On May 10, 2005, Kooperativa pojišťovna, a.s., our exclusive Swiss Life Network Partner in the Czech Republic since 1993, signed a purchase agreement for 100% of the shares of Česká podnikatelská pojišťovna, a.s.
Česká podnikatelská pojišťovna, a.s. is a composite insurer with a premium volume of some EUR 120 million, EUR 25 million of which is life insurance business. The company has a market share of approximately 3.3% and is No. 8 in the overall Czech insurance market. It has some 700 employees and 80 branches.
Kooperativa is the largest foreign subsidiary in the Wiener Städtische Group, and the second largest insurance company in the Czech Republic. With this acquisition, Kooperativa will extend its excellent market share from the current 21.7% to about 25%. Kooperativa currently employs over 3,500 employees, with written premiums amounting to about EUR 774 million in 2004.
Česká podnikatelská pojišťovna, a.s. will continue to operate independently in future under the same name and logo, and with its own strategy, as a member of the Kooperativa group of companies.
The transaction is subject to approval by the Czech anti-monopoly and cartel authorities, as well as the Ministry of Finance.
Kooperativa named ‘Insurance Company of the Year 2004’
The Swiss Life Network is delighted to congratulate Kooperativa on being named ‘Insurance Company of the Year 2004’ in a poll carried out by the Association of Czech Insurance Brokers (ACPM). This is the fourth time that Kooperativa has been awarded this title.
For more information, please visit www.koop.cz
Kooperativa is the largest foreign subsidiary in the Wiener Städtische Group, and the second largest insurance company in the Czech Republic. With this acquisition, Kooperativa will extend its excellent market share from the current 21.7% to about 25%. Kooperativa currently employs over 3,500 employees, with written premiums amounting to about EUR 774 million in 2004.
Česká podnikatelská pojišťovna, a.s. will continue to operate independently in future under the same name and logo, and with its own strategy, as a member of the Kooperativa group of companies.
The transaction is subject to approval by the Czech anti-monopoly and cartel authorities, as well as the Ministry of Finance.
Kooperativa named ‘Insurance Company of the Year 2004’
The Swiss Life Network is delighted to congratulate Kooperativa on being named ‘Insurance Company of the Year 2004’ in a poll carried out by the Association of Czech Insurance Brokers (ACPM). This is the fourth time that Kooperativa has been awarded this title.
For more information, please visit www.koop.cz