Mondial Assistance Annual Report 2009


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Mondial Assistance Annual Report 2009

  1. 1. Helping peoplein 2009ANNUAL REPORT
  2. 2. ContentsGroup history .................................................................................................................. 01Editorial ........................................................................................................................... 02Key figures ...................................................................................................................... 04Milestones ....................................................................................................................... 05Lines of business ...............................................................06Travel ............................................................................................................................... 08Auto ................................................................................................................................ 10Health, Life and Home ..................................................................................................... 12International presence ......................................................14We cover the world ......................................................................................................... 16Asia-Pacific ..................................................................................................................... 18Americas ......................................................................................................................... 20Europe, the Middle East and Africa ................................................................................. 21Financial results.................................................................26Review of Operations for the year 2009 ........................................................................... 28Financial statements of Mondial Assistance Group .......................................................... 30Business years 2008 - 2009 ............................................................................................ 35 Group structure as of 31, December 2009 Groupe ACIF* Allianz France 50% 50% * ACIF: Allianz Compagnia Italiana Finanziamenti S.p.A.
  3. 3. Group historyIn1950 when traveling became an increasingly popular pastime, a team of forward thinkingSwiss business pioneers created Elvia Travel Insurance. This was a symbolic date for thesmall company that was to become, much later, the group that we are today.Why? Because it marked the beginning of our story about helping people, which is atthe very heart of everything we do.Our helping others reached a new level twenty-four years later in 1974, when SACNAS-Mondial Assistance was founded in France. The founding of this new company paralleledthe development of the assistance business, which, in addition to travel insurance, includedroadside, medical and repatriation assistance. In 1979 AGF (formally Allianz France since2009) became a shareholder of Mondial Assistance.Elvia and Mondial Assistance remained two separate entities in the 80s and 90s.During this 20-year period, we accompanied our corporate clients through their ownchanges. Where they grew geographically, so did we, developing first in Europe and thengradually throughout the rest of the world. In 1995, Elvia joined Germany’s Allianz Group.In 2000 Elvia Travel Insurance and SACNAS Mondial Assistance successfully mergedand created our group as we know it today.This coming together represented nearly 80 years of combined experience and know-how.Now joined as one, these two leaders in their respective fields became quite naturallythe leading world player in assistance, travel insurance and customer services.In April of the same year we acquired World Access, the American leader in TravelInsurance. And one year later Worldcare in Australia joined our group, further reinforcing ourportfolio of top performing companies. We created our Chinese business unit in April 2003.2006 was a much-awaited year and represented a long-term strategic step for us. It was theyear we launched a new brand identity and our values worldwide. This multi-layered launchdemonstrated, among other things, our dedication to you and your well-being, and reflectedour rich, multi-cultural diversity.2007 was quite simply a landmark year for the group. On January 1st, our four Frenchcompanies - Mondial Assistance, France Secours, Elvia and SSC - merged to form MondialAssistance France, a unique entity and brand. In doing so, we confirmed and strengthenedour position in France. And true to our goal to grow internationally, we opened officesin Mexico and India.We also acquired Medvantis, a medical call-centre in Switzerland.We registered our Russian office in 2007 and began operations there on March 1st, 2008.Since January 1st, 2008 we have been operating under our unique brand name and speakwith a single voice. Across all 5 continents, we feel right at home in the 28 differentcountries where we are present. When we say that wherever you go, we are always closeby, looking out for you, we really mean it! We really are everywhere, making sure you haveour help, anytime, anywhere.You – our customers, and other stakeholders – were, are and always will be whatour business is all about.
  4. 4. OUR BRAND VALUES Worldwide leader in assistance services and travel insurance A PASSION FOR PEOPLE A GLOBAL COMMUNITY GOING BEYOND EXPECTATIONS We are people who care about people. We are as diverse and widespread as We’re never satisfied to just wait for The first thing on our minds every day you are. In fact, our strength lies in our your call. Each of you and your custo- is your well-being. And to make sure diversity – the essence of our global mers is different. For us, part of helping we are getting it right, we listen to you community. Have you ever wondered you is anticipating what you need be- first to understand what you need. This why you can reach us and rely on us fore you call; and offering solutions that open dialogue is second nature to us. anytime, anywhere? It’s simple. Because exceed your expectations after you call. Why? Simply because we really do we are everywhere at all times. Our vast Solutions that surprise, innovate, and care. An integral part of our job is ac- human and technological connections reassure above and beyond the call of ting on our passion for people. At the and resources make this possible. You duty. When we put our proactivity to end of the day, it’s about helping you, can point to a location on the globe and work, what we’re really doing is wor- making you feel special, and reinforcing chances are, we’ve helped someone king to improve the way we serve you, our relationship with you. there. continuously.
