Mondial Assistance Annual Report 2009

Helping people
in 2009
ANNUAL REPORT

Contents
Group history .................................................................................................................. 01
Editorial ........................................................................................................................... 02
Key ﬁgures ...................................................................................................................... 04
Milestones ....................................................................................................................... 05

Lines of business ...............................................................06
Travel ............................................................................................................................... 08
Auto ................................................................................................................................ 10
Health, Life and Home ..................................................................................................... 12

International presence ......................................................14
We cover the world ......................................................................................................... 16
Asia-Paciﬁc ..................................................................................................................... 18
Americas ......................................................................................................................... 20
Europe, the Middle East and Africa ................................................................................. 21

Financial results.................................................................26
Review of Operations for the year 2009 ........................................................................... 28
Financial statements of Mondial Assistance Group .......................................................... 30
Business years 2008 - 2009 ............................................................................................ 35

Group structure as of 31, December 2009

Groupe
ACIF* Allianz France

50% 50%

* ACIF: Allianz Compagnia Italiana Finanziamenti S.p.A.

Group history
In1950 when traveling became an increasingly popular pastime, a team of forward thinking
Swiss business pioneers created Elvia Travel Insurance. This was a symbolic date for the
small company that was to become, much later, the group that we are today.
Why? Because it marked the beginning of our story about helping people, which is at
the very heart of everything we do.
Our helping others reached a new level twenty-four years later in 1974, when SACNAS-
Mondial Assistance was founded in France. The founding of this new company paralleled
the development of the assistance business, which, in addition to travel insurance, included
roadside, medical and repatriation assistance. In 1979 AGF (formally Allianz France since
2009) became a shareholder of Mondial Assistance.

Elvia and Mondial Assistance remained two separate entities in the 80s and 90s.
During this 20-year period, we accompanied our corporate clients through their own
changes. Where they grew geographically, so did we, developing first in Europe and then
gradually throughout the rest of the world. In 1995, Elvia joined Germany’s Allianz Group.

In 2000 Elvia Travel Insurance and SACNAS Mondial Assistance successfully merged
and created our group as we know it today.
This coming together represented nearly 80 years of combined experience and know-how.
Now joined as one, these two leaders in their respective fields became quite naturally
the leading world player in assistance, travel insurance and customer services.

In April of the same year we acquired World Access, the American leader in Travel
Insurance. And one year later Worldcare in Australia joined our group, further reinforcing our
portfolio of top performing companies. We created our Chinese business unit in April 2003.

2006 was a much-awaited year and represented a long-term strategic step for us. It was the
year we launched a new brand identity and our values worldwide. This multi-layered launch
demonstrated, among other things, our dedication to you and your well-being, and reflected
our rich, multi-cultural diversity.

2007 was quite simply a landmark year for the group. On January 1st, our four French
companies - Mondial Assistance, France Secours, Elvia and SSC - merged to form Mondial
Assistance France, a unique entity and brand. In doing so, we confirmed and strengthened
our position in France. And true to our goal to grow internationally, we opened offices
in Mexico and India.
We also acquired Medvantis, a medical call-centre in Switzerland.
We registered our Russian office in 2007 and began operations there on March 1st, 2008.

Since January 1st, 2008 we have been operating under our unique brand name and speak
with a single voice. Across all 5 continents, we feel right at home in the 28 different
countries where we are present. When we say that wherever you go, we are always close
by, looking out for you, we really mean it! We really are everywhere, making sure you have
our help, anytime, anywhere.

You – our customers, and other stakeholders – were, are and always will be what
our business is all about.

