for everything valuable to you
DESCRIPTION
FOR EVERYTHING VALUABLE TO YOU. Press conference Jahorina osiguranje ad. Dr Miroslav Miskic, General Manager "Jahorina osiguranje" ad Pale – RS/BiH. Banja Luka , April 18, 201 2. Insurance market in BH. (*) – evaluation according to M MF and Global Finance. - PowerPoint PPT PresentationTRANSCRIPT
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FOR EVERYTHING VALUABLE TO YOU...
Press conferencePress conference
Jahorina osiguranje adJahorina osiguranje ad
Dr Miroslav Miskic,
General Manager "Jahorina osiguranje" ad Pale – RS/BiH
Banja Luka , April 18, 2012
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Insurance market in BH
Macroeconomic indicators 2009 2010
Population (millions) 3,84 * 3,84 *
GDP (BAM billions) 24,0 25,2
GDP per capita (BAM) 6.250 6.560
Growth of real GDP, % change -3,1 0,5
Unemployment rate 42% 42%
Inflation rate -0,4 2,4
Rating: Standard & Poor's: B+/Stable/B
1 EUR = 1,95583 BAM(*) – evaluation according to MMF and Global Finance
- Total share of insurance (share of annual premium per capita) in Bosnia and Herzegovina in 2010 amounted approximately 63 EUR
- In comparison with approximately 75 EUR in Serbia
- And with over 2.500 EUR in 15 EU countries
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ABOUT JAHORINA OSIGURANJE
• "JAHORINA OSIGURANJE" AD Pale, established on August 11, 1992 as a mixed owned joint stock company.
• As of September 02, 2002 registered as a joint stock company with legal and natural entities as founders.
• As of January 20, 2012 Jahorina osiguranje ad is 100% owned by Vienna Insurance Group
• Insurance company „Jahorina osiguranje“ а.d. has been registered for following groups of business activities:
66030 Other insurance 66010 Life insurance (from IQ 2010) 67200 Auxiliary activities for insurance.
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ABOUT JAHORINA OSIGURANJE
• „Jahorina osiguranje“ a.d. Pale operates at entire territory of Bosnia and Herzegovina.
• Business network comprises 8 branch offices with over 40 local offices and field offices throughout BH.
• Company is founder and owner of „Jahorina auto“ DOO, with capital share of 100%.
• „Jahorina auto“ DOO is specialized for vehicle technical checkup services and has widespread network of 30 stations for technical checkup of vehicles in all Republic Srpska.
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ABOUT JAHORINA OSIGURANJE
Since 2002, the Company has Certificate of Quality Management System ISO 9001 : 2000, given by RW
TÜV Essen
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JAHORINA AT THE BH MARKET
- Leading company – absolute leader in RS, progressive growth in FBHLeading company – absolute leader in RS, progressive growth in FBH
- Growth of market share of Jahorina osiguranje ad in BH is constant in last Growth of market share of Jahorina osiguranje ad in BH is constant in last years years
- Jahorina osiguranje ad Jahorina osiguranje ad was the first in RS at the end of was the first in RS at the end of 20112011 with 15,9% of with 15,9% of shareshare
- Takes 8Takes 8thth position on BH insurance market with 5,1% of share position on BH insurance market with 5,1% of share
- THE COMPANY VALUE exceeds 40 mill BAM (according to THE COMPANY VALUE exceeds 40 mill BAM (according to DUE DILLIGANCE DUE DILLIGANCE E&YE&Y evaluation evaluation))
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JAHORINA in 2011
- Total income of the Company Total income of the Company 30,8 MIL30,8 MILL BAML BAM
- Expenditures in 2011 amounted Expenditures in 2011 amounted 30.2 MIL30.2 MILl BAMl BAM
- 24,5 MILL BAM of premium was invoiced in 2024,5 MILL BAM of premium was invoiced in 201111, and collected over 23, 1 , and collected over 23, 1 MILL BAMMILL BAM
- We paid We paid 88,,22 MIL MILLL BAM forBAM for 33765765 claims in 2011 (claims in 2011 (88,,33 mil mill BAM forl BAM for 3 3558558 claimsclaims in in 20102010))
- Profit was Profit was 555454.000 .000 BAM in 2011BAM in 2011
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JAHORINA TODAY
- We have 215 employeesWe have 215 employees
- We sold We sold 2517 2517 risk packages, as a new productrisk packages, as a new product
- We insured approximately We insured approximately 65.000 65.000 motor vehicles against liabilitymotor vehicles against liability
- Casco insurance of approximately Casco insurance of approximately 2.800 2.800 vehiclesvehicles
- Approximately 1.020 life insurance policiesApproximately 1.020 life insurance policies
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- Achieve long term cumulative growth of premium and Achieve long term cumulative growth of premium and incomes (ultimate goal)incomes (ultimate goal)
- Continuous training and development of young talents Continuous training and development of young talents
- Employment of experienced professionalsEmployment of experienced professionals
- Investment in long term relationships with clientsInvestment in long term relationships with clients
- Efficient, fair and quick settlement of claimsEfficient, fair and quick settlement of claims
- Continuous spreading of insurance business in all aspectsContinuous spreading of insurance business in all aspects
- Adequate portfolio structure with focus on life insuranceAdequate portfolio structure with focus on life insurance..
BUSINESS STRATEGY
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Fundamental plan goals for 2012 are:
- Invoiced premium in amount of 26,7 MILL BAM
- Collected premium in amount 26,2 MILL BAM
- Expected amount of paid claims 8,5 MILL BAM
- Expenditures of conducting insurance 12,0 MILL BAM
- Expected profit 0,76 MILL BAM
- Number of permanently employed workers 249
PLAN FOR 2012
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ACHIEVED IN IQ 2012
Invoiced premium BAM % Collected
premium BAM %
MTPL 3.420.129 63,86% 3.412.402 59,66%
CASCO 539.133 10,07% 496.488 8,68%
Property other 1.225.328 22,88% 1.656.491 28,96%
Non-life total 5.184.590 96,81% 5.565.381 97,30%
Life 170.702 3,19% 154.373 2,70%
GRAND TOTAL 5.355.292 100,00% 5.719.754 100,00%
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JAHORINA IN VIG
- Jahorina osiguranje ad Jahorina osiguranje ad owned 100% by VIG since January 20, 2012owned 100% by VIG since January 20, 2012
- Extraordinary Assembly held on February 21, 2012 in TrebinjeExtraordinary Assembly held on February 21, 2012 in Trebinje
- New MANAGEMENT BOARD electedNew MANAGEMENT BOARD elected
- We are getting used to work in the great and powerful international We are getting used to work in the great and powerful international groupgroup
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CSR ACTIVITIES IN 2011
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Forthcoming activities
- Social Activity day (corporative voluntary work)Social Activity day (corporative voluntary work)
- Celebration of 20Celebration of 20thth anniversary of the Company anniversary of the Company
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THANK YOU FOR ATTENTION
THANK YOU FOR PATIENCE