  5. 5. 4,000 people assisted every hour 550,000 text messages exchanged“Helping people,anytime, anywhere” 42 million calls handledEXPERTISE AT YOUR SERVICE TO EARN IT EVERYDAY 15 million cases handledWe do not keep our wealth of skills Trust has to be earned. We know that.and expertise for ourselves but make Whether it’s towards a relative, a friendthem available to you, when, where or a customer, we can win your trustand how you need them. Whether you only one way – by showing you that weor your customers need the full story, are dedicated, honest and reliable everyor just the answer, our years of profes- single day. Our goal is to make sure thatsionalism are the foundation of all our each one of your lives is safer, simplerbusiness relationships. We have built a and more secure. To do this, earningreputation of excellence, and are proud your trust comes first. Trust truly is atthat you are a part of it. the heart of what we do. ANNUAL REPORT 2009 / Mondial Assistance 01
  6. 6. EDITORIAL Of course 2009 was a very difficult year. Nevertheless, when faced with the different financial and market challenges, we demonstrated our ability to adapt to the situation at hand and took full advantage of the many rich resources within our international group and within Allianz. Our values in action. During the ensuing crisis of 2009, being Proactive, Connected and Professional helped us meet our objectives for profitable growth. We achieved +4.8% in revenue Rémi Grenier Ulrich Delius Ida Luka-Lognoné growth (+5.4% in real terms) and maintained our level of profitability. Throughout the year, Trust, our core value, was the foundation on which we nurtured relations with customers, staff members and other stakeholders. These factors combined enabled us to reconfirm our global leadership position in assistance and travel insurance. In our unfailing commitment to being Jonathan Ansell Didier Lebret Laurence Maurice Professional, we relied on several of our historic activities to generate growth. Online tourism had another stellar year (+23%), while B2C grew by 10%, driving an overall +4% growth in travel. Health and lifecare had strong Chairman: Chairman: double digit growth (+18%) while President: Jean-Philippe Thierry Christof Mascher property and other excelled at nearly Rémi Grenier Vice President: Vice President: (+30%). Due to the depressed Members: Detlev Bremkamp Detlev Bremkamp automotive market, there was Jonathan Ansell Vice President Vice President no growth in roadside assistance. Ulrich Delius Delegate: Delegate: Didier Lebret François Thomazeau François Thomazeau Sharing knowledge, expertise Ida Luka-Lognoné Members: Members: and innovations Laurence Maurice Dr Manfred Knof Dr Manfred Knof Major growth drivers in our mature Dr Walter Gutberlet Dr Walter Gutberlet or saturated markets can be attributed02 Mondial Assistance / ANNUAL REPORT 2009
  7. 7. “Together with the 10,231 staff members that make upour group, we are proud to contribute to a universal cause, whichperfectly illustrates how and to what extent we care about others.Our partnership with MASSIVEGOOD is an extension of our mission,commitment to and passion for helping people anytime, anywhere.”to experience sharing, transferring at +9%, +11% and +12% respectively. experience sharing, but also toskills and continuous innovation. We also successfully entered the Middle our people strategy that will makeWhether for operations or sales, East airline market with the signing the difference. By recognisingwe demonstrated our innovative of new contracts for our e-commerce and relying on the rich expertisespirit by proposing services adapted travel insurance solutions. Reflecting and talents that comprise our group,to the new technologies and lifestyle our “Connected” value, this new stage we will be able to pursue our growth,trends of our increasingly mobile in our geographical expansion not only realise our 2015 ambition and betterworld. These include Smartphone strengthens our relations with global serve our customers.applications for roadside assistance, customers but also demonstrates a firmSMS communication of intervention commitment to partners who wish torequirements to providers, travel offer top quality services in every cornerinsurance 2.0, or policies tailored of the travel customers’ specific profiles,and a financial offer built on the Our commitment to Caringconcept of “banking for life”. Herein, A major highlight marked 2009 –Proactive is expressed in its fullest the signing of our global partnershipdimension – sharing innovations agreement with MASSIVEGOOD,so that success reproduces across an innovative humanitarian fundraising Christof Mascherthe group, country to country, initiative, to be their strategic technicalbusiness unit to business unit, but partner worldwide. We are now Chairman of Mondial Assistance SASalso with Allianz sister companies. concretely contributing to Supervisory Board MASSIVEGOOD’s combat to fight COO of Allianz GroupWe are truly international malaria, HIV/AIDS and tuberculosis by Member of the Boardand growing! providing a dedicated, 24/7 multilingual of Management of Allianz SEWe reaffirmed our international weight call platform to MASSIVEGOOD 2009 with strong growth in theAmericas (+17% overall with +22% With an eye to the futurein the US and +7.6% in Brazil), and in 2010 is proving to be anotherAsia Pacific (+18% overall with +13% challenging year due to continued straingrowth in Australia). Revenues remained and economic difficulties in certainconcentrated in Europe, where, although regions and market sectors. In this Rémi Grenieroverall growth was +2%, France, Spain context, it is our commitment to President of Mondialand Switzerland reported strong growth continuous innovation, knowledge and Assistance SAS ANNUAL REPORT 2009 / Mondial Assistance 03
  8. 8. KEY FIGURES 2009 figures in million euros in million euros 2009 1,673 2009 56.0 2008 1,597 2008 62.6 2007 1,508 2007 57.1 in points number of people 2009 95.9 2009 10,231 2008 94.9 2008 9,817 2007 95.6 2007 9,356 per zone per lines of business by market 1.8% 7% Corporate, other & consolidation 20.3% Other markets 14% Auto Americas 37% 10.6% Auto 47% Travel Asia Pacific 40% 39% Tourism 16% Finance 67.3% Europe Health, Life & Home04 Mondial Assistance / ANNUAL REPORT 2009
  9. 9. MILESTONES 2009 Milestones In Australia, Canstar Cannex awarded 5-Star Ratings to our Worldcare Travel Insurance product brand at the inaugural Australian travel insurance ratings awards. Mondial Assistance China won the Best China Special Service award, considered to be the most respected, high-end customer service offered. Our French business unit won Decision Achat magazine’s Bronze medal for its e-procurement platform, purchasing quality, innovation and supplier relationship management. Our Polish business unit was honoured with the Firma Przyjazna Klientowi award for its customer service quality Last September, Mondial Assistance signed a global and customer friendly approach. partnership with the Millennium Foundation for It also received the Przejrzysta Firma certificate, , a global health initiative that allows a recognition of the company’s financial credibility and integrity. travellers to make small financial contributions when they purchase travel services online. Collected funds combat HIV/AIDS, malaria and tuberculosis in developing countries. Mondial Assistance Netherlands won the Dutch Insurance Golden Shield award in the category Best P&C product 2009 for its new continuous travel insurance product launched in September. Our UK based subsidiary won the prestigious International Travel Insurance Journal (ITIJ) Insurer/underwriter of the year award. It also received One Star Best Company Accreditation for Best Companies 2009. AM best also affirmed Mondial Assistance’s financial strength in Q3 2009, honouring it with an “A” rating for Excellent. Our American business unit received the prestigious Silver Magellan Award in the Online Travel Services category Following the annual review held in Paris in July 2009, by US trade publication Travel Weekly. This prize was given financial rating agency Standard & Poor’s affirmed the financial for AgentMax, the travel insurance desktop application strength and stability of Mondial Assistance International, for travel agents. giving it a rating of “AA-”. It was also named Top 100 IT company by CIO magazine. This award recognizes organizations around the world that exemplify the highest level of operational and strategic excellence in information technology. ANNUAL REPORT 2009 / Mondial Assistance 05
