Slavia insurance company has its roots very closely associated with the origins of the insurance business in Bohemia. It follows the successful tradition of one of the oldest and most important financial institutions – mutual funds, capital and pension insuring bank Slavia. The foundations of the insurance company were laid as far back as 1868, under the rule of the Austro-Hungarian monarchy.
The emergence of a purely Czech insurance institution was at the time a significant action in the economic and political fields. Among the most important personalities of Slavia bank was its creator and founder, lawyer F. L. Chleborád, who, for his idea, won the “Father of the Nation” – František Palacký, as well as other outstanding public figures of the Czech nation.
The symbolic name Slavia, personifying the ideal of Slavic solidarity and togetherness, granted the bank access to all the repressed countries of the former monarchy. From humble beginnings, the insurance company became, over the coming decades, a recognised company with international scope of activities.
The growth of Slavia’s trade was especially intensive in the years 1924 – 1929, when the insurance company had holdings in a total of eleven insurance institutions, of which eight were in Czechoslovakia, and three overseas. The most important founding act overseas was Slavia company’s holding in Lion insurance company in New York, USA, in March 1928.
The insurance company’s activities were forcibly stopped after its nationalization in 1945, when, for several decades, the natural development of the entire insurance industry in the former Czechoslovakia was stopped. This period lasted until the nineties (of the last century) when competing insurance institutions were once again allowed to carry out activities, and Česká Pojišťovna’s monopoly came to an end.
This period also saw the emergence of Slavia insurance company based in Prague, which set as its main objective to follow on the successes of its illustrious predecessor, namely high innovation, flexibility and quality insurance products.
A significant milestone in the life of the insurance company is represented by its entry into the powerful financial group SPGroup, of which it became part in 2006. The new owner of Capital Management Company a.s. – a member of the SPGroup group, is a company with long-standing and very successful operations in the insurance market in the Czech Republic. An example of its activities is the development of one of the leading insurance companies in the Czech Republic – Czech Business Insurance a.s. From this time, there has been massive development of Slavia insurance company, and it has consolidated its position in the insurance market.
The new owner’s strategy is the continuation of the successful tradition, and fast reactions to the specific needs of its clients and business partners, as well as to new opportunities in the market. The main creed of the insurance company, therefore, continues to be its predecessor’s legacy:
“……..our institution, throughout its existence, does not follow in the footsteps of other insurance institutions, but instead we strive, in all areas, to bring the needs of the institution into line with the needs of the current times……………..”
(Extract from the 1880 annual report of Slavia)