OUR BRAND VALUES

Worldwide leader in
assistance services
and travel insurance

A PASSION FOR PEOPLE A GLOBAL COMMUNITY GOING BEYOND EXPECTATIONS
We are people who care about people. We are as diverse and widespread as We’re never satisfied to just wait for
The first thing on our minds every day you are. In fact, our strength lies in our your call. Each of you and your custo-
is your well-being. And to make sure diversity – the essence of our global mers is different. For us, part of helping
we are getting it right, we listen to you community. Have you ever wondered you is anticipating what you need be-
first to understand what you need. This why you can reach us and rely on us fore you call; and offering solutions that
open dialogue is second nature to us. anytime, anywhere? It’s simple. Because exceed your expectations after you call.
Why? Simply because we really do we are everywhere at all times. Our vast Solutions that surprise, innovate, and
care. An integral part of our job is ac- human and technological connections reassure above and beyond the call of
ting on our passion for people. At the and resources make this possible. You duty. When we put our proactivity to
end of the day, it’s about helping you, can point to a location on the globe and work, what we’re really doing is wor-
making you feel special, and reinforcing chances are, we’ve helped someone king to improve the way we serve you,
our relationship with you. there. continuously.

4,000
people assisted
every hour

550,000
text messages exchanged

“Helping people,
anytime, anywhere”

42 million
calls handled

EXPERTISE AT YOUR SERVICE TO EARN IT EVERYDAY
15 million
cases handled
We do not keep our wealth of skills Trust has to be earned. We know that.
and expertise for ourselves but make Whether it’s towards a relative, a friend
them available to you, when, where or a customer, we can win your trust
and how you need them. Whether you only one way – by showing you that we
or your customers need the full story, are dedicated, honest and reliable every
or just the answer, our years of profes- single day. Our goal is to make sure that
sionalism are the foundation of all our each one of your lives is safer, simpler
business relationships. We have built a and more secure. To do this, earning
reputation of excellence, and are proud your trust comes ﬁrst. Trust truly is at
that you are a part of it. the heart of what we do.

ANNUAL REPORT 2009 / Mondial Assistance 01

EDITORIAL

Of course 2009 was a very difficult year. Nevertheless,
when faced with the different financial and market
challenges, we demonstrated our ability to adapt
to the situation at hand and took full advantage
of the many rich resources within our international
group and within Allianz.

Our values in action.
During the ensuing crisis of 2009,
being Proactive, Connected and
Professional helped us meet our
objectives for profitable growth.
We achieved +4.8% in revenue
Rémi Grenier Ulrich Delius Ida Luka-Lognoné growth (+5.4% in real terms) and
maintained our level of profitability.
Throughout the year, Trust, our core
value, was the foundation on which
we nurtured relations with customers,
staff members and other stakeholders.
These factors combined enabled
us to reconfirm our global leadership
position in assistance and travel
insurance.
In our unfailing commitment to being
Jonathan Ansell Didier Lebret Laurence Maurice
Professional, we relied on several
of our historic activities to generate
growth. Online tourism had another
stellar year (+23%), while B2C grew
by 10%, driving an overall +4% growth
in travel. Health and lifecare had strong
Chairman: Chairman: double digit growth (+18%) while
President: Jean-Philippe Thierry Christof Mascher property and other excelled at nearly
Rémi Grenier Vice President: Vice President: (+30%). Due to the depressed
Members: Detlev Bremkamp Detlev Bremkamp automotive market, there was
Jonathan Ansell Vice President Vice President no growth in roadside assistance.
Ulrich Delius Delegate: Delegate:
Didier Lebret François Thomazeau François Thomazeau Sharing knowledge, expertise
Ida Luka-Lognoné
Members: Members: and innovations
Laurence Maurice
Dr Manfred Knof Dr Manfred Knof Major growth drivers in our mature
Dr Walter Gutberlet Dr Walter Gutberlet or saturated markets can be attributed

02 Mondial Assistance / ANNUAL REPORT 2009

“Together with the 10,231 staff members that make up
our group, we are proud to contribute to a universal cause, which
perfectly illustrates how and to what extent we care about others.
Our partnership with MASSIVEGOOD is an extension of our mission,
commitment to and passion for helping people anytime, anywhere.”