  10. 10. Lines of business06 Mondial Assistance / ANNUAL REPORT 2009
  11. 11. 24/7365 days per year intervention 1 every 2 seconds 250 million beneficiaries
  12. 12. LINES OF BUSINESS TRAVEL 2009 world crisis hits the travel industry In 2009 the global economy endured the greatest financial crisis the world has ever known. The travel industry, among other industries, was hit very hard. Then the Swine Flu (H1N1) epidemic spread and magnified the financial crisis. According to the World Travel and Tourism Council, tourism’s share in global Gross Domestic Product declined from 9.6% to 9.3% between 2008 and 2009. Today it is common knowledge. Never players reported a decrease in their online activity represents more than 50% has the tourism industry had to weather activity, they were not nearly as affected of our overall travel insurance business! such a storm as it did in 2009. According as the offline players. to a Euromonitor survey carried out for To conclude on a more positive note, We’re committed to a clear, the World Travel Market, the number the crisis lessened as the year went on, coherent strategy of realised trips dropped by 8%, the with the travel industry even experiencing Our strategy for travel insurance is part number of consumed hotel rooms slight growth during the final quarter. of the overall strategy for Mondial by 16% and the number of issued airline Assistance. It is based on 4 main pillars: tickets by 14%. Mondial Assistance delivers top-notch performance thanks Impact on the different geographical to online leadership zones has varied: China, Southeast Asia In this critical context, Mondial Want to know what we do best? and Latin America, excluding Mexico, Assistance’s continued growth in the It’s working with you and helping weathered the crisis with either moderate Travel Insurance sector is all the more our client partners! Whether they’re growth or moderate decline, whereas remarkable. This is primarily the result a travel agent, broker, tour operator in Europe, North America, Mexico of our leadership position in online travel or online travel specialist, our goal and Russia, decline in the travel/tourism insurance sales due to the many is to provide them with innovative, industry has been more pronounced. partnerships we have established with customised and always surprising leaders in this sector. solutions so that customers will come As in the past few years, in 2009 we back time and time again. noticed similar trends occurring in sales Of all the activities impacted by the These solutions include but are not channels. There was a split between the growth in e-commerce over the past limited to insurance and protection more traditional channels and online. 10 years, Travel has clearly benefited against lost or stolen luggage, While for the first time a few online the most. The tourism online represented repatriation due to illness, medical and 27% in 2008 and 30% in 2009 of total hospital expense coverage when abroad, sales. This figure should continue to reimbursed fares when your customers grow in the years to come in all world must cancel a trip due to unforeseen regions, including the most mature events, and vehicle repair in case of +3.8% markets like the United States and a breakdown. Europe. And did you know that you can rely on us for these solutions around the clock, IN TURNOVER Very early on, Mondial Assistance around the world, 24/7? Whoever you recognised the importance of riding the are, wherever you’re from and wherever Internet wave, to the extent that in 2009 you’re going, our help is at your fingertips. and for the second consecutive year, our So, relax and put your trust in us: you can08 Mondial Assistance / ANNUAL REPORT 2009
  13. 13. 47% OF MONDIAL ASSISTANCE TURNOVERtravel worry-free and receive exactly abroad. This information includes carethe travel services you expect: quality, hygiene, equipment, illnesses• solutions for business travellers; treated and so on. Each structure• assistance solutions for holidays receives an annual evaluation visit, and abroad; our medical evaluation team regularly• leisure and sports solutions for adds new structures to the database. specific activities such as skiing, golf; In 2009, the database cited 1,451 We have a very pragmatic commercial• holiday accommodation solutions; hospitals in 529 cities in 130 countries. approach to how we manage our• Schengen zone solutions; We also assess the quality of medical international requests for tenders. We’ve• Globetrotter solutions. structures located in airports as an set up an international travel sales team efficient way to assist airline companies whose primary job is to respond to our in case of an aircraft diversion. international partners’ demands for This program, called “Inflight Medical online solutions. This team mustWhere do we truly excel in our year-by-year Support”, was launched in 2008. co-ordinate local business requirementsachievements? We would have to say Today, there are 215 evaluated airports in line with our partners’ internationalin medical assistance services. For years in our worldwide database. Only a few strategies, and sell and implement travelnow, and 2009 was no exception, we international travel players have such insurance and assistance in severalhave carried out hundreds of thousands a database at their disposal. So, if you countries. This is possible becauseof medical assistance and repatriation want that extra service, that extra of the close, transparent collaborationinterventions for our customers. quality and that extra peace of mind that exists between this team andIn 2009, that figure reached 700,000. when you travel… look no further! our different business units, our forumsYou may very well ask how we You’ve come to the right place for exchanging information and bestdo this? Well, it’s thanks to our multi- at Mondial Assistance. practices.lingual travel and medical assistancespecialists around the world who are oncall 24/7. While you rely on us, we relyon our comprehensive internationalnetwork of top-quality, certified serviceproviders and 180 international In 2009, we actively pursued deployment of Travel Insurance 2.0.correspondents. This revolutionary solution was developed internally to help generateOur medical team helps you in more increased sales in online travel insurance. It is based on a real-timeways than one. Our internationally exchange of information that makes it possible to customise a travelexperienced and qualified doctors have insurance offer according to a customer’s travel profile. After Travelevaluated hospitals and clinics in Insurance 2.0’s successful launch and deployment in the US, it is nowcountries with tourism where medical being used by our main partners in Europe, where it was introduced in 2009.coverage is questionable or inconsistent. Use of Travel Insurance 2.0 should expand greatly in other regions in 2010.Their goal? To optimise the healthcare This technology is deployed over a platform that responds to the market’syou may need with a database built most demanding criteria in terms of availability and response time. We’refrom first-hand, professional visits. committed to staying on the technological edge; so, year after year, weThis database provides our 500 doctors continue to invest in this IT platform. It’s just one of the ways that we canand medical staff with critical information stay ahead so that you can benefit the most from our increasingly wide offerabout the establishments where patients of innovative, quality products and services.are likely to be hospitalised while ANNUAL REPORT 2009 / Mondial Assistance 09
