kontinuita - Komunálna Poisťovňa

ADDRESS BY THE
CHAIRMAN OF THE
BOARD OF
DIRECTORS
Dear colleagues, shareholders
and business partners,
KONTINUITA poisťovňa, a.s. Vienna Insurance Group
has delivered satisfactory growth also in its 11 th year
of operation on the Slovak life insurance market.
Good results, achieved in 2007, laid the foundation for
such performance. KONTINUITA, the Slovak economy,
as well as the whole insurance market have recorded
extraordinary dynamics and growth, which our company
has matched. New investment opportunities, the
right attitude of all our colleagues and confidence
shown by a growing number of clients have afforded
the company to achieve very satisfactory result in year
2007.
In 2008 KOOPERATIVA poisťovňa, a.s. Vienna Insurance
Group posted premium income of 2,722,275,000 Sk,
thus exceeding, for the 1 st time in its history, the 2.5
billion Sk milestone. In comparison with the same period
in 2007 the premium income has represented an
increase by 12.2%. According to the preliminary results
published by the Slovak Association of Insurers as of
31.12.2008, the company, with premium income of
2,722,275,000 Sk, has finished the year in 7 th place with
market share of 4.29%.
Also the Wiener Städtische Versicherung AG Vienna Insurance
Group continued in an intensive growth
throughout the year. Insurance companies within the
VIG group deliver quality services in life insurance, as
well as non-life insurance sector in 23 countries, employing
approximately 23,000 people. In 2008 the share
of companies from Central and Eastern Europe within
the group has reached 50% of the total group premium
income. The net profit increased in 2008 by 23.7%, to
54 million Euro.
Overall share of the Slovak insurance market captured
by the Vienna Insurance Group, consisting of insurers
KOOPERATIVA poisťovňa, a.s. Vienna Insurance Group,
KONTINUITA poisťovňa, a.s. Vienna Insurance Group,
KOMUNÁLNA poisťovňa, a.s. Vienna Insurance Group
and Poisťovňa Slovenskej sporiteľne, a.s. Vienna Insurance
Group, has increased to 31.14 %.
The company sales channels in 2008 consisted of the
Internal Sales Network, brokers, as well as external
network of financial consultants working under MLM
(multilevel marketing) system, which has confirmed its
leading position in terms of total premium written and
new premium business, thereby making the most significant
contribution towards our targets.
KONTINUITA poisťovňa, a.s. Vienna Insurance Group
specialises in life and accident insurance. We offer
more than 35 types of life and accident insurance with
various rider options, which correspond with European
standards and meet the highest client requirements.
Confirmation of the company’s success are also valuations
produced by independent analyst company Symsite
Research, where our products have occupied top
positions for a number of years. In addition to the capital
life insurance products we focus also on the sale
of investment life insurance, where we are offering our
clients exclusive opportunity to invest in a unique, otherwise
virtually unavailable to the Slovak investor, Fidelity
Basket investment funds managed by one of the
biggest asset managers Fidelity International, Europe
Cliquet from the largest private bank LCF Rothschild
and international company HSBC Global Asset Management.
Result of this co-operation are products
FAMILY GARANT and GLOBAL KONTIINVEST.
Confirmation of the company’s successful progress is
also an excellent rating awarded by agency Standard
& Poor´s A+, with positive outlook.
KONTINUITA ANNUAL REPORT 9