InterRisk TU SA Vienna Insurance Group

In 2008, InterRisk SA Vienna Insurance Group continued its product diversification policy with the aim of maintaining a high premium written growth and generating return on the insurance business. The Company offered some 150 different insurance products in 2008, both individual lines and group business for specific professional groups. With regard to group lines, the Company designed and developed quality insurance packages. The Company focused on improving the competitiveness of its personal and SME lines, reinforcing its specialisation in financial, engineering, personal and health products and maintaining its leadership position in financial insurance. The success of the Company in 2008 was achieved with 618 full time staff, over 2,000 insurance agents, over 8,000 individuals performing agency functions and 730 insurance brokers. In 2008, InterRisk covered its portfolio with leading reinsurers: Swiss Re, SCOR, Munich Re, Sirius, Atradius Re, XL Re, Hannover Re, Converium, Commercial Union, Polskie Towarzystwo Reasekuracji, Mitsui Sumitomo Re, Everest, Trans Re, Lloyd’s Syndicates. The Company generated profit for 11 consecutive years. In 2008, its gross profit grew by 37.3% against 2007. The profit was injected into the reserve capital and thus the security indicators were significantly strengthened. The key sources of profit growth in 2008 were: high growth of premium written, positive result on the insurance business, relatively low loss ratios, optimised business portfolio, increase in the amount and return on investments and rationalised cost of administration and acquisition, and their lower share in premium written. In 2008, InterRisk received numerous awards for insurance product innovation, quality product offering, client service, and business growth.