PPF Life Insurance posts an increase in key performance indicators during the first nine months of 2015
PPF Life Insurance has announced its results for the first nine months of 2015. During this period, the company registered a positive trend across its key performance indicators, including a 4.3% increase in written premiums.
Written premiums totalled RUB 2 billion, 4.3% more than in the same period in 2014. A substantial part of the written premiums, RUB 1.6 billion, was attributable to the dealer network, whose performance grew by 14%. The company paid out settlements for a total of 8,655 claims in the first nine months of the year.
The premiums written in the key areas of the company’s business all increased in comparison to the same period last year. Revenue from long-term savings plans reached RUB 1.6 billion (up 6.2%) whilst revenue from pension plans rose to almost RUB 334 million (up 2.7%).
PPF Life Insurance’s assets have increased by 12.2% to RUB 8.1 billion since the end of 2014. The company’s claim reserves now stand at RUB 6.6 billion.
Vít Sedláček, Chairman of the Board of Directors of PPF Life Insurance, commented on the results: “Our revenue continues to grow because people understand the importance of insurance cover and duly appreciate the quality of our schemes. Our proactive expansion into the regions outside Moscow and St. Petersburg, which we launched in 2013 and is ongoing, has also played a substantial role in achieving these strong results. The Government’s efforts to education the population on the merits of life assurance has also has an influence on the market and our company in particular.
In tough times, people seek to protect themselves against unforeseen events, preferring quality protection. This is precisely the direction in which we will continue developing our product range, strengthening the risk component of our insurance schemes. Given the current environment, this issue is now more current than ever. For example, 64% of all settlements paid to our clients for the first nine months of this year were those under risk-cover schemes and a considerable percentage of the settlements were related to the risk of critical diseases, in particular as a result of oncology diagnoses. Cancer treatment requires enormous funds and our products help our clients to access ad hoc financial support as well as the qualified assistance of financial advisors.”