The insurance company Kontinuita Poistovna, a.s. reported written premiums of SKK 1.639 billion for last year, which is an increase of 28.3 percent y/y. According to preliminary figures released by the Slovak Insurance Companies Association, Kontinuita has increased its share in written premiums on the life insurance market to 6.37 percent. Kontinuita representatives informed SITA that the insurance company's commercial output, reflecting the number of new policies, rose 39.7 percent y/y to SKK 1.112 billion last year. Kontinuita closed last year with a taxed profit of SKK 30.476 million, which is an increase of 79.4 percent as compared with 2005. Kontinuita wants also to focus on selling products of capital life insurance and investment insurance this year.
Written premiums of the insurance group, which along with Kontinuita Poistovna also includes Kooperativa and Komunalna Poistovna, reached EUR 387.7 million last year, which is almost SKK 13 billion. These three insurance companies thus increased their written premiums by 17.1 percent y/y. Non-life insurance constituted approximately 65 percent of the total volume of written premiums. The insurance group controls 27.1 percent of the Slovak insurance market. The insurance companies' pretax profit in Slovakia amounted to EUR 27.7 million last year, which is 10.7 percent more than in 2005.
Kontinuita was launched in 1997 and operated as a universal insurance company until 2003. At present it specializes in life and accident insurance. Kontinuita Poistovna, along with Kooperativa and Komunalna Poistovna, are members of the Austrian insurance group Wiener Stadtische, which has been operating abroad under the name of Vienna Insurance Group since January 2006.
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