Komerční pojišťovna grew much faster than the entire Czech market in the first three quarters of 2010

Press release

11/11/2010
8:00 AM

In the past 3 quarters of this year, Komerční pojišťovna increased its life assurance premiums written by 133% year-on-year to CZK 7 billion while the entire Czech life assurance market grew 19% year on year. Clients are most interested in investment life insurance with a guaranteed yield.

This result greatly exceeds the growth rate of the entire market and Komerční pojišťovna has achieved it thanks primarily to the popular Vital Invest unit-linked life insurance and Vital Premium savings life insurance products.

“In the wake of the instability of financial markets, clients are interested primarily in safe investment products with guaranteed yields. The ability to match the products to the clients’ new needs has brought Komerční pojišťovna the well-deserved share increase in the life assurance market segment,” said Stéphane Corbet, member of the Board of Directors of Komerční pojišťovna.

According to the statistics of ČAP (Czech Association of Insurers) Komerční pojišťovna has confirmed its position as the No.2 insurer on the Czech market in the life assurance segment for the three quarters of 2010.

Komerční pojišťovna’s key products guarantee an attractive growth for clients in 2010. For Vital Invest (in respect of the money invested in the Guaranteed Growth Fund) this guarantee is 3.0%, and for Vital Premium it is as much as 3.1%. For the first nine months of this year alone, almost 7,000 new clients opted for one of these two most popular products.

Komerční banka is one of the best run universal banks in Central Europe. It provides comprehensive services to clients in the areas of retail, corporate, and investment banking. The Komerční banka Group’s 8,624 employees serve 2.7 million clients, who can use an extensive network of 393 points of sale throughout the country. Komerční banka currently operates 675 ATMs and 996,000 of its clients use one of direct banking channels.

Komerční banka is part of the Société Générale Group, one of the largest banking groups in the euro zone (in terms of market capitalisation), whose 157,000 employees serve more than 32 million individual clients worldwide.