  14. 14. LINES OF BUSINESS AUTO Change and its impact on customers. At a time when new vehicle sales are still under enormous pressure, we have set our sights on the future, focusing how customer needs will evolve and how we should respond to them. Reshaped industry sets now consider their vehicle’s impact that our industry-leading, operational a new world stage on the environment. Taxes and running capabilities are delivered as efficiently We witnessed a major trend when costs will be inextricably linked to CO2 as possible. We also optimised our the 2009 global financial crisis outputs, and consequently OEMs are internal cost drivers and managed our combined with industry over-capacity: looking at alternative technologies to supply chains to ensure that we were OEMs (Original Equipment provide cars with low environmental in the best position to win new business Manufacturers) began to work with rivals impact, without compromising in an increasingly competitive, global or merged or divested to ensure ownership experience. market. Our relentless efforts paid off. longer-term survival. Fiat and Chrysler Today we are the largest supplier of came together; Volkswagen acquired Hard fought success in 2009 roadside assistance services for PSA Porsche, and GM sold Saab to Spyker. 2009 was possibly the busiest year in Europe! Our partnership with Toyota ever for our automotive sales teams. has grown to include France and Ireland; The automotive world order also As expected, OEMs revisited their we secured Honda’s business in changed. Today Toyota is the n° 1 supplier contracts to reduce their cost Scandinavia and the Nordic markets; global automotive brand, and China base, but the level of activity surpassed and we partnered with Volvo in the UK has overtaken the US as the world’s previous years. We continued to invest and Russia. largest car market. Car owners must time, money and resources to ensure 37% OF MONDIAL ASSISTANCE TURNOVER10 Mondial Assistance / ANNUAL REPORT 2009
  15. 15. 7 MILLION CASES HANDLEDCRM – Our core business A bright, green futureand key competency Today we are looking well beyondAll requests for assistance or information 2010. Shoptalk is on hybridare also an opportunity to strengthen and electric vehicles. Althoughour bond with customers. Why? invented back in the 1830s, currentBecause every connection counts. legislative and regulatory actions worldwide, and strict requirements Change is one of life’s constants,What sets us apart? We treat our for air emissions have renewed and we understand that races arecustomers – OEMs, leasing companies, development efforts in this domain. never won by standing still. Centralfleet providers, banks, insurance There is not a single car manufacturer to our ethos is a ferocious desirecompanies – with professionalism, that does not have or is about to to continually seek ways to im-respect and as individuals! This is our have a hybrid or electric vehicle prove what we do and how we do it.modus operandi and abiding philosophy. on the road. 2009 was a year of lifestyle changes and the emergenceWe cover the following services: And we’re ahead of the game. of new technologies. So we• Roadside assistance: repair and We are the first provider of roadside responded by making big towing for broken down/immobilised assistance for hybrid vehicles in Europe, investments to adapt our services vehicles. supporting Toyota Prius, Lexus hybrid, to these evolutions.• Accident Management: towing, MINI and smart electric vehicles. Our colleagues in Brazil developed replacement vehicle, car repair a Smartphone application that• Used car and extended warranty So indeed, the future looks bright allows users to request roadside programme management and green! We understand how this assistance from their iPhones,• GAP (guaranteed asset protection) technology will change our business and soon Blackberries. Customers have quick access to our assistan-• Service program management model and how customers’ expectations ce network and we can pinpoint• Telematics: GSM localisation, will evolve. We will continue to push their precise location. This ensures post-theft notification and tracking, the boundaries and help our clients that help gets to the right place the navigation, remote door unlock, to deliver the loyalty solutions that will first time and as fast as possible. remote controlled breakdown sustain their businesses. In the UK we have developed diagnosis, and concierge services bespoke branded web portals (best routes, weather, traffic, legal that allow OEM end customers assistance…) to renew warranty and assistance• Customer Relationship Management: coverage online. They can tailor telemarketing, customer surveys, the product to their lifestyle loyalty programs, lead generation and budget, and pay monthly or all at once. and event management ANNUAL REPORT 2009 / Mondial Assistance 11
  16. 16. LINES OF BUSINESS HEALTH, LIFE AND HOME Your Health, Your Life and Your Property - they matter to us. Health and Lifecare assistance is our 3rd line of business, launched several years ago. It has been growing continuously ever since. Healthcare assistance focuses specifically on your health while Lifecare is more generally concerned with daily well-being. Another dynamic year portfolio to include 14 pharma We have the right care for a sector on the rise companies for 21 prescription drug for everyone Today the world’s population programs. Today, with more and more Healthcare is increasingly mobile; people travel business units playing an active local role • Dependency. These are short more and opt for long-term stays in disease management, our credibility or long-term services to help you abroad. This requires having specific among industry players is very solid. recover if you are temporarily knowledge of local healthcare systems. dependent, or stay at home if you In 2009, we reinforced our specialised Local initiatives drive growth are permanently so. health insurance for specific mobile Our 2009 business growth can also • Personal Response Services. groups wishing to spend extended be attributed to a certain number of Being able to reach someone periods of time overseas: students, local initiatives: immediately when you’re not feeling expatriates / impatriates. Our student Demand management provides medical well is essential. So we offer state-of- insurance solutions are one such information to patient beneficiaries before the-art technological devices that example. They enjoyed steady growth, they take medical action. It is designed monitor your home and facilitate particularly in Australia, where we are to provide accurate, personalised advice communication, location and market leader and have for many years and information when hospitalisation, triggering alarms. These services engaged in numerous partnering consultation or self-medication cover 24/7 tele-assistance and activities with local universities and is unjustified. tele-medicine. schools. Student health insurance has Alzheimer’s is a two-year French • Young travellers and also been very successful in Germany. project launched early in 2009 in expatriates / impatriates. partnership with a local government We provide semi-permanent or long- In addition, with people living longer, authority. The aim is to work with term medical assistance and travel disease management is critical. 200 Alzheimer patients during the first insurance for students and employees So, in 2009 we also strengthened our year and 200 additional patients the because we know that the partnerships within the pharmaceutical second. It involves close coordination unexpected can happen anywhere. industry. We increased the number with healthcare providers, patients • Disease Management and Patient of disease management programs and their families. Support. If you suffer from a chronic to 30, and extended our partnership Orphan disease initiatives were disease, impairment, abnormal launched with several European pharma functioning, or belong to a specific risk companies. The aim? To make life easier group (tobacco, memory ageing…), 16% OF MONDIAL for patients by setting up healthcare and logistics networks for managing drug supplies and administration then you may fully benefit from these assistance services. • … and Nurse Triage, Employee Health around the world so that patients no Assistance, Medical counselling, ASSISTANCE longer have to suffer the uncertainty Third Party Health Administration, TURNOVER of not being able to get treatment Rehabilitation Management, Prevention, when they leave home. Second Medical Opinion, and so on.12 Mondial Assistance / ANNUAL REPORT 2009
