Interamerican: High operating profit of 28.6 million euros, the highest in recent years

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From the Interamerican management team – from left: Andreas Fiamegkos – Legal Service Director, Panos Kouvalis – Tribe Leader, Mobility & Convenience, George Valais – Assistant General Manager, Lefteris Kyriakakis – Corporate Strategy Leader, Erzincanli Murat – Chief Financial Officer – Chief Executive Officer, Drosia Kardasi – Human Resources Manager, Natasa Saterli – Tribe Leader, Health & Financial Future, Tassos Iliakopoulos – General Manager of Sales & Marketing.

Interamerican’s operating profit in 2021 stood at 28.6 million, the highest in the last seven years, the company announced today.

At the same time, Interamerican announced a significant increase in gross registered premiums by 6.3% for 2021, reaching 395.5 million euros from 372.0 million euros in 2020. Excluding unit linked products, the company had an increase 5% compared to the corresponding 2.1% of the market, showing 2.4 times higher growth than the market average in purely insurance products. The main lever of growth of the Group was the General Insurance which participated in the increase of premiums by 66%, while the rest came from the Health and Life sectors.

Based on the results of 2021, the Interamerican Group played a leading role in important insurance sectors, holding high market shares in Health 20.3% (loss 2 sector), Loss Insurance 12.8% in total, Car Insurance 12.3% (3 sectors and 10 losses) and in the area of ​​Assistance 18.3% (branch 18).

The total amount of compensation paid in 400,998 cases of our customers in 2021 reached the amount of 226.9 million euros. The largest volume of compensation was related to the Loss sector with 79.9 million euros (35%), while the largest number of compensations was related to the Health sector (212,762 cases).

It is worth noting that Interamerican paid a significant amount of compensation for natural disasters. Indicatively, the amount of compensation for the fires in North Evia and Attica amounted to 4 million euros.

For another year, Interamerican presented particularly high Solvency II Solvency levels, which ranged from 58% to 139% above the required level, reaching 239% in the Loss Company.

A balanced and successful distribution model

The company’s strategy is to meet the needs of customers through a multi-channel distribution model, utilizing the network of 1,871 intermediaries and the Group’s leading position in direct digital insurance through Anytime. In particular, the corporate network Agency participated in the production in 2021 with a percentage of 33.3%, the network of Agents and Brokers with 31.1%, the Anytime with 23.1% and the other networks e.g. bankassurance, Group, etc. with 12.5%. Anytime continued its growth in 2021 with the gross registered premiums reaching 83.3 million (86.5% car and 13.5% house), while in Cyprus Anytime’s market share in Car insurance was 4%.

Satisfaction and Recommendation Indices (NPS – Net Promoter Score) at historically high levels

Interamerican Customer Reference Index (NPS) stood at 71 for products and 59 for services, which is the best performance for the company of all years. It is noted that internationally the index ranges between 27 and 41. Respectively the satisfaction indicators for both brands (Interamerican, Anytime) reached up to 92%. The respective indicators showed an additional increase in all the networks of intermediaries and were formed at the highest levels of the last 8 years.

Emphasis on a new modern working model and digitization

In 2021, the organizational transformation of Interamerican was successfully completed. A new modern work model has been adopted which places special emphasis on the development and empowerment of people, as well as on the team way of working, with less hierarchical levels. At the same time, it offers every employee the freedom to work remotely or in person (hybrid work model).

Also, the digitization of the company continued at an intensive pace, with innovative mobile applications and digital platforms mainly in the field of health and the car, providing new services and opportunities to the insured.

THE CEO of the Interamerican Group, Giannis Kantoros presented the results of the company for 2021 in an event held at the Head Office of the Group, which have been completely renovated and aligned with the new modern way of working that has been adopted. In particular, he said: “2021 was, despite the challenges we faced, one of the best years of recent years for Interamerican at every level. I am proud not only of the excellent results but also of the new Interamerican we are building, offering value to our customers. , our partners, our employees and society: In 2022 we continue to make significant investments, emphasizing the areas of digitization and strengthening of our infrastructure, the creation of innovative solutions for our customers, as well as the strategic integration of sustainability in each sector of our activity “.