VÝROČNÁ SPRÁVA - MetLife Amslico

English summaryReport on the business activity and state of assets of the companyAmslico – the life insurance specialist - reached in the year of 2009 the gross written premium in the amount ofEUR 122.617 million. Having the life insurance market share of almost 12 %, the company is the third biggest one fromamong all 19 member insurance companies of the Slovak Association of Insurance Companies (SLASPO)*.As it results from the audited results of the company for the previous year, in the last year the company operatedwith the gross profit of EUR 23.094 million that represents the increase by more than 1 percent in comparison withprevious year. The net profit reached the amount of EUR 17.992 million which is an increase by 1.5 percent on theyear-to-year basis. It is the highest profit of our company during its operation history in Slovakia. Amslico is repeatedlybeing one of the most profitable insurance companies and it has not recorded a loss by now. As having been stressedby the representatives of the company: “In 2010 Amslico entered the 15th year of its operation in the Slovak insurancemarket. The whole preceding period has been accompanied by the financial stability, long-term experience in this field,professional approach to the clients, high quality and scope of provided services and last but not least, by financialdiscipline. During the same period, our company has been one of the most profitable insurance companies in Slovakia.This represents financial safety for our current and potential clients.”Technical reserves of the company that serve for coverage of obligations to the future had within the 12 months of2009 the amount of EUR 526.977 million. In comparison with the same period in 2008, it is an increase by more than3.8 percent.As it further results from the audited results of Amslico, during the given period the company recorded an increaseof the assets by 7.0 percent which currently amount to EUR 685.027 million. The equity capital of Amslico has been EUR139.527 million which is an increase by almost 20 percent on year-to-year basis. The fulfillment of company´s obligationstowards the clients is reflected in the fact that the net expenses for insurance claims in the year 2009 amounted to EUR93.449 million which is an increase by more than 16 percent. The company - as one of only few insurance companies- discloses the insurance contracts persistency rate, which reached 84 percent towards the end of the last year. Thisindicator reflects clients´ satisfaction with services of the company.Amslico provides its services by more than 600 professional bound financial agents; it cooperates with majorcompanies providing financial intermediation and with other entities.Agencies of the company are located in all major cities in Slovakia and their total number amounts to 29. Thecompany has currently 440.000 clients.AmslicoThe insurance company of Amslico has been successfully operating in the Slovak insurance market as long asfrom 1995. The insurance company offers wide spectrum of life and accident insurance products, it has a conservativecharacter and shows stable economic results. Its investment strategy ensures high yields and the company has beenfulfilling its obligations towards its clients on the long-term basis.The insurance company of Amslico is a synonym of financial safety and professionalism.Amslico is a 100% subsidiary of Alico.* Source: Slovak Insurance Association, Statistics under the National Bank of Slovakia17