  17. 17. +22.8% IN TURNOVERLifecare Let’s get personal: a leaky tap to a flooded community, we• Daily life services. We help you get your property is our business! have a flexible, customised solution to through everyday so that your life can A property mishap? A property crisis? meet your needs. 24/7. We offer tele- be a little bit easier (babysitting, Most of us have been there before. security for home and office surveillance, cleaning, gardening, etc.). This could be as minor as a faulty but protection services and warranties• Employment Assistance. Do you easily fixable electrical system, or for your credit cards and mobile phones, need help finding a first job, or getting as major as a flooding water pipe CRM programs, concierge services a new one? Do you plan to retire? or a fallen tree across your roof. Some and round-the-clock information call What about career assessment advice of you have experienced natural centres for public inquiries. And just or just an understanding ear? We’re catastrophes. Others have lived through to let you know, we’re redesigning here to give you all the support you week long black outs. Whatever your our Home Assistance offer to include need, when you need it. line of work, whoever and wherever your possible solutions that could be• Bereavement and Funeral customers may be, we’re here to help distributed via our utility clients, thereby Assistance. you help them if and when adversity broadening our offer to reach more• Retirement Assistance. strikes. No matter how big or small. people everywhere. For us, it’s all about Property and Home Assistance – three getting closer to you to take better care small words for a great big offer. From of you and your belongings. Our partnership with Working with an insurer to enhance Disease Management services a French bank enhances health obesity and nutrition awareness for 60+ assistance coverage Designed for an insurer’s customers, Partnering with a large French We have built a strategic distribution ages 18 to 65, the program helps insurance company, we have partnership in France with one of them adopt and maintain a healthy developed a 4-year disease management the country’s largest banks to enhance lifestyle. It includes advice on nutrition, program to reduce the occurrence healthcare protection for their young eating habits and age-appropriate of diseases that decrease life expec- customers when they are travelling exercise to lose weight and maintain tancy or lead to severe disabilities. abroad. This coverage targets long-term health and vitality. Employee Assistance Program 12–28 year olds, and offers them Lifecare services for 60+ We have developed a new Employee security, safety and peace of mind Working closely with a leading German Assistance Program in collaboration when they are far from home. insurance company, we have develo- with insurers, banks, pharmas ped a full range of lifecare services to and large IT companies. It provides help people over 60 who are reco- everything from daily life services and vering from an accident, and who health counselling, to administrative are either temporarily or definitively and social support, and stress dependent. prevention programs. ANNUAL REPORT 2009 / Mondial Assistance 13
  18. 18. International presence14 Mondial Assistance / ANNUAL REPORT 2009
  19. 19. Business units in countries 28 10,231 Staff members40languages
  20. 20. INTERNATIONAL PRESENCE How can we help? How can we help? How can we help? How can we help? How can we help? How can we help? How can we h How can we help? How can we help? Ho Ho How can we help? How can we help? How can we help? WE COVER THE WORLD Assisting you with a worldwide network designed to help! Our international network is built on competence and geographic presence The promise we make is that we’re here counsellors to social service workers, to help, wherever you or your customers our network of specialists assists you • 24-hour availability happen to be. This is why we work with and your customers with every need, • Best price/quality ratio more than 400,000 highly qualified anytime, anywhere. • Official credentials service and assistance providers We have a dedicated international • Cashless access to services and 180 correspondents worldwide. team at group headquarters in Paris • Guarantee of appropriate and From transport technicians to medical that selects, manages and controls well maintained equipment experts, home repairmen to legal our network of providers. advisors, employment and retirement16 Mondial Assistance / ANNUAL REPORT 2009
  21. 21. How can we help? ca we help? How canelp? How can we help? How can we help? How can we help? w How can we help? How can we help? How can we help? Countries with group offices Countries with a commercial activity Our special partner How can we help? How can we help? Switzerland Lebanon How can we help? Brazil Austria The Netherlands Norway Australia Canada Belgium Turkey Sweden China Mexico Czech Republic UK Ukraine India USA France Uzbekistan Japan Germany How can we help? Moldova Singapore How can we help? Greece Bosnia/Herzegovina Slovak Republic Thailand Argentina Ireland Bulgaria Hungary Chile Italy Serbia/Montenegro Romania How can we help? Colombia Poland Croatia Malaysia Portugal Slovenia How can we help? New Zealand Reunion Island Baltic Countries Morocco South Korea Russia Denmark Taiwan Spain Finland ANNUAL REPORT 2009 / Mondial Assistance 17
  22. 22. INTERNATIONAL PRESENCE ASIA-PACIFIC While Asia Pacific was not spared the world’s economic downturn or the year-long struggle, all business units in the region contributed to a significant growth in profits. These contributions are the result of strong, clear leadership in challenging times, an increased focus on our core businesses, 11% OF GROUP innovative product development and investments in cutting edge technology. TURNOVER Despite challenging market conditions, All lines of business — medical Mondial Assistance China also added Asia-Pacific’s performance in 2009 assistance, travel insurance, automotive, some prominent financial institutions was strong, all business units within property assistance and overseas student to its growing list of partners, thereby the region contributed to this growth. health insurance — reported strong increasing its margins and revenue growth, with e-commerce innovation across this segment. The Australian business continued underpinning our dominant position A new nationwide travel insurance to impress with double digit sales in travel. In line with group policy fronting solution allowed the business growth in each of the markets in which to seek growth in strategic new areas, to further develop and enhance its it operates. China, Japan and India we also reached across the Tasman comprehensive travel insurance offer. showed exceptionally strong growth to significantly expand our market Finally, synergistic technology levels in market conditions which presence through a partnership with innovations sustain the growth delivered ranged from mature to subdued. leading New Zealand travel company, by our marketing initiatives and improve Two loss making entities were House of Travel. our “added-value” performance restored to profitability through in the demanding Chinese market. strong commitments by their senior success through management teams. growth and innovation across leaps ahead all product lines in Automotive Assistance climbs the ranks 2009 was an active growth year for Since we launched our operations to reach n°3 in revenue! Mondial Assistance China. Our Chinese in India in November 2007, Mondial Who ever said that growth is not entity launched new custom-designed Assistance has proudly pioneered possible in a crisis year? Certainly not roadside assistance programs, which led the assistance field, creating increasing Mondial Assistance Australia! Our to the successful addition of several new demand for roadside assistance, Australian business demonstrated car manufacturers to the portfolio. establishing professional roadside its exceptional resilience and capacity The business reported a 60% increase assistance services throughout for growth with a 12.9% (in EUR) / in assistance cases and a corresponding the country and expanding into 19.5% (in LC) increase over 2008 69.6% (in EUR) / 57.4% (in LC) increase in customer relationship management revenue. This moved Australia from revenues. It earned higher service quality services for customers. We are fourth to third highest in annual turnover and customer satisfaction scores, while currently managing CRM programmes within our group — impressive for closely containing operating costs through within the automotive, insurance a country with a population of only enhanced personnel training and targeted and financial services markets. 22 million! operating efficiencies. Another leap ahead is the recent18 Mondial Assistance / ANNUAL REPORT 2009
