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UNIQA remains strongly positioned at the top of the insurance market

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According to a report issued by the National Bank of Serbia, with its share of 5.91% in 2018 UNIQA confirmed its stable fifth position in the Serbian market. The business results of both companies – UNIQA Life Insurance and UNIQA Non-Life Insurance reveal that the total premium generated last year was 5.90 billion dinars. This reveals that with a rise of 8.1%, compared to 2017, the growth achieved by the Company was greater than the one achieved by the insurance market, which totalled 7.3%. In the past year, UNIQA made the profit totalling 308 million dinars in both companies.

With a premium of 1.95 billion dinars and market share of 8.2% in the past year, the Company has taken the 5th position in life insurance, whereas with 3.95 billion dinar worth premium and 5.2% share it has taken the 6th position in the non-life insurance market. Taking into account only voluntary lines of the non-life insurance business, with its 8.93% share UNIQA kept position number 5 in the non-life insurance market in 2018 as well.

 UNIQA keeps implementing its growth strategy directed at voluntary insurances and client service enhancement. For this reason, by investing in new technologies and products, we have noted a record growth exceeding 60% in online sales and improvement in all lines of business. The most remarkable was the growth in travel health insurance sales, taken out by more than 300,000 Serbian citizens, and doubling household sales in the last two months of the past year.

By relying on innovations and its superior service for which it is known, in 2018 UNIQA once again confirmed its well-deserved title of a leader in service quality. Last year it was the one and only in the market to provide: a toll-free Viber number for its consumers of travel health insurance, online payment of insurance premium instalments, and video claims assessment. In addition to travel health insurance, the online sales of household insurance and roadside assistance insurance have also been enabled. The Company’s sales network has been additionally expanded and it now encompasses 43 branch offices, six general agencies and 15 mobile offices across Serbia.

The business results of the past year show that plans were fulfilled regarding both profitability and all relevant business success ratios. In 2019, UNIQA Insurance keeps implementing its organic growth strategy in profitable segments, by which it secures long-term stability.

 

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