DEFEND INSURANCE GROUP closes another successful year
The results of DEFEND INSURANCE GROUP for 2018 confirm the significant growth of the whole group
and its stable position as one of the leading providers of supplementary car insurance. Year-on-year the
newly registered insurance contracts increased by 31% for the whole DIG group compared to 2017. Gross
written premium for the year reached €68.4 M.
The last quarter continued along the same successful lines as previous months. We managed to register more than 36,700 insurance contracts. Poland has a large share of this success. Thanks also to the new co-operation with Millennium Leasing - one of the largest leasing companies in Poland – Polish subsidiary has recorded a phenomenal 170% growth and for the first time exceeded 2 million zł of gross written premium per month in December. "The outstanding results meet our strategic plan and confirm its quality in both the short and long term," commented Andrew Quirke, Managing Director of DEFEND INSURANCE.
In the last quarter we have established two important collaborations. With great enthusiasm, we are entering into the new year with Business Lease, provider of both operational and financial leasing services for passenger and commercial vehicles in 5 countries in Central and Eastern Europe. In December we also announced a partnership with the international insurance broker Marsh. The new partnerships will continue to strengthen DEFEND INSURANCE GROUP's position in the insurance market and clients will have easier access to insurance solutions than ever before.
In addition to our business results, we have finished a new update of our online insurance registration and administration system that allows SMS authorisation for registering insurance contracts. This is a significant step towards the creation of a paperless office and will enable us to administer insurance contracts in digital form only from 1 January 2019.
Together with system update, we have updated our wordings that correlate to the recent needs and lifestyles of our customers. We have increased the coverage for alternative fuel cars, providing a replacement vehicle and last but not least, we have prepared ourselves for Brexit. From January 1st, our products are underwritten by Lloyd's Insurance Company S.A. (Lloyd's Brussels) to continue to provide insurance services in the EU for the British insurance market Lloyd's of London.
Thanks to the hard work of the entire group and our balanced portfolio of products and services, we can be proud of 149,384 registered policies for 2018 (31% increase compared to 2017) and a gross written premium amount of €68.4M, thus significantly exceeding the original goal of 131,000 policies.
We expect further growth in 2019. "Our projects, together with a number of newly established co-operations, have contributed to the achievable goal of 175,000 registered policies for 2019 with a gross written premium of €75.7 M," added Quirke.