  23. 23. partnership we have built with Mahindra assistance services and other lines such investment in innovative e-commerceand Mahindra, one of India’s largest as inpatient assistance, our maintenance travel insurance products, and tosuppliers of utility vehicles. This has pack program, pet insurance and the the expansion of our distributionhelped to firmly establish us as extended warranty business contributed into general insurance as a meansthe market leader in roadside assistance. to 2009 growth. to provide roadside assistanceIndeed our leadership is partly reflected The Millea Mondial team exerted the 217.9% (in EUR) / 236.4% (in LC) continuous focus on keeping operatinggrowth we have experienced over the costs down, and made specific efforts slow growth butpast twelve months! Mondial Assistance to reduce operating platforms and solid returnsIndia continues to develop its business telecommunications costs. As it was for many other countries,based on two fundamental principles: In an effort to further enhance our 2009 was an unsettling and challengingan unwavering commitment to provide quality commitment to customers, year for Thailand. The market wascustomers with innovative solutions we established a second operations initially affected by the negative impactalong with quality, caring, professional centre. This initiative has resolved of the global economic crisis; however,service. capacity restraints due to the rapid the year and the market closed on expansion of the business, and has a more positive note, with a 21.5% enhanced growth and allowed us to create a disaster (in EUR) / 19.6% (in LC) growth. Ourprofit in a challenging environment recovery facility. Thai business continued its vigilance2009 was another solid performance in relation to costs, thereby enablingyear for Millea Mondial. Even within increased dynamics the entity to report strong levels ofa challenging economic environment, in travel insurance and roadside profitability for the year!sales revenues climbed 62.1% (in EUR) / assistance38.75% (in LC) and profitability was Our Singapore entity achieved a 13.1%further enhanced. We are proud to say (in EUR) / 9.7% (in LC) growth in sales,that we have maintained cumulative an outstanding result given theprofit since our joint venture was first nature of the operating environment.established in 2006. Traditional roadside It can be directly attributed to the EUR: euros / LC: local currency. +17.9% IN TURNOVER ANNUAL REPORT 2009 / Mondial Assistance 19
  24. 24. INTERNATIONAL PRESENCE AMERICAS Another record year in a challenging economy. The Americas zone was the group’s largest growth driver for revenues and profit thanks to online specialty insurance. Innovative product development and strict cost control allowed us to secure our financial performance against the economic downturn. But we never compromised on quality 20% OF GROUP service. Clients and employees expressed strong TURNOVER satisfaction levels in 2009. introduces the ultimate infrastructure and obtained payment growing current clients and acquiring assistance self-service tool card industry level 3 compliance strategic new businesses. The US Brazil reported excellent 2009 results, certification. Employee engagement business unit is the second largest in once again posting double-digit growth. was among the highest in the group revenue, leads all entities in travel With a well-deployed, successful at 87% thanks to greatly improved insurance sales and is the market leader diversification strategy, our Brazilian internal communications. in online travel and ticket insurance, business unit consolidated its lead which experienced dramatic sales gains. position in the overall market and consolidation Our focus on technology, specifically the particularly in the travel insurance of Travel Insurance AgentMax desktop software for travel segment. It focused on gaining direct In September, our business unit in agents and the expanded use of travel end-consumers and launching niche Mexico successfully launched its first insurance 2.0 among online partners, products. Brazil’s star accomplishment travel insurance program with the was a significant growth driver. in 2009 remains DIRECTASSIST, a free country’s largest carrier. Our Mexican Smartphone application that offers entity also began operations with major EUR: euros / LC: local currency. end-customers a 24/7 one-touch, players in the finance industry to provide talk-free access to assistance services. home assistance, funeral assistance, This unique application converges and claims management while the Internet, GPS and the mobile phone, continuing to coordinate all Mexican thereby revolutionizing the way we help assistance files for the group. It is fair our customers. to say that we have quickly established ourselves as a quality reference in the a watershed year Mexican market. with a strong turnaround Continued focus on innovative cost- double-digit growth containment strategies and corporate for the fifth consecutive year governance resulted in a very strong Despite a downturn in the American year for our Canadian business unit. travel industry, our US company had It exceeded its 2008 results by 231%! another strong year, with 22.7% With an eye to existing and future financial services clients, Canada enhanced its IT (in EUR) / 15.8% (in LC) revenue growth. The keys to success? Retaining and +16.1% IN TURNOVER20 Mondial Assistance / ANNUAL REPORT 2009
  25. 25. EUROPE,MIDDLE EAST AND AFRICADespite extremely challenging conditions,EMEA experienced growth and overall strongperformances in 2009. Depending on marketspecifics and maturity, our business units focusedon diversification, building e-commerce, ITinvestments, implementing best cost containmentmeasures and improving our carbon footprint. 67% OF GROUPInnovation was at the heart of the region’s success. TURNOVER SEE hub And once again we demonstrated commercial successweathers crisis with excellent commercial creativity and dynamism and innovations in 2009performance through a sales promotion campaign Our French business unit posted strongDespite the unfavourable business that focused on a key annual product results in 2009, despite the decliningenvironment, our Austrian business and brought together more than economy. Turnover was up by 9.1%, theunit achieved a solid 2.7% (in EUR) 200 major clients. result of significant commercial initiativesincrease in revenues. With its and actions across all sectors. Teamsgeographical expansion towards successfully developed portfolios withSEE (South Eastern Europe), success despite major accounts across all business lines,our Austrian entity further established tough market conditions and enjoyed many contract renewals withitself as a regional hub, serving more Our business unit in Prague began top players. Our French entity signed athan 10 countries. In 2009 travel its second decade of successful partnership agreement with a leadingand roadside assistance remained collaboration with Allianz Prague and Japanese automotive manufacturer.the dominant lines of business. Allianz-Slovenska Poistovna Bratislava. Our healthcare and energy solutions won With group support, we significantly the attention of