MIC Insurance – Millennium over eur 60 million in premiums in 2014
MIC Insurance – Millennium, british company established in Spain, has given a strong boost to its business, with a significant increase in gross premiums written in 2014, which have reached a total volume EUR 60,155,321, compared to 2013 figures of EUR 35,252,410. This growth of over 70%, is also accompanied by a profit of € 6,571,047, representing a growth of 23% compared to 2013.
In addition, Directors state that “the most valued aspect of the final balance is undoubtedly the increase in the solvency margin, who was 217.64% in 2013 and in 2014 reached a value of 343%, which translates into an impressive growth of 58%”. Another of the most important parameters of 2014 was the increase in assets that are currently 35% higher than last year, from EUR 65,504,870 to EUR 88,563,221 in 2014.
If we focus exclusively in the production out of Spain, it is quite significant the fact that the Company has managed to double its business volume, from a value of EUR 19,702,740 of gross premiums in 2013 to EUR 44,599,223 in 2014, representing an increase of 126%.
This important business growth in Europe is accompanied also by a positive tendency in Spain, where the sources of the Company indicate that “the market has stagnated and has left the companies virtually as they were before or with important descents in its economic results. MIC in Spain has grown, and we are frankly satisfied”. In the Surety branch, where the Company was a leader according to ICEA’s statistics last year, MIC has kept on growing, with a significant increase of 6% compared to 2013.