,957 5,898 4,256 5,408 4,810 4,000 2,000 858 1,815 1,589 1,032 911 1,473 1,225 1,117 0 2004 2005 2006 2007 2008 2009 2010 2011 PX DAX Dow Jones Nikkei 225 14
CZECH FINANCIAL SECTOR 15
BA BANKS, INSURANCE AND BRO ROKERS 2009 2010 2011 Banks 39 41 49 Insurance companies 53 53 54 Insurance brokers 91 064 109 914 132 578 16
5 LARG 5 RGEST BA BANKS IN CZECH REPUBLIC 5% 8% ČSOB, a.s. 25% Česká spořitelna, a.s. 81% Komerční banka, a.s. 20% UniCredit Bank, a.s. Raiffeisenbank, a.s. 23% 17
5 5 LARG RGEST INSURANCE IN CZECH REPUBLIC 8.3% Česká pojišťovna, a.s. 4.8% Kooperativa pojišťovna, 23.5% a.s. 62,4% Allianz pojišťovna, a.s. 7.8% Komerční pojišťovna, a.s. ČSOB Pojišťovna, a.s. 18.0% 18
ASSETS ASSETS (CZK BILLIONS) 5,000.0 4,476.5 4,500.0 4,192.3 4,094.8 4,045.5 4,000.0 3,476.6 3,500.0 3,000.0 2,500.0 2,000.0 1,500.0 1,000.0 345.1 396.9 436.3 369.2 370.0 500.0 0.0 2007 2008 2009 2010 2011 Banks Insurance 19
PREMIUMS WRITTEN (CZK MILLIONS) 180,000 160,000 155,997 155080 140,000 144,171 139,841 132,896 120,000 100,000 83,962 84,233 82,940 83070 78,768 80,000 71,765 72010 60,000 60,209 56,901 54,128 40,000 20,000 0 2007 2008 2009 2010 2011 Insurance business Life-insurance business Non-life insurance business 20
THE RATIO OF PREMIUMS (%) 100% 90% 80% 53.6% 54.0% 70% 59.3% 59.0% 59.0% 60% 50% 40% 30% 46.4% 46.0% 40.7% 41.0% 41.0% 20% 10% 0% 2007 2008 2009 2010 2011 Life-insurance business Non-life insurance business 21
CZECH REPUBLIC AND EU EU (%) Czech Republic EU 100.0 100 90.0 90 34.8 38.0 38.3 39.0 80.0 80 54.0 59.3 59.0 59.0 70.0 70 60.0 60 50.0 50 40.0 40 65.2 62.0 61.7 61.0 30.0 30 46.0 40.7 41.0 41.0 20.0 20 10.0 10 0.0 0 2007 2008 2009 2010 2007 2008 2009 2010 Share of Non-Life insurance % in Czech Rep. Share of Non-Life insurance % in EU Share of Life insurance % in Czech Rep. Share of life insurance % in EU 22
HEALTH INSURANCE SECTOR 23
HEALTH INSURANCE COMPANIES In the Czech Republic are 8 health insurance 60,1 % - Všeobecná zdravotní pojišťovna ( VZP ) 5,8% - Vojenská zdravotní pojišťovna - Česká průmyslová pojišťovna 7% 6,7% - Oborová zdravotní pojišťovna zaměstnanců bank, pojišťoven a stavebnictví 1,3% - Zaměstnanecká pojišťovna Škoda 11,1% - Zdravotní pojišťovna ministerstva vnitra ČR 4% - Revírní bratrská pokladna, zdravotní pojišťovna 4,1% - Zdravotní pojišťovna METAL -ALIANCE 24
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