Výročná správa 2009 - Komunálna Poisťovňa

ance class represents 29% of the total premiumwritten, whereby the premium consistedof MTPL coverage of approximately 157,000vehicles and approximately 46,000 vehicleswith comprehensive motor vehicle insurance.The total number of vehicles insured declineby approximately 3.5%, whereby the decline incomprehensive motor vehicle insurance wasonly about 400 policies.For the third year running the insurancecompany has given a public undertaking thatwithin the MTPL coverage it will participatealso in damages incurred by the motor vehicledriver, as well as damages caused by naturaldisasters.Total premium income in MTPL class reached€20.2 million, which represents a declineagainst the previous year by 14 percentagepoints. The comprehensive insurance postedsimilarly weaker results represented by the totalpremium income of €19.9 million, i.e., declineby €2.1 million. This decline was a result bythe business sector slowdown in Slovakia evendespite strong government subsidies for motorvehicle sales. The company has recorded anexhibit of old motor vehicles from the portfolio,which were scrapped. Subsequently the clientswere purchasing motor vehicles, with a low importprice for the comprehensive insurance.Many clients have taken the risk and decidednot to take out comprehensive motor vehicleinsurance.Non-life insuranceAmong other classes of non-life insurancethe company includes property insurance forbusinesses, liability, travel and accident insurance.During the year 2009 the company beganto profile itself as an insurer, capable ofcreating suitable projects for clients from theindustrial sector, businesses and mainly thegeneral public. In the property and liability insurancein particular the company has managedto profit from its business tactics, responsibleunderwriting policy and orientation towardsquality auxiliary services. In all classes of businessliability insurance, as well as transportationinsurance we have managed to improveagainst year 2008. We are proud of our extraordinaryresults in real estate and householdinsurance for private individuals, recording17% premium increase when compared withprevious year. In other non-life insurance classeswe have generated a total premium incomeof €8.182 million.During the year the company generatedapproximately 26,000 new insurance contractsin the other non-life insurance class, which isapproximately 4,100 more than in the previousyear. The most popular products includedmillion accident insurance for motor vehiclepassengers, accident insurance for students atschool, bulk property insurance for individuals,liability insurance for businesses and privateindividuals and travel insurance abroad, aswell as in Slovakia with insurance rider coveringMountain Rescue Services.Life insuranceAfter the merger between companies KO­MUNÁLNA poisťovňa, a.s. Vienna InsuranceGroup and KONTINUITA poisťovňa, a.s. ViennaInsurance Group the new company acquired9 th place in the Slovak insurance marketof 18 companies providing life insurance, withpremium income totalling €35.808 million, i.e.,3.37% market share in terms of premium income.During the year the company has managedto convince the clients that it is able to createideal long-term programmes through life insurance,as well as utilise the market potential byinsuring the youngest family members. Duringthe year the new KOMUNÁLNA poisťovňa, a.s.Vienna Insurance Group has produced morethan 5,700 new insurance polocies.the most popular types of contracts includechildren, dowry, or types of investmentproducts, as well as products with variable disbursementsof the sum insured in retirement.These modernised products, with their attributes,have become the best products on theinsurance market and they have augmentedanother retirement savings pillar.Throughout the year KOMUNÁLNA poisťovňa,a.s. Vienna Insurance Group was offeringclients indexed investment life insurance“Výnos – Voľba Investičného Granda“. It wasa limited series originating in year 2008, designedin co-operation with the Austrian ErsteBank and due to popular demand we haveextended its sale also in 2009. In comparisonwith regular investment instruments, wherethe client does not know what you he can expect,the programme Výnos VIG (VIG Yield)provides the client a contract guarantee of aminimum yield equalling a multiple of 1.51 ofthe client deposit. In 2008 the programme wasdesigned for a 10-year period. In 2009 clientswere able to join the programme with a yieldguarantee already after 9 years.On 1.7.2010 we have included in our portfolioinvestment products, providing the clientswith opportunity of investing in fans of the biggestprivate bank in the world, the RothschildBank, as well as funds managed by HSBCBank.Co-operation with external companiesAs in the past, co-operation with externalcompanies in 2009 represents for the companya significant distribution channel. Duringthe year our company has cooperated withSpráva predstavenstva I Management Report47