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The Group increased its market share in the Nordic countries
through pan-European automobile manufacturer contracts,
and by selling travel insurance products online through low-
cost airlines.
MEDITERRANEAN EUROPE
With a stronger offer in healthcare, e-commerce, auto-
motive partnerships and new services, Group entities -
France, Greece, Italy, Portugal, Spain and Turkey - in this
region performed well in 2004.
French entities register steady growth
France posted strong growth in all business lines and companies
in 2004, and continued to apply strict cost containment measures.
Regulations for the French insurance industry changed in 2004,
resulting in a separation of the service and insurance activities,
and requiring that all processes be adapted accordingly.
In the automotive and insurance sectors, we renewed major
contracts for longer periods, thereby confirming our clients’ trust
in us and their desire to be our partners. Mondial Assistance
France again proved its innovation capacities through the launch
of a retirement service, car warranty assistance for insurers and
new health services. E-commerce flourished in the travel sector
where Elvia France launched on-line subscriber services for
individuals. France Secours developed new services for mutual
insurance companies, signed new contracts with long and
short-term rental car companies, and began commercialising
specific telematics solutions for automotive manufacturers.
Our French tele-assistance and tele-security activities also
registered steady growth.
Enhanced healthcare services and e-commerce
bolster sales in Italy
Our Italian business unit posted very strong turnover growth
and exceeded its sales objectives, mainly due to on-line travel
insurance products. It expanded its healthcare offer by launching
tele-assistance and tele-medicine for those recovering after an
accident. And the unit’s e-commerce business accelerated when
new contracts were signed with tour operators and low-cost airlines.
Travel assistance drives development in Spain
Spain also posted strong growth in its traditional business,
particularly in travel assistance. Together with a long time travel
partner, a new range of travel protection products was designed
and launched for different market segments. The company
also created a new business model for the launch of its health
assistance services and finished preparations for their
implementation in 2005.
Portuguese business expands with new clients and
services across all sectors
Our Portuguese entity showed strong growth in the insurance
and automotive sectors thanks to both new client wins and
product innovation. New assistance services such as a second
medical opinion and medical orientation were launched. In
addition, the company successfully introduced property assistance.
Focus on automotive partnerships consolidates
Greek market presence
Our Greek entity consolidated its market position and pursued
its developments with new partners, especially in the automotive
sector. The subsidiary also initiated business in Cyprus, parti-
cularly with automotive and travel insurance offers.
CRM development in Turkey
The Turkish market, although still suffering from terrorist
actions, is developing quickly. A key development area for the
Turkish entity was its CRM service offer.
All in all, 2004 was a good year for almost all our worldwide
entities which consolidated their developments, especially in
healthcare services. This allowed the Group to reinforce its
position as global market leader and is an excellent basis to
continue its growth.
Subsidiaries continued to
benefit from Group synergies
and accelerated their develop-
ment in most markets. ”
“