Quelle-Versicherung aus dem Katalog

Article Abstract:

The Austrian arm of the big German mail order house Quelle claims to be the leading direct-sales insurance company in the country. Quelle Versicherung AG, which entered the Austrian market in 1992, has been making profits for two years. Premium volume is about Sch 85mn. More than 30,000 of the 1.2mn mail order clients of Quelle in Austria have signed life or accident insurance policies with the company. Quelle is targeting people over 50. The company sees this age group, which is neglected by other insurers, as the most rapidly growing market segment with increasing spending power. Quelle requires no health check of elderly people signing a life insurance policy. The share of women among Quelle's insurance clients, at 55-60%, is exceptionally high. Quelle does not believe internet sales of insurance policies to gain much ground in the next few years. So far the company has sold hardly any policies via the internet.

Comment:

Has been making profits for two years as premium volume is about Sch85 mil

Insurance, Insurance Carriers and Related Activities, Article, Quelle Versicherung AG

---

AUSTRIA: STRONG GROWTH FOR S VERSICHERUNG

Article Abstract:

S Versicherung, the insurance company of Austrian savings banks, reports a 61.5% increase in premium income to Sch 7.7bn in 1999, while the Austrian life insurance market grew 17.9%. Payouts by the company to the insured rose from Sch 920mn to Sch 1.2bn. Capital investments grew 33% to Sch 31bn. Director general Michael Harrer attributes the favourable development to close cooperation with savings banks and Erste Bank. There is keen demand for private pension insurance policies, and young people are interested in unit-linked policies. By the end of year 2000 S Versicherung is to start operating in Hungary in cooperation with Erste Bank Hungary. The launch in the Czech Republic will take place after Erste Bank has completed the majority takeover of Ceska Sporitelna.

Foreign operations, Czech Republic, Hungary

---

AUSTRIA: VKI WARNING ON UNIT-LINKED INSURANCE

Article Abstract:

The Austrian consumer organisation VKI has published a study of unit-linked life insurance policies in its Konsument magazine. The authors point at the low yields of such policies and recommend consumers to consider combining specific-rest life insurance policies with saving in unit trusts on an individual basis. VKi also criticised confusing information provided by insurers about pension policies.

Government regulation (cont)

Similar abstracts:

• Abstracts: AUSTRIA: MOBILKOM CRITICISED BY WATCHDOG. AUSTRIA: TA PLANNING TO CUT RATES. AUSTRIA: RULING ON PHONE NUMBERS
• Abstracts: AUSTRIA: STUDY ON LEARNING SOFTWARE. AUSTRIA: LANGUAGE-LEARNING SOFTWARE IN SCHOOL. AUSTRIA: GRAND PRIX WORLD BY MICROPROSE

This website is not affiliated with document authors or copyright owners. This page is provided for informational purposes only. Unintentional errors are possible.