The "Team" group life insurance offered by Commercial Union Poland has been awarded the Gdansk Gold Prize in a competition for the best financial product in the insurance category.
The "Team" group life insurance offered by Commercial Union Poland has been awarded the Gdansk Gold Prize in a competition for the best financial product in the insurance category. The competition was organised under the auspices of the National Bank of Poland and the Polish Insurance Chamber. The award ceremony took place on 7 October 2002 during the Baltic Economic Forum Gala in Gdansk. The competition jury pointed out the wide range of opportunities available for adjusting the "Team" group insurance to the requirements of each client.
In 1998 CU received a Gold Prize for their "Graduate" juvenile life insurance and one year later, an honourable mention for their "Plus" universal insurance in this Gold Prize competition.
"I am pleased every time we are singled out as being an insurance company that offers modern and flexible services. These titles and medals send an important message to our present and future clients," said Jaroslaw Myjak, Chief Executive of Commercial Union Poland Group.
The "Team" group life insurance was introduced onto the market in 1999. It was awarded the European Medal by the European Integration Committee Office and the Business Centre Club in March 2001. The "Team" insurance is designed for groups of at least 3 people, therefore mainly for small and medium-sized businesses. It combines a wide range of insurance protection (life plus numerous additional options) and savings options for additional retirement pension plans. The "Team" policies make up the largest share of over 10,000 group policies hitherto issued by CU.
CU Poland Life Insurance Company has been operating since 1992 and since 1994 it has become the leader of individual life insurance market in Poland. According to the data for the first quarter of 2002, CU Life's Polish market share in individual life insurance amounted to 34.1 percent. Its group insurance market share was 3.9 percent (in second place), and its share of the entire life insurance market was 18.4 percent (also in second place). To date, CU has issued over 1,600,000 individual life policies and over 10,000 group ones. Group policies cover approx. 170,000 individuals. In 2001 CU Life collected gross premiums amounting to 1.7 billion zlotys and its net profit was 193.3 million zlotys. In the first half of 2002 its gross premium amounted to 878 million zlotys and its net profit was 122 million zlotys.
The CU Poland Group (http://www.cu.com.pl) services over 3 million clients and it manages assets of over 14 billion zlotys. In addition to life insurance, the CU Group also offers a pension fund, property insurance for individual clients and institutions, unit trusts (mutual funds), asset management and employee pension programmes. CU Poland is part of Aviva Group.
For further information please contact:
Grazyna Goslings, CU Polska Group Company Communications
Director, Tel. (22) 653 98 86,
Fax (22) 653 96 37, e-mail: bohdan_bialorucki@cu.com.pl.
Additional information about the Commercial Union Polska Group can also be found on our web page http://www.cu.com.pl