Výročná správa 2009 - Komunálna Poisťovňa

5.4. Reinsurance KOMUNÁLNA poisťovňa a.s.,Vienna Insurance Group in 2009Reinsurance is an inseparable part of themanagement of Komunálna poisťovňa a.s.,Vienna Insurance Group.In 2009 Komunálna poisťovňa was reinsuredas a part of VIG group, by VIG RE captivereinsurance. Obligatory reinsurance contractscovers property, liability insurance ofprivate individuals and small and medium businesses,as well as comprehensive insuranceand transport insurance.For coverage of large industrial risks Komunálnapoisťovňa is using the group VIGprogramme, Bundled Surplus, which is providingsufficient capacity for risk underwriting.The programme is reinsured by leading reinsurers,such as Munich Re, which is actingalso as a lead reinsurer.Against individual damages the Komunálnapoisťovňa is covered by non-proportionalplacement programme through leading reinsurancebroker AON Benfield.Major obligatory, quota share reinsurancecontract is also a multi-year contract with reinsurerSCOP France, covering our MTPL insurance.The proportional contract is linked alsoto the coverage of natural catastrophic risks,major losses, which is covered by VIG Re reinsurancecompany.During the year 2009 we have renewedreinsurance programme for the coverage ofcatastrophic risks, through which we havearranged sufficient capacity for our companywithin the group programme of the VIG. For anumber of years the catastrophic risks coveragehas been modelled by leading brokers andtheir floods models, which give us the ability tocompare results, therefore optimise our coverageneeds against unexpected natural events.Importance of reinsurance is constantly onan increase, which contributes to the stabilityof our company’s results and opportunitiesto access new know-how in the areas of riskmanagement, product management, claimssettlement, as well as other areas. Long-termco-operation with reinsurance partners is acontributing factor towards the stability of Komunálnapoisťovňa’s results.5.5. Company culture – Company valuesCompany culture• Key ingredient of the company’s success,mission and strategy• Covers overall comp climate, it is a measureof the employee behaviour towards themselves,the clients and it reflects mutual trustand satisfaction of employees• Directly influences employee motivation• KOMUNÁLNA poisťovňa, a. s. Vienna InsuranceGroup has clearly defined companyvalues, which represent the basic behaviourprinciples of the company employees. Thebasis of company culture is employee identificationwith the company, engaged, initiativeapproach to work, loyalty and respecttowards the company goals.• Performance-oriented company culture ofVienna Insurance Group is focused on maximumclient orientation, with the aim of providingtop quality service.• Application of these principles has resulted ina situation when in 2009 we have attained leadingposition on the Slovak insurance market.• Core of the company culture is the recognitionof the basic values:55