LITHUANIA: COMPENSA Life showed steady growth in 2014

25 February 2015 — Vlad BOLDIJAR
The results of the Lithuanian Branch of the life insurance company COMPENSA Life Vienna Insurance Group SE have been steadily growing for three years consecutively. Compared to 2013, the total sum of underwritten life insurance and health insurance premiums increased by 35% and amounted to EUR 24 million (LTL 83 million).

Meanwhile, the sum of underwritten life insurance premiums in 2014, compared to 2013, grew up by 38% and amounted to EUR 21 million (LTL 72.4 million). Last year the sum of periodical premiums of the newly concluded contracts increased by 25% and amounted to EUR 6.5 million (LTL 22.6 million).

"We consistently follow our strategic direction - commitment to a customer. We are seeking that our offers would meet the personal needs of every customer and maintain high service standards. In 2014, we decreased a response time to the requests of customers even more and reduced the period for the reimbursement of an insurance indemnity. The fact that people are choosing our products we treat as a proof of the due operation of our company", said Tomas MILASIUS, the CEO of the Lithuanian Branch of COMPENSA Life Vienna Insurance Group SE, who commented the results.

Last year, the amount of underwritten health insurance premiums grew up by 20% and went past EUR 3 million (LTL 10.6 million) point. "We have formed a qualitative product at an attractive price and believe that this insurance is beneficial for our customers. We are glad that demand for this product is growing. The number of companies that use health insurance as an incentive for their employees is increasing, in this way the managers of companies appreciate their employees and take care of them", said T. MILASIUS.

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