Famous Swiss insurance company Basler to officially start with work on September 3 - focus on life insurance

Swiss insurance company "Basler", which obtained work permit from the National Bank of Serbia in July 2007, will start to receive first payments on September 3, 2007.

According to Manager Vladimir Meden, this insurance company will focus on life insurance, with the emphasis on special packages that have not been present on our market, such as those intended for special insurance of mortgage loans, insurance of doctors, dentists, etc.

- Since mistakes in medicine, unfortunately, occur, we will insure doctors from the consequences of potential mistakes. Besides, we will have a program that is closely related to banking services. For example, with the special insurance of mortgage loans we will take the risk that client may not live enough to repay the loan and, in that way, we will encourage banks to continue to offer even better terms for loans on the market. Also, we will offer the package of additional health insurance. What we won't do is car insurance.

Vladimir Medan

He points out that Basler will contribute to healthy competition, and it will give stimulus to development of insurance market of Serbia by entering it, especially in the life insurance sector. Citizens of Serbia will have much benefit from that, because the assortment of services they will be able to use will be larger.

- We can not give easy estimates about takeover of insurance market in Serbia. Basler decided to focus on one market segment - life insurance. I am certain that we will become leaders in that field – says Medan and adds that Basler took 90% of the market in Croatia in health insurance sector.

Bicentennial business philosophy of Basler is safety, therefore, this insurance company will not invest in risky categories, but only "conservatively" - in financially reliable and stable securities.

- Basler will invest in government securities of A category, the first-class banks, immovable property and Belgrade Stock Exchange. Incomes will, of course, be larger than with the classical savings in the banks.

Insurance Company Basler in Belgrade currently employs 20 people, and General Manager Vladimir Meden announced that that insurance company would have 100 workers prior to year 2008.