Highlights
GUARANTEES SPECIALISTS AGAINST THE PUBLIC ADMINISTRATION
01-10-2008
In order to open high specialized markets for the Spanish insurance brokers, Millennium is promoting the guarantee insurance as an alternative to the bank guarantees...
MILLENNIUM SUBSCRIPTION AGENCY IS AWARDED FOR ITS CUSTOMERS' SERVICE
27-02-2008
Millennium Subscription Agency in Spain, OM Suscripción de Riesgos, has become the first institution in this sector.
MILLENNIUM CLOSES THE LAST EXERCISE WITH ALMOST 30 MILLION EURO TOTAL ASSETS
11-01-2008
MILLENNIUM INSURANCE COMPANY has closed 2007 with solvency rates which, accor ...
Approval, risk subscription and products distribution by Millennium Insurance Company are made through OM Suscripción de Riesgos (OM Risk Subscription Agency).
Financial Background
The company was created in 2002 and its great development has strengthened remarkably in the last years, with figures that show great financial stability. According with the data, the 2006 annual memory confirms for example a 117.13 % solvency rate, which doubles by far the demanded rate. The total assets reach 20,378,246 Euro and the share capital is 6,611,000 Euro. Likewise the premium volume in 2006 attained up to 10.1 million, with a 31.7 % increase compared to the previous year.
Financial Background 2008
The company was created in 2002 and its great development has strengthened remarkably in the last years, with figures that show great financial stability. According with the data, the 2006 annual memory confirms for example a 117.13 % solvency rate, which doubles by far the demanded rate. The total assets reach 20,378,246 Euro and the share capital is 6,611,000 Euro. Likewise the premium volume in 2006 attained up to 10.1 million, with a 31.7 % increase compared to the previous year.
In 2007 PRICEWATERHOUSE COOPERS audit services confirmed a 148.28 % solvency rate. This means a 26 % increase with regard to the previous values. At the same time, we should note the renewed support of their main reinsurers, all of them with remarkable qualifications (A+): Münchener, Everest Re, Hannover, Nacional de Reaseguros, Mapfre Re and Lloyd´s.
One of the most positive values of the company is the fact that 6,655 incident reports have been started and no claim has been received by the Control Authority, which proves the high satisfaction level attained by its customers.
Financial Background 2008