As in the previous year, the premiums earned in 2020 amounted to 3.9 billion francs, as the health insurance company announced on Thursday. Compulsory health insurance (OKP) accounted for 3.6 billion of this. That is 100 million more than in the previous year.
The gross profit before deduction of the provision for the reimbursement to the insured fell at 36.3 million francs, however, almost 10 million lower than in 2019 (45.6 million) and the bottom line was a profit of 6.3 million.
Divers in insurance business
The core business had to accept a diver. The underwriting result slipped into the red at -13.2 million francs. In the previous year, Assura had posted a profit of CHF 27.2 million in the insurance business.
The combined ratio deteriorated to 100.3 percent after 99.3 percent in the previous year. If the value is below 100 percent, the business generates actuarial profits. In contrast, the result from investments, at CHF 47.3 million, was higher than a year earlier (CHF 32.9 million).
The investment result was solid despite the volatile capital markets, it said. The insurance company attributes this to safety measures and good risk management.
Well financed
According to the communiqué, Assura’s reserves were at a solvency rate of 150 percent at the end of 2020 and thus on the threshold from which premiums can be reimbursed.
“If we reimburse the money to our policyholders and not let them flow into the reserves, they will remain at an appropriate level,” Assura boss Ruedi Bodenmann is quoted as saying. A solvency rate of 150 percent corresponds to the services that Assura reimbursed in a quarter.
The reserves of health insurance companies in Switzerland have increased in the last three years from an average solvency ratio of 150 to 200 percent. “The reserves are currently too high,” said Ruedi Bodenmann. Therefore, the money must be returned to the insured. (sda / awp)
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