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partnership we have built with Mahindra
and Mahindra, one of India’s largest
suppliers of utility vehicles. This has
helped to fi rmly establish us as
the market leader in roadside assistance.
Indeed our leadership is partly refl ected
in the 217.9% (in EUR) / 236.4% (in LC)
growth we have experienced over the
past twelve months! Mondial Assistance
India continues to develop its business
based on two fundamental principles:
an unwavering commitment to provide
customers with innovative solutions
along with quality, caring, professional
service.
-DSDQ enhanced growth and
profi t in a challenging environment
2009 was another solid performance
year for Millea Mondial. Even within
a challenging economic environment,
sales revenues climbed 62.1% (in EUR) /
38.75% (in LC) and profi tability was
further enhanced. We are proud to say
that we have maintained cumulative
profi t since our joint venture was fi rst
established in 2006. Traditional roadside
assistance services and other lines such
as inpatient assistance, our maintenance
pack program, pet insurance and the
extended warranty business contributed
to 2009 growth.
The Millea Mondial team exerted
continuous focus on keeping operating
costs down, and made specifi c efforts
to reduce operating platforms and
telecommunications costs.
In an effort to further enhance our
quality commitment to customers,
we established a second operations
centre. This initiative has resolved
capacity restraints due to the rapid
expansion of the business, and has
allowed us to create a disaster
recovery facility.
6LQJDSRUH increased dynamics
in travel insurance and roadside
assistance
Our Singapore entity achieved a 13.1%
(in EUR) / 9.7% (in LC) growth in sales,
an outstanding result given the
nature of the operating environment.
It can be directly attributed to the
investment in innovative e-commerce
travel insurance products, and to
the expansion of our distribution
into general insurance as a means
to provide roadside assistance
services.
7KDLODQG slow growth but
solid returns
As it was for many other countries,
2009 was an unsettling and challenging
year for Thailand. The market was
initially affected by the negative impact
of the global economic crisis; however,
the year and the market closed on
a more positive note, with a 21.5%
(in EUR) / 19.6% (in LC) growth. Our
Thai business continued its vigilance
in relation to costs, thereby enabling
the entity to report strong levels of
profi tability for the year!
EUR: euros / LC: local currency.
:RUNLQJWRJHWKHUWRFDUHIRU\RX
+17.9%
IN TURNOVER
ANNUAL REPORT 2009 / Mondial Assistance 19