SIGNAL IDUNA Group 2003

Growth above average

Dortmund / Hamburg. The SIGNAL IDUNA Group, Dortmund / Hamburg, looks back on a successful business year in 2003. SIGNAL IDUNA increased the total sales outcome by 22.2 per cent. This is the best sales outcome that the SIGNAL IDUNA Group has ever achieved so far. During the first four months of the business year 2004, this development has been continued with an increase of eight per cent. In the insurance segment, the Group has achieved a revenue from contributions on the level of around EUR 4.3 billion. This corresponds to a growth of 5.1 per cent. This way, the Group has won market shares. Noticeably weaker than with the contributions was the increase of expenditures for insured events (gross) - these increased by three per cent. The administration costs could be decreased by EUR 30.9 million or by ten per cent. "Five years after the existence of the group of companies under unified control, the synergy effects are clearly noticeable. Our growth is greater than the average in our industry, costs are reduced", says the Chairman of the Board, Reinhold Schulte.

The capital investments of the Group (including affiliated financial companies) increased to approx. EUR 33 billion. Net earnings from capital investments of the insurance companies of the Group which exceeded the previous year's result by 30.7 per cent, amount to EUR 1.5 billion. The net interest amounted to 5.7 per cent. Also in the business year 2003, all companies from the Groups waived taking advantage of the options specified in § 341 b of the German Commercial Code. This way, SIGNAL IDUNA still continues to show no hidden expenses.

A strong growth in the assets with a clear improvement of the earnings: this is what is characteristic for the 2003 situation of the SIGNAL Krankenversicherung a.G., founded in 1907 by the craft. The revenue from the contributions noted a strong increase by 6.2 per cent. With 1.8 million insured people and EUR 1.8 billion revenue from contributions, SIGNAL Kranken is the fourth largest enterprise for private health insurance in Germany.

A vigorous development has been noted by the life-insurance enterprises of the SIGNAL IDUNA Group, where the contributions increased by around four per cent up to EUR 1.5 billion. The fact that the legislator strengthened the company pension scheme, provided for a quick development of the SIGNAL IDUNA pension fund: it takes care of 70,678 contracts with a yearly contribution of EUR 50 million by December 31, 2003. With contributions amounting to more than one billion EUR, also the composite area of SIGNAL IDUNA gains more and more in importance. With a moderate claims experience, a higher-than-average growth in the contributions of 4.8 per cent could be achieved.

The company SIGNAL IDUNA Asset Management GmbH, founded on March 28, 2003, combines the whole portfolio management as well as the marketing and the sales support for all financial products.
Since November 2003, the Group has possessed an electronic bank platform, operated by the CONRAD HINRICH DONNER BANK AG, through which all bank services and financial products can be accessed via the Internet. The affiliated financial companies of the Group include apart from SIGNAL IDUNA Asset Management GmbH also the CONRAD HINRICH DONNER BANK AG, the HANSAINVEST Hanseatische Investment GmbH and the SIGNAL IDUNA Bauspar AG.

In 2003, the SIGNAL IDUNA Group has extended its sales structure by 97 additional agencies. Overall, 4,686 agencies operate for the company.

At present, SIGNAL IDUNA takes care of round 10.6 million customers and contracts in the insurance segment.

The Group employs round 12,700 employees in internal and external services, including 471 apprentices. Compared with the previous year, SIGNAL IDUNA trained 57 additional apprentices and this way, against the background of few apprenticeship places, opens a professional perspective for young people.  

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