Mondial Assistance reports 1.6 billion Euros in sales in 2008

  • 2008 sales: 1.597 billion Euros (+5.9%), a 8.6% growth at a constant exchange rate 

  • Net profit: 62.6 million Euros (+9.6%) 

  • Combined Ratio: 94.9 (-0.2 pts) 

  • 9817 staff members in 28 countries 

  • 13.5 million files treated

Paris -  14 May 2009: Mondial Assistance has published its financial results for the fiscal year 2008 and reports sales of 1.597 billion Euros, an increase of 8.6% at a constant exchange rate over the 20071 sales figure. In a continuation of previous fiscal years, Mondial Assistance pursued its dynamic strategy and profitable growth with a net profit of 62.6 million Euros, or an increase of 9.6%. This profitable growth, the result of a firm risk control policy, translates into a combined ratio of 94.9, or a 0.2 decrease compared to 2007. The Group’s 9,817 staff members, present in 28 countries, treated a record number of 13.5 million files, or an average of 1 file every 2 seconds throughout 2008.

Remi Grenier, CEO and President of Mondial Assistance’s Executive Committee, declares:

« Mondial Assistance has reconfirmed its place as the leader in Travel Insurance and Assistance, both in France and throughout the world. We continue to grow in all our activities and in all countries where we are present. Our investments in new entities in China, Russia and Mexico, as well as in innovative tools and technologies, contribute to our healthy, profitable growth. Our balanced business portfolio and solid foundations enable us to confront the current global economic crisis and maintain our strategic course.»

Three geographic growth zones

The Group’s 5 most important countries represent three geographic zones (Europe, the Americas and the Asia Pacific): France (364 million Euros), the USA (173.8 million), Italy (132.4 million), Australia (132.0 million) and Germany (130.1 million). This balanced geographical breakdown of the business offers the Group a perspective of worldwide growth.

With an increase of 18.5%, the Americas zone experienced the strongest growth, followed by the Asia Pacific (+7.9%) and then the more mature European markets (+4.1%). Europe remains the Group’s most significant zone, representing 71.8% of overall activity. The American continent represents the second most important zone with 18.6% of overall sales and the Asia Pacific zone represents 9.6%.

Continued development in France

Today, two years after the Group’s different French entities merged, Mondial Assistance is the confirmed French market leader with sales of 364 million Euros, or an increase of 8.3% over 2007. Mondial Assistance employs in France more than 1,851 people. Its activity growth is the result of a strong innovation policy in Personal Services (a dedicated platform, erequests and e-realization of partner services, SALP approval, assistance for care-givers, cell phone tele-assistance, dependence barometer…), as well as strong growth in home and property assistance services and the development of new assistance markets in the telecom, hotel, leisure, tele-surveillance and security industries.

1 file every 2 seconds: a multitude of services

Mondial Assistance’s 9,817 staff members treated a total of 13.5 million files, or 1 file every 2 seconds, in 2008. The services the Group provides throughout the world cover a vast range of needs, from repairing a flat tire in Brazil, to preventing and detecting Alzheimer’s in France, repatriating an accident victim in Thailand to London, or providing professional guidance and orientation to high-school students.

  • Automobile-related services (Assistance, accident management, mechanical warranties, eassistance…) represent 39% of total sales.

  • The Travel business (Travel Insurance, trip cancellation, lost luggage, assistance, expatriation…) contributes 48% to overall sales.

  • The Health and Lifecare sectors (healthcare services, personal and lifecare services, home assistance, tele-assistance, physical dependence…) represent 8% of overall activity in terms of value.

  • And property and other assistance activities make up 5% of Group sales.

2009 – 2015

Like many companies, Mondial Assistance is having to confront the world’s major economic crisis that is disrupting markets everywhere. However, the Group’s balanced geographical breakdown of activities, its distribution channels, and its diverse business lines help to noticeably attenuate the crisis’ negative impact.

More than ever, Mondial Assistance is maintaining its innovation driven culture and the sharing of best practices, which help increase activity growth and productivity. As a result, in 2009, Mondial Assistance is well positioned to confront the current crisis, and as the case may be, to seize growth opportunities.

In this complex and unstable environment, the Group remains focused on short-term management while also preparing to build its future by defining key initiatives that will enable it to realize its strategic ambition by 2015. This ambition is anchored in the Group’s core competencies, and also relies on any development opportunities that may occur thanks to the new distribution channels – Internet B2C and B2B, M-commerce, growth in emerging markets (BRIC) and also the boom in healthcare and property assistance services.

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

International leader in Assistance, Travel Insurance and Personal Services, today the Mondial Assistance Group counts more than 9 817 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.

Cautionary Note Regarding Forward-Looking Statements:
Certain of the statements contained herein may be statements of future expectations and other forward-looking statements that are based on management's current views and assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied in such statements. In addition to statements which are forward-looking by reason of context, the words ‘may, will, should, expects, plans, intends, anticipates, believes, estimates, predicts, potential, or continue’ and similar expressions identify forward-looking statements. Actual results, performance or events may differ materially from those in such statements due to, without limitation, (i) general economic conditions, including in particular economic conditions in the Allianz Group's core business and core markets, (ii) performance of financial markets, including emerging markets, (iii) the frequency and severity of insured loss events, (iv) mortality and morbidity levels and trends, (v) persistency levels, (vi) the extent of credit defaults (vii) interest rate levels, (viii) currency exchange rates including the Euro-U.S. Dollar exchange rate, (ix) changing levels of competition, (x) changes in laws and regulations, including monetary convergence and the European Monetary Union, (xi) changes in the policies of central banks and/or foreign governments, (xii) the impact of acquisitions, including related integration issues, (xiii) reorganization measures and (xiv) general competitive factors, in each case on a local, regional, national and/or global basis. Many of these factors may be more likely to occur, or more pronounced, as a result of terrorist activities and their consequences. No duty to update. The company assumes no obligation to update any information contained herein.

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