new clients as well, and diversification enlarged our customer portfolio in we were awarded with new agreementsgenerates strong growth assistance services and travel with sports equipment distributors andOur Belgian business unit continued its insurance, and secured several major several camping networks. Growthdevelopment during 2009 with a record new contracts in vehicle assistance. We continued with additions to our portfoliogrowth in revenues and improved also won an international tender for the of mutual insurance companies.profitability. We formed a new lifecare KBC Group for which our Prague entity Tourism online (excl. B2C) grewpartnership with an HR services now coordinates KBC presence by 27.3% in 2009, a trend that shouldcompany, and enjoyed significant overall throughout Central and Eastern continue with the launch of France’s new,growth within the healthcare sector. Europe. These and other focused more user-friendly website in 2010.The business unit has now established business acquisition efforts helped Innovation was high on the agenda.its credibility in the pharmaceutical mitigate the negative impact of the We launched “MIRA Mobile”, a mobilesector and is proud of its portfolio year’s economic crisis. Our Czech version of our electronic missioningof solid references. In addition, a new entity also completed its TOM (target system for service providers, as well aswin with a major automotive client operating model) targets to fully align a telephone for female victims of violence.further reinforced positive turnover. its organisation with the group’s Our French business unit launched standards. ANNUAL REPORT 2009 / Mondial Assistance 21
  26. 26. INTERNATIONAL PRESENCE several other socially-oriented initiatives in the health and lifecare and financial crisis in travel industry as well, for the elderly, assistance givers sectors. Our German entity enjoyed shapes market in 2009 and active young people. To combat strong growth in its travel activity, Our Italian entity was severely the economic crisis our French entity the largest share of its business impacted by the 2009 economic crisis undertook an important operation portfolio, thanks to a healthy increase in the tourism industry. Business with to streamline costs and optimise in annual policies. A major 2009 the Allianz group, the banking sector, processes, and cut down on paper highlight was the repatriation of a baby, motor vehicle manufacturers and consumption transforming 2 million paper known as the “Julia Assistance Case”, companies like Mediaworld generated documents into electronic files! which the group made into a movie! a big part of turnover. The drop in tour Telesecurity is booming with excellent operator portfolio revenues was profit, and in Reunion Island, both private innovative actions fortunately compensated for by new and public clients are reinforcing their help foster growth in trying times tour operator contracts, individual partnerships with our company. Our Greek entity’s excellent customer Globy travel policies, a +40% increase services and ability to successfully in direct online revenues, and a strong best practices help implement innovative change no doubt expansion of our assistance portfolio, achieve top results contributed to its success in 2009. in particular for ‘white and brown Despite tough competition, our Even the new towing legislation goods’ warranty extension guarantees. two German business units achieved combined with the poor economy The profound crisis in the travel market good combined top-line results and could not slow us down. Our business has also caused an enormous liquidity further reduced their operating unit reported a very successful +21,4% crisis for tourism players. As the market expenses. Their approach? Successful growth, thereby maintaining its lead leader in the travel insurance field, business process re-engineering, the position in both the automotive Mondial Assistance Italia has had deployment of best practices and tight assistance and travel insurance markets. to cope with bankruptcies in expense management. Initiatives to We designed new services, including the industry and make subsequent further capitalize on online channels was accident management, and have provisions which has had an effect very successful. Furthermore, efforts begun to develop an agent/broker on results for 2009. to continuously optimize the business network to promote our assistance portfolio structure paid off, producing services and products through a new expected results with solid growth distribution channel.22 Mondial Assistance / ANNUAL REPORT 2009
  27. 27. financial stability IT investments and persistentwithin a difficult context reinforced presence in healthcare development of roadside assistanceAlthough the global economic crisis 2009 was a year of consolidation for After the successful launch of operationsnegatively impacted business partners our Portuguese business unit. After in 2008, our Russian business unit setin Poland, particularly in the financial several years of growth, the company its sights on becoming the country’sand automotive industries, our Polish restructured. It also implemented a new leading roadside assistance unit weathered 2009 very well. IT System that helps improve service During 2009 it was fully committedIt enjoys financial stability and hopeful provider capabilities, such as reducing to building the most extensive providerprospects for development. A few time to send tow trucks to end users. network in the market. These effortshighlights in 2009 include signing This new system has also helped to paid off and it now delivers servicesagreements with key automotive brands, improve in-house management tools. in more than 100 locations. Our Russianinsurance companies, and banking Our Portuguese entity strategically entity also reviewed and optimizedpartners. Our Polish entity is currently in focused on its core businesses internal business and operationalthe process of developing new product in 2009 and reinforced its presence processes to be able to meet the heavylines around extended warranties in the healthcare sector by offering increase in demand. It successfullyand tele-assistance, and expanding new clients training programs in drug added 6 new automotive brandsits distribution channels in B2C. With administration and follow-up. to its client portfolio and focusedsigns of improvement in the market, on developing key partnerships withit is looking forward to a recovery in Russia’s major automotive distributors.the automotive sector and is optimistic All of these efforts have led, notabout the future. surprisingly, to a considerable growth in our market share! ANNUAL REPORT 2009 / Mondial Assistance 23
  28. 28. INTERNATIONAL PRESENCE it just keeps growing +1.9% IN TURNOVER Despite the global crisis, which negatively affected all sectors in 2009, our Turkish business unit had stunning 4.2% (in EUR) / 18% (in LC) growth, bringing its combined ratio to 92.5%. Through proactive measures, it minimized costs in network growth management by altering towing rates, and resilience in the downturn and at the same time, developed its The Swiss market demonstrated customer portfolio. Growth in both great resilience during the global the insurance and banking sectors economic downturn. With a strong continued with the recent signing of 12.4% (in EUR) / 6.9% (in LC) growth a partnership agreement with a major in revenues, our Swiss business unit travel player. A highlight in 2009 was achieved very satisfactory top and implementing Unity, an effective IT tool that bottom line results. The health and helps improve the quality of customer lifecare and automotive businesses services. So far, the new system has (including Medi24) greatly contributed paved the way for increased productivity to this performance. Furthermore, and more efficient cost containment. consumer specialty insurance initiatives such as extended warranties for white and brown goods and mobile phone innovation to grow insurance products also positively Our UK and Irish business units were contributed to a well-balanced particularly challenged in 2009 as a new product launches business portfolio. result