to experience sharing, transferring at +9%, +11% and +12% respectively. experience sharing, but also to
skills and continuous innovation. We also successfully entered the Middle our people strategy that will make
Whether for operations or sales, East airline market with the signing the difference. By recognising
we demonstrated our innovative of new contracts for our e-commerce and relying on the rich expertise
spirit by proposing services adapted travel insurance solutions. Reflecting and talents that comprise our group,
to the new technologies and lifestyle our “Connected” value, this new stage we will be able to pursue our growth,
trends of our increasingly mobile in our geographical expansion not only realise our 2015 ambition and better
world. These include Smartphone strengthens our relations with global serve our customers.
applications for roadside assistance, customers but also demonstrates a firm
SMS communication of intervention commitment to partners who wish to
requirements to providers, travel offer top quality services in every corner
insurance 2.0, or policies tailored of the world.
to travel customers’ specific profiles,
and a financial offer built on the Our commitment to Caring
concept of “banking for life”. Herein, A major highlight marked 2009 –
Proactive is expressed in its fullest the signing of our global partnership
dimension – sharing innovations agreement with MASSIVEGOOD,
so that success reproduces across an innovative humanitarian fundraising
Christof Mascher
the group, country to country, initiative, to be their strategic technical
business unit to business unit, but partner worldwide. We are now Chairman of Mondial
Assistance SAS
also with Allianz sister companies. concretely contributing to Supervisory Board
MASSIVEGOOD’s combat to fight COO of Allianz Group
We are truly international malaria, HIV/AIDS and tuberculosis by Member of the Board
and growing! providing a dedicated, 24/7 multilingual of Management of Allianz SE
We reaffirmed our international weight call platform to MASSIVEGOOD donors.
in 2009 with strong growth in the
Americas (+17% overall with +22% With an eye to the future
in the US and +7.6% in Brazil), and in 2010 is proving to be another
Asia Pacific (+18% overall with +13% challenging year due to continued strain
growth in Australia). Revenues remained and economic difficulties in certain
concentrated in Europe, where, although regions and market sectors. In this Rémi Grenier
overall growth was +2%, France, Spain context, it is our commitment to President of Mondial
and Switzerland reported strong growth continuous innovation, knowledge and Assistance SAS


KEY FIGURES

2009 ﬁgures

in million euros in million euros

2009 1,673 2009 56.0
2008 1,597 2008 62.6
2007 1,508 2007 57.1

in points number of people

2009 95.9 2009 10,231
2008 94.9 2008 9,817
2007 95.6 2007 9,356

per zone per lines of business by market
1.8% 7%
Corporate,
other & consolidation
20.3% Other markets 14%
Auto
Americas
37%
10.6%
Auto
47%
Travel
Asia Pacific
40%
39% Tourism

16%
Finance
67.3% Europe Health, Life & Home


MILESTONES

2009 Milestones

In Australia, Canstar Cannex awarded 5-Star Ratings to our
Worldcare Travel Insurance product brand at the inaugural
Australian travel insurance ratings awards.

Mondial Assistance China won the Best China Special
Service award, considered to be the most respected,
high-end customer service offered.

Our French business unit won Decision Achat magazine’s
Bronze medal for its e-procurement platform, purchasing
quality, innovation and supplier relationship management.

Our Polish business unit was honoured with the Firma
Przyjazna Klientowi award for its customer service quality
Last September, Mondial Assistance signed a global and customer friendly approach.
partnership with the Millennium Foundation for It also received the Przejrzysta Firma certificate,
, a global health initiative that allows a recognition of the company’s financial credibility and integrity.
travellers to make small financial contributions when they
purchase travel services online. Collected funds combat
HIV/AIDS, malaria and tuberculosis in developing countries.
Mondial Assistance Netherlands won the Dutch Insurance
Golden Shield award in the category Best P&C product 2009
for its new continuous travel insurance product launched
in September.

Our UK based subsidiary won the prestigious International
Travel Insurance Journal (ITIJ) Insurer/underwriter
of the year award.
It also received One Star Best Company Accreditation
for Best Companies 2009.
AM best also affirmed Mondial Assistance’s financial strength
in Q3 2009, honouring it with an “A” rating for Excellent.
Our American business unit received the prestigious
Silver Magellan Award in the Online Travel Services category
Following the annual review held in Paris in July 2009, by US trade publication Travel Weekly. This prize was given
financial rating agency Standard & Poor’s affirmed the financial for AgentMax, the travel insurance desktop application
strength and stability of Mondial Assistance International, for travel agents.
giving it a rating of “AA-”. It was also named Top 100 IT company by CIO magazine.
This award recognizes organizations around the world that
exemplify the highest level of operational and strategic
excellence in information technology.


