International reinsurers are increasingly turning the focus of their attention to the reinsurance market in Central and Latin America, particularly due to the upbeat economic development of this region. Demand from local insurers spans a highly diversified product range, extending from traditional life insurance through pension insurance products to accident and health insurance solutions. We have been an established business partner for quite some years now and we have built up good customer relationships. The product diversity described above is similarly reflected in our portfolio, with group life business accounting for the lion’s share.

Competition has heated up appreciably over the years as the number of market players increased. We nevertheless boosted our premium volume by almost one-third in the year under review and again improved our profit margin.