At a time when many were wary about investing in Poland, Amplico Life started its operations here in 1990. With insurance license number 1, Amplico Life became the first insurance company in Poland with foreign capital.
After 13 years, Amplico Life is still a leader in the Polish financial and insurance sector with a market share of 10.4 percent measured by collected premiums. The company offers a comprehensive range of life insurance policies, including ordinary life policies, accident and health, and life insurance with investment fund. Amplico Life insures nearly 1.3 million clients under individual, group and credit life policies. Traditionally, Amplico Life’s products are offered through captive sales forces and intermediaries, but the company also takes advantage of modern ways of reaching clients, e.g. through bancassurance and direct marketing.
To provide the best service to its clients, Amplico Life has a staff of 435 people and cooperates with 2,200 agents and over 50 multi-agencies. It has 60 offices and agencies located in 44 cities in Poland. The confidence of the company’s clients is reflected in the growth of premiums as well as profit. Total assets under management of Amplico Life in Poland amount to PLN 3,577 million; total gross income in 2002 equaled PLN 1,416 million.
Amplico Life also owns 50 percent of the fourth-largest pension fund in Poland, AIG PTE; the other 50 percent is owned by the parent company American International Group Inc. The total value of net assets in AIG PTE is PLN 2.6 billion. AIG PTE was the first pension fund in Poland to receive the ISO 9001 quality certification and still is one of the few pension funds to have it. The company also has 100 percent shares in AIG Asset Management Company, with assets amounting to PLN 4 million as of the end of 2002.
As the 15th largest corporate income taxpayer in Poland, Amplico Life paid PLN 74 million in income tax paid in 2002, a significant contribution to the Polish economy.
Twice – in 2001 and 2002 - The Polish Academy of Sciences and the Ministry of Economy have honored our company with the Eagle of “Rzeczpospolita” as the best financial institution on the Polish market. In 2003, “Parkiet” daily recognized Amplico Life with their Golden Laurels award. Amplico Life is on the List of the 300 potentially most competitive Polish companies on the European Union Market, and was recognized in ”Grand Pearls of the Polish Economy”, a list of the best Polish companies.
Amplico Life observes the maxim “Think globally, act locally” in its charity work. The company takes care of children in orphanages in Grabinek, Gryźliny, Krasne and Warsaw and organizes Summer English School for the orphans each year. Amplico Life also co-created sports schools where children train in track-and-field sports under Robert Korzeniowski, race-walking world champion.
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