INSURANCE

Foreigners treated as residents

FROM the beginning of this year, Union poisťovňa has been allowed to provide treatment cost insurance for foreigners residing in Slovakia. It is the only commercial insurance company that owns a license for this insurance product.

FROM the beginning of this year, Union poisťovňa has been allowed to provide treatment cost insurance for foreigners residing in Slovakia. It is the only commercial insurance company that owns a license for this insurance product.

Union gained the license by acquiring the non-life insurance portfolio of Vzájomná životná poisťovňa Sympatia from the ING financial group as of January 1, 2006.

The non-life portfolio consisted mainly of individual health insurance. With this type of insurance a foreigner has the right to free complete medical care in Slovakia, including preventive visits.

Shaun Russell, a member of the Union board of directors, said: "We are delighted to have completed this transaction as it fits our strategy perfectly. This portfolio, together with the employees, strengthens our position on the health insurance market. For us, health insurance is one of our core business areas."


Compiled by Marta Ďurianová

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