Turnover Up at Mondial Assistance Group

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Mondial Assistance Group, (roadside assistance provider in Ireland), confirms its international leadership  with turnover of €1.67 Billion , and 5.4% growth

  • 2009 turnover: €1.673 billion  (+4.8% or +5.4% at a constant exchange rate)
  • Net return: €56 million
  • Combined Ratio: 95.9 %
  • 10,231 staff members across 28 countries, including Ireland
  • 15 million files handled (+11%) and 42 million telephone calls answered

Mondial Assistance Group, which includes the Mondial Assistance operations in Ireland, has published its financial results for the 2009 financial year. With a total turnover of €1.673 billion, the world leader experienced 4.8% growth that is 5.4% growth at a constant exchange rate. Net returns for the financial year were €56 million. In a context made more difficult by the global economic crisis and an increase in claims, particularly in countries such as the UK and Italy, Mondial Assistance was able to pursue its profitable growth thanks to its Innovation strategy.

In Ireland, Mondial Assistance operates from Q House in the Sandyford Industrial Estate, providing travel insurance administration services and roadside assistance services to clients such Aer Lingus, Allianz, BMW, Delta Airlines, KIA,KLM, Lexus, Mazda, Mitsubishi, Peugeot, Suzuki, Toyota and Volvo.

Martin Lyons, Director General with Mondial Assistance in Ireland commented on the group results, saying: “Mondial Assistance has reported encouraging signs of growth and despite the recession, we have secured a number of important business wins throughout 2009. Reflecting the Group’s focus on Innovation, our online travel insurance business continues to go from strength to strength and our world leading assistance solutions continue to evolve benefiting all of our Irish clients.”

With the involvement of its 10,231 staff members, present in 28 countries, including over 40 staff members in Dublin, the Mondial Assistance group responded to more than 42 million telephone calls and handled more than 15 million files across all continents.

“Mondial Assistance continues to pursue its Innovation strategy and its profitable, responsible growth,” adds Rémi Grenier, President of Mondial Assistance.  “Our growth relies on the balanced development of our activities, both geographically and in terms of business lines. We are achieving more and more synergies between our entities to share and capitalise on our innovations, accelerate the development of our new products, and offer our clients throughout the world the best possible level and quality of service.”

Increased importance of health, life & home care services

Travel Insurance and Assistance was able to resist the crisis thanks to innovation. This activity grew by 3.8% in 2009 and now represents 47% of worldwide turnover (48% in 2008). The group’s automotive activity, for which turnover was stagnant in 2009, illustrates the difficulties encountered by this sector. Automotive represents 37% of the group’s worldwide activity (39% in 2008). Other services (health, life & home care services) grew by 22.8% in value and now represent 16% of overall activity (13% in 2008).

Sustainable international growth

The three leading countries in terms of turnover are France (€380 million), the United States (€212 million) and Australia (€149 million). The group’s three geographic zones (Europe, the Americas, and Asia-Pacific) are represented by these three leading countries, thereby confirming and reinforcing the balance of Mondial Assistance’s activities worldwide.

With 17.9% growth, the Asia-Pacific zone experienced the strongest growth, bringing together very specific markets. China saw its activity grow exponentially with an increase in turnover of nearly 70%. Today it counts nearly 300 staff members. Mondial Assistance is now leader in India for automobile assistance, and in Japan, the group accelerated its growth despite the difficult economic context. Finally, Australia posted healthy growth of + 12.9% (+19.5% excluding the impact of the exchange rate), thanks to the development of all of its activities, particularly e-commerce. Australia also expanded its scope of intervention with new commercial activities in New Zealand, thereby confirming Mondial Assistance’s desire to develop and grow in the Pacific zone.

For its part, the American continent reported growth of 16.1%. The boom in B2B and B2C e-commerce, particularly in the United States and Canada, is an important driver for development thanks to Mondial Assistance’s innovation strategy in this domain. Brazil is also pursuing growth at 11.2% and succeeded in diversifying its activity into travel.

