2016 was once again a very successful financial year for CONCORDIA. Both companies – CONCORDIA Swiss Health and Accident Insurance Ltd as well as CONCORDIA Insurances Ltd – achieved a positive result.
The income surplus amounts to CHF 102 million overall. This surplus goes directly into the reserves, which primarily guarantee the financial stability and solvency of CONCORDIA, but are additionally used to cushion the increases in premiums and for reductions in premiums. In 2017, CONCORDIA is paying CHF 30 million out of the reserves back to its insured persons with basic insurance in Switzerland. CONCORDIA is organised under the auspices of a non-profit oriented association.
Thanks to invoice verification, CONCORDIA saved CHF 228 million in the last year. At the same time, only 4.9 Swiss centimes from each premium franc was expended for administrative costs with the insurances pursuant to the Swiss federal law on health insurance (KVG/LAMal); the rest flowed back to the insured persons in the form of benefit payments.
In regard to basic insurance, CONCORDIA was able to welcome 25,000 new insured persons.
|CONCORDIA Swiss Health and Accident Insurance Ltd and CONCORDIA Insurances Ltd: key figures for the 2016 financial year|
|Persons with basic insurance in Switzerland and the Principality of Liechtenstein as of 1.1.2017||601,000|
|Agencies and branches||230|
|Overall earnings||CHF 102m|
|Earnings of CONCORDIA Swiss Health and Accident Insurance Ltd||CHF 59m|
|Earnings of CONCORDIA Insurances Ltd||CHF 43m|
|Premiums earned over all classes of insurance||CHF 2.5bn|
|Loss expenses and benefits||CHF 2.3bn|
|KVG/LAMal Combined Ratio||98.1 %|
|VVG/LCA Combined Ratio||96.8 %|
|KVG/LAMal Administrative expense ratio||4.9 %