of the economic recession. and an improved carbon footprint Despite this, our teams made new Our Spanish business unit consolidated maintaining business wins throughout the year with 2009 results in an environment greatly stability in a year-long challenge particular success in B2B2C. This all impacted by the severe economic crisis. Despite the difficult market and contributed to strong operating results. To combat the situation, our Spanish economy in 2009, our Dutch entity Innovations were at the centre of this team worked throughout 2009 to maintained a stable turnover and success with further deployment of improve its online customer services. improved its bottom line results. online automotive warranty and travel The entity also launched a new How? It acquired several important new insurance platforms. M-commerce assistance product that provides a wide clients and improved its operational was high on the agenda resulting in range of legal services, such as legal efficiency. Our Dutch business unit also a significant business win with a major counsel, legal defence and legal continued to focus on new product mobile telecoms provider. documentation. The crisis also led to a development, which saw the successful Our UK business unit continues to be steep drop in employee travel. The launch of several innovations: a new recognized for its customer service upside was a significant drop in annual travel insurance product and the excellence and is amongst the region’s employee-generated CO2 emissions, first European digital owners booklet top three providers of dedicated which were down 18% compared produced together with a car roadside assistance, travel insurance to 2008, and it further improved manufacturer. Since mid 2009, administration and automotive warranty. its carbon footprint by reducing its in close collaboration with the Ministry Investment did not stop with technology; paper consumption by 17%! of Transportation, we have handled all HR, Internal Communications and CSR automotive accident cases on main offered strong support throughout the roads throughout the country, which year to boost employee engagement has allowed us to expand our network and successfully implement innovative into the semi-public sector. change.24 Mondial Assistance / ANNUAL REPORT 2009
  29. 29. improved focus for future development In 2009, Mondial Assistance heightened its focus on the Nordic & Baltic regions, as both the automotive and e-commerce travel insurance activities are beginningactivities begin! to show promise of development there.Throughout 2009, together with We strengthened our automotivethe Allianz network in the GCC (Gulf presence by signing a new pan-regionalCooperation Council) and specifically roadside assistance agreement.selected partners, Mondial Assistance At the same time, many car manufacturersin the Middle East seized opportunities confirmed their demands for renewalwith local leading GCC airlines. products. We also successfullyTo launch its operations in the Middle developed and launched a CDWEast, Mondial Assistance International (collision damage waiver) product,initially outsourced handling of travel part of our consumer specialty insuranceclaims to one of its sister Allianz solutions. In order to fully developcompanies in Bahrain, while using business in the region, the groupMondial Assistance UK’s medical and has agreed to redesign the NordicIT platforms. In the future we hope to organization and appoint a dedicatedopen a small local operations platform country manager, who will work closelyin the region. with our local partners. EUR: euros / LC: local currency. ANNUAL REPORT 2009 / Mondial Assistance 25
  30. 30. Financial results +4.8% growth26 Mondial Assistance / ANNUAL REPORT 2009
  31. 31. 56 million € net profit1,673million € turnover
  32. 32. FINANCIAL RESULTS REVIEW OF OPERATIONS FOR THE YEAR 2009 Report on the activity of the Group and its subsidiaries in 2009 Economic situation The contribution by Mondial Assistance Asia continues to grow, with a contri- France, World Access Inc. in the USA bution to the Group’s operational result 2009 was mainly marked by the world eco- and Mondial Assistance Australia ac- reaching 10% against 9% in 2008. Addi- nomic crisis. In this unfavourable situation counted for 44.3% of total sales in 2009, tionally, in Germany, a loss-making con- the economic position of consumers and against 41% in 2008. tract with a tour operator is the reason businesses deteriorated considerably. for the 2009 technical loss. In Portugal In France, travel insurance sold online and the Group continued to turn round loss- Except for Asia (powered by China) new customers in the automotive sector making business begun in 2008. and Brazil, the car market was greatly made up for the erosion in rates seen on affected by the crisis. New vehicle sales fell traditional markets. In the USA, growth was except in France and Germany where gov- Investments and financial driven by online sales and by a new product ernment measures were introduced. result covering the cancellation of event tickets. The travel industry was also very much af- At end December 2009, the Group’s port- fected by the economic crisis and by the In Asia, Australia posted strong organic folio came to 603 million euros which is impact of the swine flu epidemic. According growth in travel and health insurance 39.8% of assets, up 4% on 31 December to the World Travel and Tourism Council, the while the China portfolio reached the 2008. Investment policy continues to favour contribution from tourism to GDP fell from critical size of 16 million euros. short term placements with a low risk profile 9.6% in 2008 to 9.3% in 2009, and ac- (bonds, short term deposits). cording to Euromonitor the number of trips Operational result made was down 8%, with the number of air The operational financial result came to tickets dropping by 14%. The Group’s operational result came to 27.9 million euros, down 0.7 million euros 94 million euros, down 14.2% compared compared to 2008. The result from invest- The impact of the crisis was very marked to 2008 but in line with budget. ments fell by 11 million euros which was in Europe, North America, Mexico and in line with the decline in financial yields. Russia. The change is due to the deterioration in Book profits from financial management the combined ratio resulting from a rise fell from 4.25% in 2008 to 2.92% in 2009. in insurance claims offset in part by strict The impact of negative exchange rates The Group’s activity control of internal costs. of -8.2 million euros in 2008 was up at In spite of the difficult economic situ- +1.8 million euros end 2009. ation, total Group sales which came to The rise in claims was felt in travel in- 1.7 billion euros were up 5% compared surance in particular where the volume Net result to 2008. Business in Europe was most of cancellations increased significantly affected by the crisis with growth of in the first part of the year because After the tax charge (38 million euros) around 2% whereas growth areas in of the reduction in consumer purchasing and a non operational result of 2.3 mil- Asia and the Americas posted two figure power. In addition, an increase in claims lion euros mainly from investments, the growth rates of 18 and 17% respectively. was seen in roadside assistance in the Group’s net result came to 56 million second half and was even more marked euros, down 10.5% compared to the With sales of 790 million euros, up 4% in the last quarter in continental Europe. 2008 financial year. nearly on 2008, travel insurance prod- ucts accounted for 47% of total sales. The contribution by Mondial Assistance Profitability Roadside assistance sales were sta- France accounts for 32% of the total op- ble at 623 million euros. Sales of health erational result against 38% in 2008 and On the basis of an average amount of products were up by 18% while property the contribution by the Americas now equity of 393.9 million euros, the return damage products increased by almost represents 26% of the total operational on equity for 2009 came to 14.2%. 30%. result against 14% in the previous year.28 Mondial Assistance / ANNUAL REPORT 2009