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2009 Annual Results

  • 2009 turnover: 1.673 billion Euros (+4.8% or +5.4% at a constant exchange rate)
  • Net return: 56 million Euros
  • Combined Ratio: 95.9 %
  • 10,231 staff members across 28 countries
  • 15 million files handled (+11%) and 42 million telephone calls answered

Mondial Assistance has published its financial results for the 2009 financial year. With a total turnover of 1.673 billion Euros, the world leader experienced 4.8% growth, that is 5.4% growth at a constant exchange rate. Net returns for the financial year were 56 million Euros. In a context made more difficult by the global economic crisis and an increase in claims, Mondial Assistance was able to pursue its profitable growth thanks to its Innovation strategy and the involvement and dedication of its 10,231 staff members, present in 28 countries. The group responded to more than 42 million telephone calls and handled more than 15 million files across all continents.

Mondial Assistance continues to pursue its Innovation strategy and its profitable, responsible growth, » says Rémi Grenier, President of Mondial Assistance. « Our growth relies on the balanced development of our activities, both geographically and in terms of business lines. We are achieving more and more synergies between our entities to share and capitalise on our innovations, accelerate the development of our new products, and offer our clients throughout the world the best possible level and quality of service.

Increased importance of health, life & home care services

Travel Insurance & Assistance was able to resist the crisis thanks to the innovations. This activity grew by 3.8% in 2009 and now represents 47% of worldwide turnover (48% in 2008). The group’s automotive activity, for which turnover was stagnant in 2009, illustrates the difficulties encountered by this sector. Automotive represents 37% of the group’s worldwide activity (39% in 2008). Other services (health, life & home care services…) grew by 22.8% in value and now represent 16% of overall activity (13% in 2008).

Sustainable international growth

The three leading countries in terms of turnover are France (380 million €), the United States (212 million €) and Australia (149 million €). The group’s three geographic zones (Europe, the Americas, and Asia-Pacific) are represented by these three leading countries, thereby confirming and reinforcing the balance of Mondial Assistance’s activities worldwide.

With 17.9% growth, the Asia-Pacific zone experienced the strongest growth, bringing together very specific markets. China saw its activity grow exponentially with an increase in turnover of nearly 70%. Today it counts nearly 300 staff members. Mondial Assistance is now leader in India for automobile assistance, and in Japan, the group accelerated its growth despite the difficult economic context. Finally, Australia posted healthy growth of + 12.9% (+19.5% excluding the impact of the exchange rate), thanks to the development of all of its activities, particularly e-commerce. Australia also expanded its scope of intervention with new commercial activities in New Zealand, thereby confirming Mondial Assistance’s desire to develop and grow in the Pacific zone.

For its part, the American continent reported growth of 16.1%. The boom in B2B and B2C e-commerce, particularly in the United States and Canada, is an important driver for development thanks to Mondial Assistance’s innovation strategy in this domain. Brazil is also pursuing growth at 11.2% and succeeded in diversifying its activity into travel.

Europe, the most historic of the assistance markets, represents 67.3% of the group’s activity. With 17 subsidiaries across the European continent, the group experienced contrasting situations in terms of growth, but overall reported nearly 2% growth in Europe. France (+9.2%), Spain (+11.7%), Greece (+21.4%) and Switzerland (+12.4%) contributed in large part to the group’s healthy dynamics across the zone.

Finally in 2009, Mondial Assistance realised a major project with the creation of a European insurance company that covers seven, and soon to be eleven, countries. This new unique structure is designed to respond to new market expectations with a growing number of clients and pan-European contracts in an open market. This structure will also optimise the group’s resources (consolidation of needs regarding shareholders’ equity and Solvency II regulation requirements).

In line with Mondial Assistance’s expansion strategy, the group explored new markets and opened a sales office in the Middle East, where it signed 3 contracts with local airline companies to offer travel insurance products and solutions to these new markets.

Innovation and responsibility

More than ever in 2009, Mondial Assistance pursued and supported its innovation policy and the sharing of experiences to maintain dynamic growth in a time of economic downturn. Among these innovations, we can mention Smartphone applications developed and launched in Brazil and France, the real-time electronic communication of intervention requirements for network providers in France (more than half a million text messages were sent out automatically), the next generation Travel Insurance 2.0 e-commerce platform and the launch of the product “Banking for life”, a tailored-made assistance concept to support our banking clients in their strategies for increasing their customers’ loyalty.

Last but not least, the Group strengthened its commitment to pursuing socially responsible corporate initiatives and actions in line with its vision of sustainable development, both on a local level and on an international scale, in partnership with MASSIVEGOOD, an innovative travel-related healthcare fundraising initiative for Non-Governmental Organisations (NGOs).

Mondial Assistance: an intervention every 2 seconds around the world

International leader in Assistance, Travel Insurance and health, life & home care services, today the Mondial Assistance Group counts more than 10 231 employees who speak 40 different languages and work throughout the world with a network of 400,000 service providers and 180 correspondents. 250 million people, or 4% of the world’s total population, benefit from its services, which the Group provides on all five continents. Mondial Assistance is a member of the Allianz Group. 

 

Cautionary Note Regarding Forward-Looking Statements

Certain of the statements contained herein may be statements of future expectations and other forward-looking statements that are based on management's current views and assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied in such statements. In addition to statements which are forward-looking by reason of context, the words ‘may, will, should, expects, plans, intends, anticipates, believes, estimates, predicts, potential, or continue’ and similar expressions identify forward-looking statements. Actual results, performance or events may differ materially from those in such statements due to, without limitation, (i) general economic conditions, including in particular economic conditions in the Allianz Group's core business and core markets, (ii) performance of financial markets, including emerging markets, (iii) the frequency and severity of insured loss events, (iv) mortality and morbidity levels and trends, (v) persistency levels, (vi) the extent of credit defaults (vii) interest rate levels, (viii) currency exchange rates including the Euro-U.S. Dollar exchange rate, (ix) changing levels of competition, (x) changes in laws and regulations, including monetary convergence and the European Monetary Union, (xi) changes in the policies of central banks and/or foreign governments, (xii) the impact of acquisitions, including related integration issues, (xiii) reorganization measures and (xiv) general competitive factors, in each case on a local, regional, national and/or global basis. Many of these factors may be more likely to occur, or more pronounced, as a result of terrorist activities and their consequences. No duty to update. The company assumes no obligation to update any information contained herein.