The insurance group VidaCaixa makes 249 million euros of net profit in 2010
The insurance group of the Catalan savings bank ‘la Caixa’ earned 19,5% more than in 2009. The acquisition of Adeslas is a positive result for the VidaCaixa Grup.
Barcelona (ACN).- VidaCaixa Grup, the insurance branch of the Catalan financial giant ‘la Caixa’ reached 249 million euros of net profit in 2010. This figure represents a 19.5% increase in relation with 2009 results, in part thanks to the acquisition of the mutuality Adeslas VidaCaixa Grup. This operation placed the holding as the leader in the health and life insurance sector. VidaCaixa ended 2010 with a 24% increase in premiums and commercial contributions, commercialising 6,136 million euros in this type of operations. It also managed almost 34,000 million euros in the savings and prevision sector, which is a 9.2% more than in 2009. The group passed to provide its services to 5.9 million of clients. A year ago, VicaCaixa Grup had 3,4 million of clients, growing 71.9% in only 1 year time.
In June 2010, VidaCaixa Grup bought the health mutuality Adeslas and incorporated it into its holding. In fact, if we consider separately the activity generated by Adeslas in 2009 and in 2010, VidaCaixa Grup’s growth in the sector of insurance premiums and contributions to pensions was 8.8%. VidaCaixa’s business volume in life insurances and pension plans reached 33,917 million euros in 2010. This figure consolidates VidaCaixa’s leadership in the complimentary social prevision market in Spain, with a 15.1% of market share.
At the end of 2010, VidaCaixa Grup had 5,857,125 clients. Compared to 2009, the company won 2.45 million of clients, as it added those of Adeslas. Taking into account people who were already clients of Adeslas, VidaCaixa Grup won 506,983 new clients, which represents a growth of 9.5%.