What are the average placements in HMR
Result 2020: 13.1 percent increase in premiums - HanseMerkur will continue to be crisis-proof and high-growth in 2020
Good start to the first quarter of 2021: new business increased by 8.6 percent above the previous year's result
Gross premium income will rise to just under 2.6 billion euros in 2020. More than 11,000 new fully insured persons in the main business area of health and care. Customer base grows to 11.3 million. Net return in health and life insurance of 4.3 percent.
- Gross premium income increases by 13.1 percent to around 2.6 billion euros
- New business production across all sales channels increased again by 7.7 percent
- Gross profit increases by 4.4 percent and is at a record level of EUR 383.3 million
- Investment portfolio exceeds EUR 10 billion threshold
- The net return on all investments is 4.2 percent
- Investment income rises 17.3 percent to EUR 440 million
- Group net income after taxes over 100 million euros for the first time
- Group equity rises to over EUR 800 million
- HanseMerkur's solvency ratio in Q4 / 2020 is 287 percent
- Cooperation with Tchibo in health and property insurance
- Business areaHealth and caregrows by 5.1 percent to 1,683.6 million euros with over 21,000 new customers / Corona causes additional charges of 22.8 million euros
- Rewards in the business areaRisk and retirement provision increase by 80.0 percent with strong single-premium business
- Business areaTravel and leisurelost 80 million euros or 33.3 percent of the premiums in the tourism crisis year and closed at the level of 2013
- HanseMerkur Reiseversicherung AG and tourVERS contract agent remain reliable partners in insolvency insurance / claims expenses due to corona: 10.5 million euros
- Asset management subsidiaryHM Trust AG(HMT) manages assets of 11.2 billion euros
- Investments of the real estate subsidiaryHanseMerkur Grundbesitz AG (HMG)in residential and office properties reach 3.6 billion euros
- HMT andHMG align assets more and more sustainably and signPrinciples for Responsible Investment/ HanseMerkur Group develops sustainability strategy
- Portfolio grows by 500,000 policyholders to 11.3 million customers
- HanseMerkur Group creates 60 new jobs and waives operational dismissals until 2023 / works agreement "external work" concluded
- First quarter of 2021: new business, at 8.6 percent, again increased above the previous year's figure
Hamburg, April 20, 2021. Even in the first year of the pandemic, the HanseMerkur Group was crisis-proof and showing strong growth. The gross premium income rose by 13.1 percent (industry: + 1.2%) or EUR 298.7 million to EUR 2,587.2 million. Multi-channel sales were able to generate new business thanks to a transformation towards digital and hybrid forms of insurance advice and brokerage and the introduction of the online tool without media disruptionAdvice navigator also increase by 7.7 percent for broker sales. This resulted especially in the business areasHealth and care(+ 5.1%) andRisk and retirement planning(+ 80.0%) to above-average increases in the market. The consumer goods and trading company also became a new sales partnerTchibowon. The product range ontchibo.deranges from dental and other supplementary health insurance to property insurance and special solutions for pets. In addition to the premium income, HanseMerkur was also able to further strengthen its financial substance. The unconsolidated net income for the year after taxes, at EUR 113.2 million, exceeded the EUR 100 million threshold for the first time. The group's equity also reached a new high of EUR 804.0 million with a plus of 16.6 percent.
"Even in the first Corona year, our company is crisis-proof and showing strong growth," said Eberhard Sautter, CEO of HanseMerkur, at the online balance sheet press conference in Hamburg. “With the decision to hedge the assets as early as February 2020, it was possible to achieve a net return in health and life insurance that was above the market average. Flanked by low administrative and closing costs, income and assets were further strengthened. Nevertheless, the uncertainty was seldom as great as in the second year of the pandemic, ”Sautter continued. “Unfortunately, even one year after the outbreak of the infection, we are far deeper in the crisis than assumed at the beginning of the year. This situation, coupled with the political uncertainties in the federal election year, makes it difficult for us to make a valid forecast for the year 2021. Nevertheless, we are sticking to our medium-term goal of sustainable premium income of over 3 billion euros with a stable annual surplus after taxes of over 100 million euros and a placement among the top 10 companies in private health insurance (PKV) on the 150th anniversary of HanseMerkur in the year 2025 ”, said the CEO.
