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VIENNA TURNS OUT TO BE A GOOD TERRAIN FOR ADDITIONAL INSURANCES - SUCCESSFUL START FOR COMBINED’S “SPITALGELD” (HOSPITAL BENEFIT)

Vienna, September 6th, 2007 – At the end of May 2007 the Combined Insurance Company of Europe Ltd. – a worldwide leading specialist for additional accident and health insurances – has begun the sale in Vienna. Since the official opening of the Austrian branch, the company has drawn a positive interim result. Three hundred of the “Combined Spitalgeld Versicherung” policy has sold in just a few weeks with a premium-total of 60,000 Euros. This start is “pleasantly above expectations” says Ger Noonan, responsible Vice President of Combined.

Andrea Vonhausen, National Sales Manager for Austria, add, “we win about 100 new customers every month although we are new and not known. This shows that we really cover a gap in the Austrian insurance market”.

Hospital Benefit is highly attractive for self-employed persons

Combined currently has only one product available on the Austrian market – a hospital benefit. This additional insurance offers hospital and convalescence benefits after an accident for up to 1,000 days in hospital.

This offer is especially interesting for self-employed persons and approximately 70% of Combined’s customers belong to this group. “The loss of income due to a non-productive time caused by an accident can easily lead to an endangerment of subsistence for self-employed persons. The ‘hospital benefit’ covers this exact risk and is therefore an ideal precaution for this occupational group” Noonan explains the popularity of the product.

More employees shall help to continue the success

Combined’s look to the future is optimistic. In 2008, they plan to double their employee base from 12 to 24. “In Austria there is a lot of potential concerning accident insurance. With the enlargement of our motivated team we want to stay on this road to success and get closer to our long-term goal of becoming the market leadership in additional accident insurance” Ger Noonan explains.

About Combined Insurance

  • Combined Insurance, founded in 1919, is a world leader in personal accident and healthcare insurance coverage with over 87 years’ experience in business.

  • Combined Insurance provides accident coverage and personal healthcare plans for individuals/families, employed/self-employed and small/large businesses worldwide. The company offers a comprehensive and competitive range of products which include accident, health, life and disability insurance cover.

  • With a turnover in excess of 1,900 million euros, Combined Insurance has provided indemnities totalling 11,000 million euros to almost 4 million clients worldwide.

  • Combined Insurance has branches in Spain, Australia, Canada, Germany, New Zealand, Puerto Rico, Portugal, Ireland, Thailand, United Kingdom and U.S.A., with over 6,000 insurance agents.

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