kontinuita - Komunálna Poisťovňa

REPORT OF THE BOARD
OF DIRECTORS ON ECONOMIC
RESULTS, BUSINESS ACTIVITIES
AND COMPANY´S ASSETS
AS OF DECEMBER 31, 2008
Communication and advertising
Communication during 2008 was in line with the established
communication approach, goal of which is to
communicate the company as a life insurance specialist.
In April we have conducted campaign in print media to
support the launch of new product called Secured future
MAX, which is combining the advantages of capital,
accident and investment life insurance and it is a
combination of the best products from KONTINUITA
portfolio – Family Garant, Kontiinvest, Zlatá Ochrana,
Penzia Garant a OPÚ MAX. Secured future MAX was
presented as a product with 4-fold guarantee of comprehensive
insurance and attractive appreciation of investments
in the future.
In October 2008 KONTINUITA launched a new investment
life insurance product Global Kontiinvest, combining
advantages of life insurance and saving in the
form of investment in funds managed by international
group HSBC.
In addition to the main product benefits the campaigns
were highlighting also the possibility to invest in funds
managed by top and world-renowned partners such as
LFC Rotschild and Fidelity International and HSBC Global
Asset Management.
In our communication we present the company not
only as the life insurance specialist and a reliable partner,
but also as a member of a strong international
VIENNA INSURANCE GROUP.
For employees and regional co-workers KONTINUITA
poisťovňa, a. s. Vienna Insurance Group publishes
quarterly information magazine “Žijeme s Vami” (We
live with you).
Claims
Total insurance claims payouts as of 31.12.2008, in
comparison with the same period previous year, has
increased from 1,573,000,000 Sk to 2,031,156,000 Sk
(by 458,156,000 Sk), i.e., by 29.1%.
Total life insurance claims payouts have increased
from 1,569,344,000 Sk to 2,027,054,000 Sk (by
457,710,000 Sk), i.e., by 29.2%, as well as in accident
insurance from 3,656,000 Sk to 4,102,000 Sk
(by 446,000 Sk), i.e., by 12.2 %.
Reinsurance
The company reinsurance programme in 2008 consisted
of the following reinsurance contracts:
Münchener Rückversicherungs-Gesellschaft - death
coverage reinsurance for policies with inception date
before 31.12.2003. This contract is used also to continue
coverage of older insurance policies until their natural
expiry.
Münchener Rückversicherungs-Gesellschaft - reinsurance
of accident insurance and accident riders. This
contract is used only to service out claims from previous
years. The contract was replaced by reinsurance
contract with Wiener Städtische:
Wiener Städtische Allgemeine Versicherung Aktiengesellschaft
- death coverage reinsurance for policies
with inception date after 1.1.2004
Wiener Städtische Allgemeine Versicherung Aktiengesellschaft
- accident and accident riders reinsurance.
Based on these above mentioned reinsurance contracts
a compulsory reinsurance was effected for all
insurance policies, with sums insured below the reinsurers
limit.
KONTINUITA ANNUAL REPORT 51