UNIQA Slovakia Increases Market Shares

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UNIQA Slovakia Increases Market Shares

Continuing its dynamic development, the Slovakian UNIQA poistovna succeeded in increasing the premium volume by 5.7% to EUR 50.9 million in the first half of 2009, despite the tense economic situation. UNIQA poistovna was therefore once again the fastest growing company amongst the ten largest insurers in Slovakia, because the volume for the Slovakian insurance market as a whole fell by almost 2% in the same period.

"Thanks to the joint and exemplary efforts of all our employees and partners, we have succeeded in making optimal use of the potential available on the Slovakian market. All in all, the fact that we have always been uncompromising about the quality of the products and services we offer is one of the main factors for success - qualitative growth has always been more important to us than rapid increases in turnover without a solid base. This allows to build sustainably on the confidence we have developed for ourselves and also grow in difficult situations. I therefore expect that we will cross the EUR 100 million premium threshold for the first time in the current financial year.", Harald Chrstos, CEO of UNIQA poistovna, said.

UNIQA poistovna achieved the strongest growth rates in the first six months of the year in the life insurance line, with a rise of 8.5% to EUR 13.9 million - proof of the successful strategic cooperation with Slovakia's TatraBanka. In comparison, the entire Slovakian life insurance market shrank by 2.3%.

In the non-life insurance line as well, UNIQA poistovna grew by 4.7% to EUR 37.1 million and is therefore doing much better than the market, which in this case fell by 1.5%. This above-average success is mainly due to motor vehicle insurance, where the premium volume has risen by 10%. In total, UNIQA poistovna has a market share of 6.9% in the non-life insurance line and is therefore in fourth place amongst Slovakian insurers.

UNIQA poistovna has around 300 employees on its payroll in Slovakia, 882 affiliated brokers, manages around 773,000 policies and in addition to the headquarters in Bratislava has 39 branch offices and a further 75 insurance agencies throughout the country.

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