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Dôvera health insurer earned the most over five years

The state Financial Policy Institute informed that the profit of the health insurer Dôvera owned by Penta and Prefto Holding Limited seated in Cyprus exceeded €600 million in the past five years – far more than rivals.

The state Financial Policy Institute informed that the profit of the health insurer Dôvera owned by Penta and Prefto Holding Limited seated in Cyprus exceeded €600 million in the past five years – far more than rivals.

The profit of another private health insurer, Union, in this period was €13 million while the state-owned Všeobecná Zdravotná Poisťovňa generated a loss of €56 million, the Sme daily wrote in its November 20 issue.

“Dôvera has been the leader in the long run in overall and operating efficiency," explains the insurer, as quoted by Sme. However, it questions the methodology of the state institute and offers its own data – which, nevertheless, also prove it has had the highest profits among insurers – over €200 million over the past nine years.

The Financial Policy Institute (IFP) pointed out that the profit of Dôvera makes up 14 percent of its revenues. “For the sake of comparison, insurers on the well-established Dutch market achieve profits amounting to only single-digit percents,” IFP claims. In VŠzP and Union, these come close to zero. Dôvera claims it operates in an effective way, stressing the smaller number of employees per one million of policyholders and also the lowest operation costs per one policyholder. “We cover the costs for health care of all policyholders adequate to what they are entitled to,” the insurer adds.

(Source: Sme)

Disclaimer: The Slovak Spectator is co-owned by Petit Press, where Penta has a 45 percent minority share.

Compiled by Zuzana Vilikovská from press reports
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