The portfolio of capital investments (€ 11,088.4 million) exceeded the € 10 billion threshold for the first time. The net return on investments reached a new record at 4.2 percent. The investment result also increased by 17.3 percent to EUR 439.7 million. The financial strength of the HanseMerkur Group (SCR ratio Q4 / 2020: 287%) is also reflected in the good solvency ratios of the individual companiesHanseMerkur Health Insurance AGwith 516 percent.
In the main business areaHealth and carepremium income rose by 5.1 percent (industry: + 3.8%) to 1,683.6 million euros. Once again, HanseMerkur recorded the second-highest net increase in private health insurance with over 11,000 new fully insured persons. In addition, there were over 10,000 new customers in the supplementary insurance. In the business areaRisk and retirement provision Premium income increased significantly by 80.0 percent (industry: -0.4%) due to the significant increase in single premiums (+ € 296.9 million) and was quoted at € 663.4 million. HanseMerkur, as a market leader in the tourist insurance industry, was also badly affected by the unprecedented slump in the travel industry. As a result, premium income in the business segment fellTravel and leisureCorona-related by 33.3 percent to 159.7 million euros, which corresponds to the level of 2013. Despite a claims expenditure of 10.5 million euros in the insolvency insurance, HanseMerkur and the agent wanttourVERS to continue to support their tourist partners as partners in the deposit insurance. In the business areaDamage and accidentPremium growth of 2.3 percent (industry: 2.1%) and premium income of EUR 80.5 million were achieved. In the business areaAsset managementmanaged theHanseMerkur Trust AGassets of 11.2 billion euros. The real estate subsidiaryHanseMerkur Grundbesitz AGhas invested more than 3.6 billion euros in residential and office properties since it was founded in 2014, including 1.1 billion euros in 2020 alone.
HanseMerkur's customer base rose by around 500,000 to 11.3 million insured persons. At the end of 2020, the HanseMerkur Group employed 2,237 office and field staff as well as full-time agents. This corresponds to an increase in staff of 60 positions in the year under review. In order to send a signal to the workforce regarding continuity, reliability and future prospects, especially in uncertain times, the management and works council have extended the “Alliance for Work and Employment”. This means that there will be no redundancies for operational reasons until 2023. In addition, the increasing desire of employees for more flexible working hours and locations was met. The “company agreement for extra-company work” as a set of rules for teleworking and mobile working now offers better options for reconciling work and family.
HanseMerkur develops sustainability strategy
Responsible entrepreneurial action is part of the DNA of HanseMerkur as a mutual insurance association that is committed to the code of the honorable businessman and the community spirit about thehand in hand-The guiding principle of the company comes to the fore. As a Good Corporate Citizen, in 2021 for the 40th year already, by awarding the oldest German social award, the company supports and honors associations and initiatives that do outstanding work in the field of child and youth protection. TheHanseMerkur Prize for Child Protectionwas given to five winners nationwide in 2020 according to the AHA rules due to the corona and was later posted on the web as an overall appraisal in the form of a nearly one-hour film ("Pandemic Edition"). The successful work as a reliable partner for families in precarious life situations is also reflected in market research. In the "Social Score", HanseMerkur was ranked among the "200 most sustainable companies in Germany" with a value of 88.9 (out of 100) among the top 3 companies in the insurance industry (star / Statista,12/2020).
However, it is not only its social commitment that shapes the reliable management of HanseMerkur, as the Sustainability Report 2020, which will appear in June and which on 114 pages highlights 20 sustainability topics in different fields of action. Especially the group's asset managers whoHanseMerkur Trust AG (HMT)andHanseMerkur Grundbesitz AG (HMG)drive the development towards a more sustainable transformation. Both have the six United Nations Principles on Responsible Investment (Principles for Responsible Investment, UN PRI)signed and thus made a commitment to a transparently verifiable sustainability orientation. Since ESG (Environment, Social, Governance) criteria increasingly influence the intrinsic value of financial commitments, theHMT ESG special and retail fund launched. The ESG retail funds are theEurosifTransparency code and were awarded the sustainability seal of theSustainable Investment Forum (FNG)awarded, the leading quality standard for sustainable finance in the German financial market. The sustainability data is obtained fromHanseMerkur Trust AGon a daily basis fromMSCI ESG,one of the leading ESG rating agencies. Target ofHMTand HMG is to support your stakeholders under the motto “Best in Transition” in helping to shape the change in society and the real economy towards a low-carbon and resource-saving future.