Lines
of business


24/7
365 days per year

intervention

1 every
2 seconds

250
million
beneﬁciaries

LINES OF BUSINESS

TRAVEL
2009 world crisis hits the travel industry
In 2009 the global economy endured the greatest financial crisis
the world has ever known. The travel industry, among other industries,
was hit very hard. Then the Swine Flu (H1N1) epidemic spread and
magnified the financial crisis. According to the World Travel and Tourism
Council, tourism’s share in global Gross Domestic Product declined
from 9.6% to 9.3% between 2008 and 2009.

Today it is common knowledge. Never players reported a decrease in their online activity represents more than 50%
has the tourism industry had to weather activity, they were not nearly as affected of our overall travel insurance business!
such a storm as it did in 2009. According as the offline players.
to a Euromonitor survey carried out for To conclude on a more positive note, We’re committed to a clear,
the World Travel Market, the number the crisis lessened as the year went on, coherent strategy
of realised trips dropped by 8%, the with the travel industry even experiencing Our strategy for travel insurance is part
number of consumed hotel rooms slight growth during the final quarter. of the overall strategy for Mondial
by 16% and the number of issued airline Assistance. It is based on 4 main pillars:
tickets by 14%. Mondial Assistance delivers
top-notch performance thanks
Impact on the different geographical to online leadership
zones has varied: China, Southeast Asia In this critical context, Mondial Want to know what we do best?
and Latin America, excluding Mexico, Assistance’s continued growth in the It’s working with you and helping
weathered the crisis with either moderate Travel Insurance sector is all the more our client partners! Whether they’re
growth or moderate decline, whereas remarkable. This is primarily the result a travel agent, broker, tour operator
in Europe, North America, Mexico of our leadership position in online travel or online travel specialist, our goal
and Russia, decline in the travel/tourism insurance sales due to the many is to provide them with innovative,
industry has been more pronounced. partnerships we have established with customised and always surprising
leaders in this sector. solutions so that customers will come
As in the past few years, in 2009 we back time and time again.
noticed similar trends occurring in sales Of all the activities impacted by the These solutions include but are not
channels. There was a split between the growth in e-commerce over the past limited to insurance and protection
more traditional channels and online. 10 years, Travel has clearly benefited against lost or stolen luggage,
While for the first time a few online the most. The tourism online represented repatriation due to illness, medical and
27% in 2008 and 30% in 2009 of total hospital expense coverage when abroad,
sales. This figure should continue to reimbursed fares when your customers
grow in the years to come in all world must cancel a trip due to unforeseen
regions, including the most mature events, and vehicle repair in case of

+3.8%
markets like the United States and a breakdown.
Europe. And did you know that you can rely on us
for these solutions around the clock,
IN TURNOVER Very early on, Mondial Assistance around the world, 24/7? Whoever you
recognised the importance of riding the are, wherever you’re from and wherever
Internet wave, to the extent that in 2009 you’re going, our help is at your fingertips.
and for the second consecutive year, our So, relax and put your trust in us: you can


