PPF Life Insurance: Growth in premiums in Q1 2015 despite a difficult market environment
PPF Life Insurance has published its results for the first quarter of 2015. The written premiums in the period reached 668.9 million roubles. Revenue from long-term savings and pension plans, comparable with the results for 2014, amounted to 658 million roubles, an increase of 2.4% year-on-year.
Vít Sedláček, Chairman of the Board of Directors, PPF Life Insurance, commented: “Recent economic developments have brought challenges but also new opportunities to the life insurance market. We saw new opportunities for the development of our company offering given these changes and we started to bring them to life in the first quarter of 2015. In times of economic upheaval, people prefer to secure their livelihood and want guarantees of timely financial assistance in the event of losing their health. This is why we took a step closer to our clients’ requirements and adjusted our offering to their changing needs by providing an improved product range. The common feature of all our new additional features is the combat of critical diseases. This direction is not just product innovation for us – it is also a strategic approach that is part of our mission to care for people and contribute to the protection of their health and wellbeing. We will continue in this direction during 2015, seeking new market niches, developing our primary sales channel, and most importantly, improving our services for our customers.”