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.
In the first three months of 2014 the Europa Group achieved PLN 396 MM. of gross written premiums (according to IAS and PLN 457 MM. according to PAS) which generated PLN 25 MM. profit. The Europa Non-life sales increased by half y/y generating PLN 187 MM. of premiums (according to IAS and PAS) and reached a profit of PLN 19 MM. The Europa Life sold policies valued at over PLN 209 MM. (according to IAS and almost PLN 270 MM. according to PAS) and made over PLN 6 MM profit.
“The skill to tailor our offer to the needs of particular business partners constitutes our unique know-how which for the last few years has made us a very specialised player in the market. We can easily spot niche opportunities and propose suitable insurance solutions. In particular, products for the leasing industry are our latest discovery. The sales of the company dealing with life insurance has grown tenfold and sales of the company dealing with property insurance almost fourfold,” says Jacek Podoba, the Chairman of the Europa Insurance Group.
In the first quarter of 2014 the insurance for the SME sector was consistently important business line for the Non-life company. This market is becoming increasingly mature in its nature. This means a greater awareness of the entrepreneurs who appreciate the safety guaranteed by properly selected insurance. The Europa Non-life reacts immediately to the needs of its clients and offers insurances, adjusted to the needs of clients associated with a particular bank, e.g. the innovative insurance of financial stability.
Europa Life almost doubled its sales of structured insurance products. A close cooperation with current partners had a huge impact on this. The sales volume of life insurance products offered with mortgages is ranked as the second most successful business line of the Life company, right after structured products, and it has been systematically growing.
The Europa Group has built its success on relations with banks. Future trends and developments of the banking and insurance industry will be discussed at the 13th European Banking and Insurance Forum starting tomorrow in Serock, near Warsaw. The Europa Group is the organiser of this two-day event.
The topic of the conference is included in this year's title, "The Big Game". The game is about heavy odds: with the new approach and regulations you can win the market, but at the same time lose the customers. “I am sure that our forum will be inspiring for the banking and insurance market allowing us to search for new solutions and to find a place in the fast-changing reality in which we operate,” says Jacek Podoba. “On the one hand we can see, a more vocal client, supported by the latest technologies, and on the other hand, the clear voice of regulatory institutions that also needs to be taken into consideration.”
During this year's conference outstanding personalities in public life and experts in the field of finance will be present, among others Mr Herbert Haas, the Chairman of the Board of Management of Talanx AG, and Prof Krzysztof Rybiński will be speaking. There will be about two hundred attendees, including several chairmen of bank management boards and representatives of leading financial institutions.