47%
OF MONDIAL
ASSISTANCE
TURNOVER
travel worry-free and receive exactly abroad. This information includes care
the travel services you expect: quality, hygiene, equipment, illnesses
• solutions for business travellers; treated and so on. Each structure
• assistance solutions for holidays receives an annual evaluation visit, and
abroad; our medical evaluation team regularly
• leisure and sports solutions for adds new structures to the database.
specific activities such as skiing, golf; In 2009, the database cited 1,451 We have a very pragmatic commercial
• holiday accommodation solutions; hospitals in 529 cities in 130 countries. approach to how we manage our
• Schengen zone solutions; We also assess the quality of medical international requests for tenders. We’ve
• Globetrotter solutions. structures located in airports as an set up an international travel sales team
efficient way to assist airline companies whose primary job is to respond to our
in case of an aircraft diversion. international partners’ demands for
This program, called “Inflight Medical online solutions. This team must
Where do we truly excel in our year-by-year Support”, was launched in 2008. co-ordinate local business requirements
achievements? We would have to say Today, there are 215 evaluated airports in line with our partners’ international
in medical assistance services. For years in our worldwide database. Only a few strategies, and sell and implement travel
now, and 2009 was no exception, we international travel players have such insurance and assistance in several
have carried out hundreds of thousands a database at their disposal. So, if you countries. This is possible because
of medical assistance and repatriation want that extra service, that extra of the close, transparent collaboration
interventions for our customers. quality and that extra peace of mind that exists between this team and
In 2009, that figure reached 700,000. when you travel… look no further! our different business units, our forums
You may very well ask how we You’ve come to the right place for exchanging information and best
do this? Well, it’s thanks to our multi- at Mondial Assistance. practices.
lingual travel and medical assistance
specialists around the world who are on
call 24/7. While you rely on us, we rely
on our comprehensive international
network of top-quality, certified service
providers and 180 international In 2009, we actively pursued deployment of Travel Insurance 2.0.
correspondents. This revolutionary solution was developed internally to help generate
Our medical team helps you in more increased sales in online travel insurance. It is based on a real-time
ways than one. Our internationally exchange of information that makes it possible to customise a travel
experienced and qualified doctors have insurance offer according to a customer’s travel profile. After Travel
evaluated hospitals and clinics in Insurance 2.0’s successful launch and deployment in the US, it is now
countries with tourism where medical being used by our main partners in Europe, where it was introduced in 2009.
coverage is questionable or inconsistent. Use of Travel Insurance 2.0 should expand greatly in other regions in 2010.
Their goal? To optimise the healthcare This technology is deployed over a platform that responds to the market’s
you may need with a database built most demanding criteria in terms of availability and response time. We’re
from first-hand, professional visits. committed to staying on the technological edge; so, year after year, we
This database provides our 500 doctors continue to invest in this IT platform. It’s just one of the ways that we can
and medical staff with critical information stay ahead so that you can benefit the most from our increasingly wide offer
about the establishments where patients of innovative, quality products and services.
are likely to be hospitalised while


LINES OF BUSINESS

AUTO
Change and its impact on customers.
At a time when new vehicle sales are still under enormous pressure,
we have set our sights on the future, focusing how customer
needs will evolve and how we should respond to them.

Reshaped industry sets now consider their vehicle’s impact that our industry-leading, operational
a new world stage on the environment. Taxes and running capabilities are delivered as efﬁciently
We witnessed a major trend when costs will be inextricably linked to CO2 as possible. We also optimised our
the 2009 global ﬁnancial crisis outputs, and consequently OEMs are internal cost drivers and managed our
combined with industry over-capacity: looking at alternative technologies to supply chains to ensure that we were
OEMs (Original Equipment provide cars with low environmental in the best position to win new business
Manufacturers) began to work with rivals impact, without compromising in an increasingly competitive, global
or merged or divested to ensure ownership experience. market. Our relentless efforts paid off.
longer-term survival. Fiat and Chrysler Today we are the largest supplier of
came together; Volkswagen acquired Hard fought success in 2009 roadside assistance services for PSA
Porsche, and GM sold Saab to Spyker. 2009 was possibly the busiest year in Europe! Our partnership with Toyota
ever for our automotive sales teams. has grown to include France and Ireland;
The automotive world order also As expected, OEMs revisited their we secured Honda’s business in
changed. Today Toyota is the n° 1 supplier contracts to reduce their cost Scandinavia and the Nordic markets;
global automotive brand, and China base, but the level of activity surpassed and we partnered with Volvo in the UK
has overtaken the US as the world’s previous years. We continued to invest and Russia.
largest car market. Car owners must time, money and resources to ensure

