Amplico Life dented by claims surge, but boosted by returns on state bonds

After the third quarter of 2002, insurer Amplico Life has posted profits of zl. 144.9 million, despise a 70% increase in compensation paid out to clients. The company's revenue grew by 17%, compared to the same period of last year. "An increase in compensation claims for a company with an over 10-year tradition is a normal thing," said Amplico Life deputy chairman Lukasz Kalinowki. He stated that the value of these claims were inflated by their customers' decision to withdraw policies, but he refused to reveal the scale of the actions and the number of the insurance agreements dissolved. What transpires from the data is that Amplico Life has paid their customers zl. 131.4 million in total, which constitutes 17% of the gross contributions collected over this period. In terms of revenue from deposits in State Treasury securities, the company earned zl. 254.2 million. (Prawo i Gospodarka, p. 16) M.T