Under this premise, a sustainability process was set up for the entire insurance group in 2020, which sees dynamic change as an opportunity, offers space for innovation and creates added value for everyone. By establishing an explicit sustainability strategy, the ESG criteria of HanseMerkur are to be consistently further developed and in line with theSustainable Development Goals (SDGs) of the United Nations. Always with the goal of a more sustainable way of lifehand in handwith customers, partners and employees.
business developmentJanuary - March 2021
New business production across all sales channels increased by 8.6 percent in the first quarter of 2021 compared to the very good previous year's result. In the main business areaHealth and carethe premium adjustment of 3.4 percent over the total portfolio turned out to be extremely moderate in an industry comparison. The premium income rose by 5.3 percent, not least due to the acquisition of over 3,000 new fully insured persons. The additional dental tariffs of HanseMerkur Krankenversicherung AG (HMK) and the online subsidiary BD24 Berlin Direkt Versicherung AG (BD24) were rated byStiftung Warentest(4/2021) named the test winner for the cheapest of the best offers (HMK) and the industry leader for the best tariffs (BD24). The product componentEZHanseMerkur Kranken has been at the top of the tested private health insurance market with 244 tariff offers for the 16th year since its introduction. In the business areaRisk and retirement provisionthe profit participation was kept stable at 2.1 percent for the fifth year in a row. New business redeemed rose by 47.2 percent from 4,200 contracts to 6,181 contracts, primarily for traditional annuity insurance. In a current oneHandelsblatt / Assekurata-HanseMerkur achieved a quality rating (April 14, 2021) over one, three and five year (s) in the categories of return, risk, ability to react and risk remuneration for fund-linked pension insurance with the grade of "very good". The scope of the "Corona travel protection" was in the business areaTrip andleisureincreased again. It now also takes effect if a travel warning applies to the respective destination country at the start of the journey. HanseMerkur Reiseversicherung AG recorded a premium erosion of 42.9 percent due to the corona. The online travel insurer BD24 was further positioned as a multi-line insurer: The service portfolio was expanded to include three additional dental tariffs as well as a cat surgery and health insurance. In the business areaDamage and accidentthe contributions rose by 9.2 percent. A significant increase in premiums was recorded in the property and motor vehicle sectors. A new moped and e-scooter insurance was introduced, which also covers damage to the battery in bicycles with electric drives, e-scooters and e-scooters. And inASCORE scoringHanseMerkur received the best possible rating for “animal owner liability dog” (4/2021).
In the main business area of health and care, premium income in direct business (saG) rose by EUR 81.8 million or 5.1 percent (sector: + 3.8%) to EUR 1,683.6 million.
In theHanseMerkur health insurance AG (HMK)the contributions in the saG increased by 5.8 percent to 1,466.0 million euros. The net increase in the number of people insured in comprehensive health insurance was 11,058. In addition, 10,247 people were gained in supplementary insurance. At the end of 2020, 1,539,119 people were insured with HanseMerkur, 275,885 of them with full insurance and 1,263,234 with additional protection. HMK's share of the new business market in full health insurance has increased almost tenfold since 2002 (1.3%) and was 12.4% in the year under review. The administrative costs as a percentage of the earned contribution are at 1.9 percent, an all-time low. Equity was increased by EUR 20.0 million to EUR 279.0 million in 2020, which increased the equity ratio to 19.0 percent (2019: 18.7%). At 4.3 percent, HMK achieved one of the best net returns in the industry. If you look at the average of the last ten years, HMK is at the top of the private health insurance market with a return on investments of 4.13 percent. With its low premium adjustment as of January 1, 2021 of 3.4 percent over the total portfolio, HanseMerkur Kranken is well below the industry trend. The corona-related additional expenses amounted to 22.8 million euros in the reporting year - without taking into account the association levy. At HMK, 2,013 fully insured persons had COVID-19. Of these, 426 had to be hospitalized and 56 had to be ventilated in intensive care. 44 customers between the ages of 50 and 90 have died; their average age was 77.0 years.
Three other companies are part of the business areaHealth and care.
TheHanseMerkur Speziale Krankenversicherung AGoperates glasses insurance in Germany and Austria exclusively with Fielmann AG. At the end of 2020, 7,562,835 customers had taken out at least one of these types of insurance to cover their ametropia. HanseMerkur has over 8.8 million contracts in its portfolio. Premium income rose by 2.0 percent to EUR 168.7 million.
TheHanseMerkur mutual health insurance
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