37%
OF MONDIAL
ASSISTANCE
TURNOVER


7 MILLION
CASES
HANDLED

CRM – Our core business A bright, green future
and key competency Today we are looking well beyond
All requests for assistance or information 2010. Shoptalk is on hybrid
are also an opportunity to strengthen and electric vehicles. Although
our bond with customers. Why? invented back in the 1830s, current
Because every connection counts. legislative and regulatory actions
worldwide, and strict requirements Change is one of life’s constants,
What sets us apart? We treat our for air emissions have renewed and we understand that races are
customers – OEMs, leasing companies, development efforts in this domain. never won by standing still. Central
fleet providers, banks, insurance There is not a single car manufacturer to our ethos is a ferocious desire
companies – with professionalism, that does not have or is about to to continually seek ways to im-
respect and as individuals! This is our have a hybrid or electric vehicle prove what we do and how
we do it.
modus operandi and abiding philosophy. on the road.
2009 was a year of lifestyle
changes and the emergence
We cover the following services: And we’re ahead of the game. of new technologies. So we
• Roadside assistance: repair and We are the first provider of roadside responded by making big
towing for broken down/immobilised assistance for hybrid vehicles in Europe, investments to adapt our services
vehicles. supporting Toyota Prius, Lexus hybrid, to these evolutions.
• Accident Management: towing, MINI and smart electric vehicles. Our colleagues in Brazil developed
replacement vehicle, car repair a Smartphone application that
• Used car and extended warranty So indeed, the future looks bright allows users to request roadside
programme management and green! We understand how this assistance from their iPhones,
• GAP (guaranteed asset protection) technology will change our business and soon Blackberries. Customers
have quick access to our assistan-
• Service program management model and how customers’ expectations
ce network and we can pinpoint
• Telematics: GSM localisation, will evolve. We will continue to push
their precise location. This ensures
post-theft notification and tracking, the boundaries and help our clients that help gets to the right place the
navigation, remote door unlock, to deliver the loyalty solutions that will first time and as fast as possible.
remote controlled breakdown sustain their businesses. In the UK we have developed
diagnosis, and concierge services bespoke branded web portals
(best routes, weather, traffic, legal that allow OEM end customers
assistance…) to renew warranty and assistance
• Customer Relationship Management: coverage online. They can tailor
telemarketing, customer surveys, the product to their lifestyle
loyalty programs, lead generation and budget, and pay monthly
or all at once.
and event management


LINES OF BUSINESS

HEALTH, LIFE AND HOME
Your Health, Your Life and Your Property - they matter to us.
Health and Lifecare assistance is our 3rd line of business, launched
several years ago. It has been growing continuously ever since.
Healthcare assistance focuses specifically on your health while
Lifecare is more generally concerned with daily well-being.

Another dynamic year portfolio to include 14 pharma We have the right care
for a sector on the rise companies for 21 prescription drug for everyone
Today the world’s population programs. Today, with more and more Healthcare
is increasingly mobile; people travel business units playing an active local role • Dependency. These are short
more and opt for long-term stays in disease management, our credibility or long-term services to help you
abroad. This requires having specific among industry players is very solid. recover if you are temporarily
knowledge of local healthcare systems. dependent, or stay at home if you
In 2009, we reinforced our specialised Local initiatives drive growth are permanently so.
health insurance for specific mobile Our 2009 business growth can also • Personal Response Services.
groups wishing to spend extended be attributed to a certain number of Being able to reach someone
periods of time overseas: students, local initiatives: immediately when you’re not feeling
expatriates / impatriates. Our student Demand management provides medical well is essential. So we offer state-of-
insurance solutions are one such information to patient beneficiaries before the-art technological devices that
example. They enjoyed steady growth, they take medical action. It is designed monitor your home and facilitate
particularly in Australia, where we are to provide accurate, personalised advice communication, location and
market leader and have for many years and information when hospitalisation, triggering alarms. These services
engaged in numerous partnering consultation or self-medication cover 24/7 tele-assistance and
activities with local universities and is unjustified. tele-medicine.
schools. Student health insurance has Alzheimer’s is a two-year French • Young travellers and
also been very successful in Germany. project launched early in 2009 in expatriates / impatriates.
partnership with a local government We provide semi-permanent or long-
In addition, with people living longer, authority. The aim is to work with term medical assistance and travel
disease management is critical. 200 Alzheimer patients during the first insurance for students and employees
So, in 2009 we also strengthened our year and 200 additional patients the because we know that the
partnerships within the pharmaceutical second. It involves close coordination unexpected can happen anywhere.
industry. We increased the number with healthcare providers, patients • Disease Management and Patient
of disease management programs and their families. Support. If you suffer from a chronic
to 30, and extended our partnership Orphan disease initiatives were disease, impairment, abnormal
launched with several European pharma functioning, or belong to a specific risk
companies. The aim? To make life easier group (tobacco, memory ageing…),

