Europa Group published financial results
Within the first six months Europa Group (the Polish insurer) generated nearly PLN 44 bln revenue and collected PLN 782 bln gross premium written. The company achieved satisfying sales results, among others, in the mortgage insurance sector, leasing and investment insurance.
In the first half of 2016 Europa Group in the non-life sector collected PLN 176 bln gross premiums and generated PLN 35 bln of profit, 15% more than in the previous year. Europa in the life sector increased its sales by 60%, generating PLN 606 bln premiums. The financial net result of the company was PLN 9 bln.
“Years of experience in bancassurance have taught us how to go forward despite the turmoil in the market. Cooperation with banks remains our most important business. At the same time, we are systematically building other pillars, creating an offer for non-banking partners and products that customers can buy on our website or via comparison engines. The Internet is no longer only a source of information about insurance, but it’s starting to be an effective tool for distribution” - Marat Nevretdinov, Vice President of Europa Group, says.
In the first half of 2016, the non-life company increased its sale of insurance policies linked to mortgage loans. This growth is enhanced by the recovery in the loans market which results from the implementation of government programmes such as Mieszkanie dla Młodych (the Apartment for the Young).
This year's novelty is personal liability insurance which customers can buy on the company’s website. In recent weeks, the company introduced another offer available online: identity protection insurance, protecting the legal interests of individuals whose personal data may be used in an illegal manner.
Europa Life increased their sales by approximately 2.5 times y/y. Such growth was possible only thanks to a completely new product solution with a simple fee structure, low level of additional costs and the possibility of cancellation at any time.
“Currently, the company offers unit-linked insurance policies with a single premium targeted at different customer segments. The most popular products are those which, on the one hand, provide access to a wide range of funds, and on the other hand, allow allocating funds to specially profiled model portfolios. We are particularly pleased with the fact that our customers quote the great performance of our recently introduced products as the main advantage”- Marat Nevretdinov says.