Mondial Assistance Group, the travel insurance and automobile assistance division of German insurance goliath Allianz, has reported increasing turnover by 11% and its overall net profit by 107% in 2005.
In 2005 the company recorded sales of E1.221 billion, an increase of 11% compared to 2004Operating profit increased 2.3% to E45.6 million, and net profit increased to E47.8 million after taxes, a 107% increase compared to 2004.
Automobile assistance, a traditional business line for Mondial Assistance, accounted for 44% of sales and grew by 11%, in line with overall group growth, despite stagnant vehicle sales in the European market.
Meanwhile, travel insurance and assistance contributed 45% to Mondial Assistance Group’s sales. The travel insurance and assistance business reported worldwide growth of 9% in 2005.
Healthcare services accounted for 6% of turnover and grew by 30% in 2005.
In recent years, Mondial Assistance Group has developed and maintained a profitable position on markets undergoing profound change, commented Klaus Duhrkop, president of the executive committee of Mondial Assistance Group. We are in an excellent position to continue our development not only in promising sectors such as personal services, but also in growing new markets.