Customer confidence, digitisation and new regulations on the bancassurance market in Poland
For the thirteenth time, the Polish Europa Group, the subsidiary of Talanx International has organised the European Banking and Insurance Forum. It is one of the most prominent places for dialogue and to exchange experience in the bancassurance industry. This year's conference took place on 22nd and 23rd May in Warsaw, and the main topics under discussion were clients' confidence, digitisation and new regulations which are to influence the Polish market. It was the first time when the conference was relayed on our Twitter feed: @grupaeuropa.
The beginning of the year sees the Europa Insurance Group achieving a profit of almost PLN 25 MM
Profit increased by 10 per cent equivalent to the value of almost PLN 25 MM. and sees a substantial increase in the sales of key products lines - this is how the Europa Group can summarize the first quarter of this year, on the eve of holding the 13th European Banking and Insurance Forum. It is one of the most crucial platforms for dialogue in the banking and insurance sector in Poland which is currently going through major changes.
Europa Insurance Group: the year of record sales
In 2013 Europa Insurance Group doubled sales compared to the previous year achieving a record level of nearly PLN 2.1 billion (as per IAS) and earned a profit of PLN 108 million. The driving force of the increased revenues was the specialized offer for the SME sector and insurances sold together with short-term banking products such as installment loans and cash loans both in the non-life and life insurance sector. The business success of Europa companies is based mainly and consistently on cooperation with banks.
Europa secures second position in Friendly Insurance Company competition
Europa Non-life Insurance Company achieved second place in the Friendly Insurance Company 2013 competition organised by Gazeta Bankowa (Banking Gazette). The key criterion of the evaluation was the quality of after-sale customer service.
Three quarters of high growth for the Europa Insurance Group
In the first three quarters of 2013, the Europa Insurance Group increased its sales by as much as 3 times compared with the same period last year, and collected according to IFRS over 1.5 billion in gross written premium (nearly PLN 2 billion according to PAS). Europa companies generated in total over PLN 85 million in profit. The Group is doing very well on the market despite uncertainties related to the bancassurance sector, created as a result of the period of waiting for regulations announced by KNF (the Polish Financial Supervision Authority). Europa's results are a consequence of outstanding insurance sales for SME and protection products bundled to cash and installment credits, as well as the development of sales in the telephone channel, among other things.
Europa Insurance Group: best half-year sales ever
In H1 2013, the Europa Insurance Group achieved its best sales ever, reaching PLN 1.1 billion in gross written premiums (according to IAS). Europa Life boosted sales five times over while Europa Non-Life more than doubled its sales vs. H1 2012. Insurance products in the bancassurance sector drove the results for both companies. The Group?s financial result totaled PLN 41.5 million.
Record-breaking 1st quarter of 2013 at the Europa Insurance Group
This has been the best quarter for sales in the history of the Europa Insurance Group. In the first three months of the year, the gross written premium of the Group lay above half a billion PLN (in accordance with IAS). At the same time, it generated a net income of almost PLN 23 million. Key business lines producing the biggest sales include financial insurance for SMEs in the non-life company, and investment insurance products with single-premium payments and insurance products covering instalment loans in the life company.
12th European Banking and Insurance Forum "Strategy of trust"
Polish customers are among the most mistrustful consumers in the world, the 2013 Edelman Trust Barometer has revealed. This indicates that, in particular in times of economic slowdown, financial institutions have to focus on building long-term relations with customers. At the approaching 12th European Banking and Insurance Forum distinguished public figures and experts on the financial sector will be considering the reasons for the decline in trust in the financial sector and the opportunities to improve the situation. The conference will take place in just under a month from now in Serock, near Warsaw.
Europa Insurance Group: nearly 40-percent sales increase and 144 mln net profit
Insurance Company Europa, operating on the life and property market, collected in 2012 over PLN 6 bn of premium (in accordance with PSR) and developed almost PLN 144 mln net profit (in accordance with IAS). After the take over of Talanx and MeijiYasuda, Europa implements a new business strategy, which will allow for the further, dynamic development of present and new segments of activity.
Europa strengthens its Management Team
Marat Nevretdinov and Andrzej Popielski were appointed today by the Supervisory Board to the positions of Vice-Presidents of the Management Board of Towarzystwo Ubezpieczeń Europa S.A. and Towarzystwo Ubezpieczeń na Życie Europa S.A. They will be responsible for development of the sales and products area and for setting new business directions.