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Insurance

Czech Republic

Insurers, reinsurers, and brokers face an increasingly unpredictable world, not least because of tougher capital and risk requirements impacting on your business. So you can be certain to meet these challenges successfully, you need advisors with specialist knowledge of your sector and a detailed understanding of the evolving regulatory framework.

CMS has helped major insurers establish and expand operations in Central and Eastern Europe. We are the market leader in M&A in the sector, offer dedicated regulatory expertise and have extensive experience from distribution of insurance products to defence of class action claims.

With over 100 insurance lawyers over 40 countries, we can protect your commercial interests in your home market and across borders. We provide advice based on strong local knowledge delivered on a Europe-wide basis by expert lawyers, many of whom have worked in the sector or for regulatory authorities.

We assist clients on the most complex transactional, advisory and contentious matters. A multi-disciplinary team advises on strategic as well as operational matters, liability and dispute resolution, policy drafting, coverage, regulatory issues, M&A, capital raising and restructurings, HR, tax, real estate and commercial issues.

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High­lights of our ex­per­i­ence in In­sur­ance in Czech Re­pub­lic
Met­Life on the ac­quis­i­tions of Aviva Czech Life, Aviva Hun­gary Life, Aviva Ro­mania Life and Aviva Ro­mania Pen­sions from UK in­surer Aviva.QBE on the ac­quis­i­tion of Li­feco, a Cent­ral European in­sur­ance agency group fo­cused on in­sur­ance products for the auto­mot­ive in­dustry.Triglav, the Slov­e­ni­an in­sur­ance com­pany, on the sale of its Czech sub­si­di­ary Triglav pojišťovna, a.s.Ex­port­ní garanční a pojišťo­vací společnost (Ex­port Guar­an­tee and In­sur­ance Cor­por­a­tion) on the sale of a 66% share­hold­ing of Komer­ční úver­ová pojišťovna EGAP.MARSH on the ac­quis­i­tion and the sub­sequent in­creases of a stake in IN­SIA, the biggest in­sur­ance broker in Czech Re­pub­lic and Slov­akia.A ma­jor in­ter­na­tion­al in­sur­ance com­pany on es­tab­lish­ment of an in­sur­ance com­pany in the Czech Re­pub­lic.An in­ter­na­tion­al life and non-life in­sur­ance com­pany on ad­min­is­trat­ive pro­ceed­ings in front of the Czech Na­tion­al Bank.An in­ter­na­tion­al non-life in­surer on a dis­tri­bu­tion agree­ment in re­la­tion to an ex­ten­ded war­ranty product in the Czech Re­pub­lic.Please down­load the print ver­sion be­low.

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08/06/2015
CMS ad­vises Triglav in­sur­ance group on sale of Triglav pojišťovna, a.s.
CMS Prague has ad­vised the Slov­e­ni­an in­sur­ance com­pany Triglav INT, which is fully owned by Za­v­aroval­nica Triglav, on the sale of its Czech sub­si­di­ary Triglav pojišťovna, a.s. to VIGO Fin­ance, part of VIGO In­vest­ments Group.
14 March 2018
CMS Ex­pert Guide to In­sur­ance
This leg­al doc­u­ment is com­par­ing and con­trast­ing ten key in­sur­ance is­sues across some of the jur­is­dic­tions in which we op­er­ate.
16 March 2020
European in­sur­ance re­cov­ery and res­ol­u­tion frame­work now an in­ev­it­ab­il­ity
For a long time, the in­sur­ance in­dustry has suc­cess­fully ral­lied against at­tempts to in­tro­duce a re­cov­ery and res­ol­u­tion re­gime sim­il­ar to the Bank Re­cov­ery and Res­ol­u­tion Dir­ect­ive (BRRD). However, EIOPA’s...
30/06/2010
10 Things Every In­surer Should Know about West­ern Europe
28 February 2020
UK/EU fin­an­cial ser­vices after Brexit -cross bor­der reg­u­la­tion after the...
On 25 Feb­ru­ary, the Coun­cil of the EU pub­lished the fi­nal ver­sion of its ne­go­ti­at­ing man­date and, two days later, the UK gov­ern­ment set out its ap­proach to our fu­ture re­la­tion­ship with the EU. Ne­go­ti­ations...
24 February 2020
In­sur­ance cloud out­sourcing: EIOPA pub­lishes new Guidelines 
EIOPA has pub­lished the fi­nal text of its Guidelines on out­sourcing to cloud ser­vice pro­viders (the “Guidelines”), fol­low­ing last year’s con­sulta­tion. The Guidelines provide guid­ance to in­surers...
28 January 2020
Avi­ation claims: Po­ten­tial chal­lenge to concept of ac­ci­dent in the Montreal...
A re­cent Court of Justice of the European Uni­on (CJEU) de­cision in Decem­ber 2019 may give scope to chal­lenge the defin­i­tion and concept of the term “ac­ci­dent” with­in Chapter III - Art­icle 17 (1) of...
17 January 2020
CJEU rules in­surers li­able for not in­form­ing life in­sur­ance policy hold­ers...
The European Court of Justice (CJEU) was re­cently asked to rule on the EU­'s Solvency II Dir­ect­ive (and all earli­er le­gis­la­tions reg­u­lat­ing life in­sur­ance) re­gard­ing the can­cel­la­tion rights of in­sur­ance...
23 December 2019
A new EU op­er­a­tion­al re­si­li­ence frame­work for cy­ber se­cur­ity?
Our re­cent Law-Now art­icle dis­cussed the FCA, PRA and Bank of Eng­land con­sulta­tions on im­prov­ing fin­an­cial sta­bil­ity in the UK mar­kets through op­er­a­tion­al re­si­li­ence. Con­tinu­ing this theme, but now from...
11 December 2019
De­mer­ger of a busi­ness and the stat­utory guar­an­tee
When op­tim­iz­ing your busi­ness struc­ture, you may con­sider de­mer­ging cer­tain (non-core) activ­it­ies. While this may im­prove your bal­ance sheet and fin­an­cial per­form­ance of your (core) busi­ness, it is im­port­ant...
11 December 2019
Czech leg­al loop­hole places in­solv­ent dir­ect­ors at risk
In the Czech Re­pub­lic, en­force­ment of claims against dir­ect­ors or oth­er cor­por­ate bod­ies by way of a form­al pro­ced­ure such as ex­e­cu­tion or dis­charge of debts is rarely dis­cussed, but ma­jor dif­fer­ences...
11 December 2019
Should dir­ect­ors be loy­al to their com­pan­ies 24/7? Czech law and the Su­preme...
Ima­gine a com­pany be­ing party to a lease con­tract with its dir­ect­or and the dir­ect­or (as a lessor) not be­ing paid rent by the com­pany as a less­ee. Then ima­gine this dir­ect­or with­draw­ing from the con­tract...