16%
OF MONDIAL
for patients by setting up healthcare
and logistics networks for managing
drug supplies and administration
then you may fully benefit from these
assistance services.
• … and Nurse Triage, Employee Health
around the world so that patients no Assistance, Medical counselling,
ASSISTANCE longer have to suffer the uncertainty Third Party Health Administration,
TURNOVER of not being able to get treatment Rehabilitation Management, Prevention,
when they leave home. Second Medical Opinion, and so on.


+22.8%
IN TURNOVER

Lifecare Let’s get personal: a leaky tap to a flooded community, we
• Daily life services. We help you get your property is our business! have a flexible, customised solution to
through everyday so that your life can A property mishap? A property crisis? meet your needs. 24/7. We offer tele-
be a little bit easier (babysitting, Most of us have been there before. security for home and office surveillance,
cleaning, gardening, etc.). This could be as minor as a faulty but protection services and warranties
• Employment Assistance. Do you easily fixable electrical system, or for your credit cards and mobile phones,
need help finding a first job, or getting as major as a flooding water pipe CRM programs, concierge services
a new one? Do you plan to retire? or a fallen tree across your roof. Some and round-the-clock information call
What about career assessment advice of you have experienced natural centres for public inquiries. And just
or just an understanding ear? We’re catastrophes. Others have lived through to let you know, we’re redesigning
here to give you all the support you week long black outs. Whatever your our Home Assistance offer to include
need, when you need it. line of work, whoever and wherever your possible solutions that could be
• Bereavement and Funeral customers may be, we’re here to help distributed via our utility clients, thereby
Assistance. you help them if and when adversity broadening our offer to reach more
• Retirement Assistance. strikes. No matter how big or small. people everywhere. For us, it’s all about
Property and Home Assistance – three getting closer to you to take better care
small words for a great big offer. From of you and your belongings.

Our partnership with Working with an insurer to enhance Disease Management services
a French bank enhances health obesity and nutrition awareness for 60+
assistance coverage Designed for an insurer’s customers, Partnering with a large French
We have built a strategic distribution ages 18 to 65, the program helps insurance company, we have
partnership in France with one of them adopt and maintain a healthy developed a 4-year disease management
the country’s largest banks to enhance lifestyle. It includes advice on nutrition, program to reduce the occurrence
healthcare protection for their young eating habits and age-appropriate of diseases that decrease life expec-
customers when they are travelling exercise to lose weight and maintain tancy or lead to severe disabilities.
abroad. This coverage targets long-term health and vitality.
Employee Assistance Program
12–28 year olds, and offers them
Lifecare services for 60+ We have developed a new Employee
security, safety and peace of mind
Working closely with a leading German Assistance Program in collaboration
when they are far from home.
insurance company, we have develo- with insurers, banks, pharmas
ped a full range of lifecare services to and large IT companies. It provides
help people over 60 who are reco- everything from daily life services and
vering from an accident, and who health counselling, to administrative
are either temporarily or definitively and social support, and stress
dependent. prevention programs.


International
presence


Business
units in
countries 28
10,231
Staff members

40
languages

INTERNATIONAL PRESENCE

How can we help?
How can we help?

How can we help?

How can we help?

How can we help?

How can we help? How can we h

How can we help?

How can we help?
Ho
Ho
How can we help?

How can we help?
How can we help?

WE COVER THE WORLD
Assisting you with a worldwide network
designed to help!

