Partners Group is setting up own insurer

Financial broker Partners Group SK (Bohuslav Benedek, Juraj Juras and Ján Müller) has obtained an insurance license from the central bank NBS. It has not disclosed its launch date. It plans to sell simple life insurance products in Slovakia as well as abroad. This market leader posted a 4% drop in net profit to €7.6m last year but its sales were up 10% to €44.5m. Over the past decade, it reported a net profit of €55m and has 1,400 brokers. The market No.2, OVB Allfinanz, improved its net profit 3% to €3.1m last year and its sales stagnated at €41.1m.

(finsider.sk)