Saarbrücken, 9 March 2010 . Contrary to market trends, Cosmos Lebensversicherungs-AG was able to enlarge its portfolio once again in 2009. Regular premium volume rose by 0.6 percent from 1,178.2 billion euros to 1,184.8 million euros, while the market as a whole reported a distinct drop of 3.5 percent here, according to provisional estimates by the Association of German Insurers (GDV).

CosmosDirekt has strengthened its position in the market for state-aided old-age pension products. The portfolio of so-called "Riester" policies and basic pension covers grew to 153,045 contracts in the financial year just ended (previous year: 143,855 contracts), an increase of roughly 6.4 percent. Premium income from basic pension insurance increased by 48 percent. Gross premiums written rose by 3.3 percent to 1,290.2 million euros altogether.

This growth was achieved despite the decline in new business due not only to a general buying reticence, but above all to such special effects as elimination of the Riester step. After adjustment for special effects, new business in continuous contribution declined by 10.3 percent, from 102.9 million euros to 92.3 million euros. Without adjustment, new business in continuous contribution totalled 135.3 million euros last year.

Cosmos Versicherung AG: Considerable increase in market share

Cosmos Versicherung AG has increased its market share considerably. Business in force grew 5.4 percent to a total of 1,097,598 contracts by the end of the financial year (previous year: 1,041,048 contracts). Premium income totalled 132.6 million euros (previous year: 127.4 million) for all lines of business, a rise of 4.1 percent in a stagnating market (0.0 percent^*).

In motor insurance business, CosmosDirekt was able to expand considerably in the course of the year. Gross premiums written increased by 3.3 percent to 87.5 million euros while the market as a whole declined by 1.5 percent^*. Business in force (in motor business) at 1 January 2010 was 11.2 percent higher than in the previous year, due to effects attributable to the new year (278,782 contracts compared to 250,693 contracts in 2009).

In property and casualty business too, the company was able to report significant growth in gross premiums written, with a rise of 5.6 percent in 2009 to 45.1 million euro. Premium income grew by 8.3 percent in liability insurance, by 2.1 percent in personal accident insurance, by 8.7 percent in household insurance and by 20.9 percent in homeowners' insurance.

CosmosDirekt Group: Investment programme provides the basis for further sustainable growth

On a sustainable growth course, CosmosDirekt is making an impressive showing. With a comprehensive programme of investments, it is optimally prepared for the future. In 2009, the company created more than 50 new jobs and invested in the further development of its online consulting services.

As Peter Stockhorst, CEO of CosmosDirekt explains: "In difficult market conditions, we are delighted with this growth in all areas. Sustainability is our aim even now, and our investments are designed to provide the basis for further growth."

The company's course has recently been confirmed by the renowned rating agency ASSEKURATA which once again awarded top marks in the German insurance market to CosmosDirekt.

^* Source: Association of German Insurers (GDV), preliminary data