Groundbreaking second quarter of 2019 for DEFEND INSURANCE GROUP
DEFEND INSURANCE GROUP, in the second quarter of 2019, recorded excellent results and also dynamic
development topped with completion of the acquisition. Thanks to the outstanding performance of all our
subsidiaries, we have reached €21.6 million in gross written premiums and registered a record 45,800 insurance
policies; representing 20% growth compared to Q2 2018.
DEFEND has closed the second quarter of 2019 with record results and special emphasis should be given to the Polish branch, who recorded 260% growth, and also amazing growth in Hungary with 92% within the quarter.
We began the second quarter intensively, as we launched new products for Carlife Garance, a well-known extended warranty offered by AAA Auto. Carlife Garance Select and Carlife Garance Elite both serves as an upgrade to Carlife Garance 1* and offers a longer insurance period with more covered parts. Beside this upgrade, we are pleased that we managed to increase the outreach of our innovative DEFEND Technical Control STK insurance, which now will be offered through our extensive partner network to even more customers within Czech Republic.
In Poland we concentrated on the launch of DEFEND Truck Protect, extended warranty for truck and commercial vehicles. This unique product is available in three variants and can be concluded with wide scope of optional coverage to ensure most suitable protection for each customer.
“In Q2 we have continued our development of both partner networks and product portfolios, launching some of the amazing products across the region. This has proven our capability to perform multifaceted work in a short period of time. This could not happen, of course, without a team of experienced and committed people,” said Andrew Quirke, Managing Direction of DEFEND INSURANCE GROUP.
Also, Q2 has seen an all-round developments of the structure and processes within the company, providing the foundation for our future growth. We decided to further strengthen our market position by agreeing a majority acquisition by Fortegra Financial Corporation, an A-rated international specialty insurer. Fortegra’s financial stability, combined with their longstanding expertise, will help us to deliver more innovative products which will push the boundaries of insurance innovation across the European market.
“We believe that this step will contribute to mutual benefits and also will bring many new opportunities for our partners and customers. With Fortegra’s support and the benefit of decades of combined expertise, we will enjoy direct access to a consistent market and underwriter, allowing the company to continue providing cutting-edge solutions that build customer satisfaction and partner loyalty across Europe,” said Andrew Quirke, Managing Director of DEFEND INSURANCE GROUP.
In the third quarter of 2019 we are expecting further broadening of our groundbreaking solutions as we will be launching extended warranty for electric cars. Moreover, we are working on online claim registration system for our partners, which will streamline the process and allow partners to track current status of the claim and pass this information to clients.
“Our partnership with Fortegra, together with new and ongoing projects, represent an exciting development for DIG. We believe that all partners and customers will welcome the many new opportunities as we look to the future,” added Quirke.