ADAC attracts 460,000 policyholders

ADAC Autoversicherung, the joint venture between Zurich and ADAC, Germany’s largest automotive association, has announced that by January 2011 it had a portfolio of 460,000 policies, up 16% from a year earlier. The joint venture lost 40,000 policyholders but gained 100,000 new ones over this period. Furthermore, Zurich, which holds 51% of the joint venture, said that the ADAC Autoversicherung’s combined ratio remained relatively favourable at 98% compared to an industry average in Germany of 105% for the motor insurance segment.

Click here for more information about the ADAC Car Insurance (German Language).

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