Europe, the most historic of the assistance markets, represents 67.3% of the group’s activity. With 17 subsidiaries across the European continent, the group experienced contrasting situations in terms of growth, but overall reported nearly 2% growth in Europe. France (+9.2%), Spain (+11.7%), Greece (+21.4%) and Switzerland (+12.4%) contributed in large part to the group’s healthy dynamics across the zone.

Finally in 2009, Mondial Assistance realised a major project with the creation of a European insurance company that covers seven, and soon to be eleven, countries. This new unique structure is designed to respond to new market expectations with a growing number of clients and pan-European contracts in an open market. This structure will also optimise the group’s resources (consolidation of needs regarding shareholders’ equity and Solvency II regulation requirements).

In line with Mondial Assistance’s expansion strategy, the group explored new markets and opened a sales office in the Middle East, where it signed three contracts with local airline companies to offer travel insurance products and solutions to these new markets.

Innovation and responsibility

More than ever in 2009, Mondial Assistance pursued and supported its innovation policy and the sharing of experiences to maintain dynamic growth in a time of economic downturn. Among these innovations, Smartphone applications were developed and launched in Brazil and France, the real-time electronic communication of intervention requirements for network providers in France (more than half a million text messages were sent out automatically), the next generation Travel Insurance 2.0 e-commerce platform and the launch of the product “Banking for life”, a tailored-made assistance concept to support our banking clients in their strategies for increasing their customers’ loyalty.

Last but not least, the Group strengthened its commitment to pursuing socially responsible corporate initiatives and actions in line with its vision of sustainable development, both on a local level and on an international scale, in partnership with MASSIVEGOOD, an innovative travel-related healthcare fundraising initiative for Non-Governmental Organisations (NGOs).

Mondial Assistance: an intervention every 2 seconds around the world.

International leader in Assistance, Travel Insurance and health, life & home care services, today the Mondial Assistance Group counts more than 10 231 employees who speak 40 different languages and work throughout the world with a network of 400,000 service providers and 180 correspondents. 250 million people, or 4% of the world’s total population, benefit from its services, which the Group provides on all five continents. Mondial Assistance is a member of the Allianz Group.

www.mondial-assistance.com

Finally in 2009, Mondial Assistance realised a major project with the creation of a European insurance company that covers seven, and soon to be eleven, countries. This new unique structure is designed to respond to new market expectations with a growing number of clients and pan-European contracts in an open market. This structure will also optimise the group’s resources (consolidation of needs regarding shareholders’ equity and Solvency II regulation requirements).

In line with Mondial Assistance’s expansion strategy, the group explored new markets and opened a sales office in the Middle East, where it signed three contracts with local airline companies to offer travel insurance products and solutions to these new markets.

Innovation and responsibility

More than ever in 2009, Mondial Assistance pursued and supported its innovation policy and the sharing of experiences to maintain dynamic growth in a time of economic downturn. Among these innovations, Smartphone applications were developed and launched in Brazil and France, the real-time electronic communication of intervention requirements for network providers in France (more than half a million text messages were sent out automatically), the next generation Travel Insurance 2.0 e-commerce platform and the launch of the product “Banking for life”, a tailored-made assistance concept to support our banking clients in their strategies for increasing their customers’ loyalty.

Last but not least, the Group strengthened its commitment to pursuing socially responsible corporate initiatives and actions in line with its vision of sustainable development, both on a local level and on an international scale, in partnership with MASSIVEGOOD, an innovative travel-related healthcare fundraising initiative for Non-Governmental Organisations (NGOs).

Mondial Assistance: an intervention every 2 seconds around the world.

International leader in Assistance, Travel Insurance and health, life & home care services, today the Mondial Assistance Group counts more than 10 231 employees who speak 40 different languages and work throughout the world with a network of 400,000 service providers and 180 correspondents. 250 million people, or 4% of the world’s total population, benefit from its services, which the Group provides on all five continents. Mondial Assistance is a member of the Allianz Group.

www.mondial-assistance.com