Our international network is built on competence
and geographic presence
The promise we make is that we’re here counsellors to social service workers,
to help, wherever you or your customers our network of specialists assists you
• 24-hour availability
happen to be. This is why we work with and your customers with every need,
• Best price/quality ratio
more than 400,000 highly qualiﬁed anytime, anywhere.
• Ofﬁcial credentials
service and assistance providers We have a dedicated international
• Cashless access to services
and 180 correspondents worldwide. team at group headquarters in Paris
• Guarantee of appropriate and
From transport technicians to medical that selects, manages and controls
well maintained equipment
experts, home repairmen to legal our network of providers.
advisors, employment and retirement


How can we help? ca we help?
How can

elp? How can we help?

How can we help?

How can we help?
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How can we help?

How can we help?

How can we help?

Countries with group ofﬁces Countries with a commercial activity Our special partner

How can we help? How can we help? Switzerland Lebanon How can we help?

Brazil Austria The Netherlands Norway Australia
Canada Belgium Turkey Sweden China
Mexico Czech Republic UK Ukraine India
USA France Uzbekistan Japan
Germany How can we help? Moldova Singapore
How can we help? Greece Bosnia/Herzegovina Slovak Republic Thailand
Argentina Ireland Bulgaria Hungary
Chile Italy Serbia/Montenegro Romania How can we help?

Colombia Poland Croatia Malaysia
Portugal Slovenia How can we help? New Zealand
Reunion Island Baltic Countries Morocco South Korea
Russia Denmark Taiwan
Spain Finland



ASIA-PACIFIC
While Asia Pacific was not spared the world’s
economic downturn or the year-long struggle,
all business units in the region contributed to a
significant growth in profits. These contributions are
the result of strong, clear leadership in challenging
times, an increased focus on our core businesses,
11%
OF GROUP
innovative product development and investments
in cutting edge technology.
TURNOVER

Despite challenging market conditions, All lines of business — medical Mondial Assistance China also added
Asia-Pacific’s performance in 2009 assistance, travel insurance, automotive, some prominent financial institutions
was strong, all business units within property assistance and overseas student to its growing list of partners, thereby
the region contributed to this growth. health insurance — reported strong increasing its margins and revenue
growth, with e-commerce innovation across this segment.
The Australian business continued underpinning our dominant position A new nationwide travel insurance
to impress with double digit sales in travel. In line with group policy fronting solution allowed the business
growth in each of the markets in which to seek growth in strategic new areas, to further develop and enhance its
it operates. China, Japan and India we also reached across the Tasman comprehensive travel insurance offer.
showed exceptionally strong growth to significantly expand our market Finally, synergistic technology
levels in market conditions which presence through a partnership with innovations sustain the growth delivered
ranged from mature to subdued. leading New Zealand travel company, by our marketing initiatives and improve
Two loss making entities were House of Travel. our “added-value” performance
restored to profitability through in the demanding Chinese market.
strong commitments by their senior success through
management teams. growth and innovation across leaps ahead
all product lines in Automotive Assistance
climbs the ranks 2009 was an active growth year for Since we launched our operations
to reach n°3 in revenue! Mondial Assistance China. Our Chinese in India in November 2007, Mondial
Who ever said that growth is not entity launched new custom-designed Assistance has proudly pioneered
possible in a crisis year? Certainly not roadside assistance programs, which led the assistance field, creating increasing
Mondial Assistance Australia! Our to the successful addition of several new demand for roadside assistance,
Australian business demonstrated car manufacturers to the portfolio. establishing professional roadside
its exceptional resilience and capacity The business reported a 60% increase assistance services throughout
for growth with a 12.9% (in EUR) / in assistance cases and a corresponding the country and expanding into
19.5% (in LC) increase over 2008 69.6% (in EUR) / 57.4% (in LC) increase in customer relationship management
revenue. This moved Australia from revenues. It earned higher service quality services for customers. We are
fourth to third highest in annual turnover and customer satisfaction scores, while currently managing CRM programmes
within our group — impressive for closely containing operating costs through within the automotive, insurance
a country with a population of only enhanced personnel training and targeted and financial services markets.
22 million! operating efficiencies. Another leap ahead is the recent


partnership we have built with Mahindra assistance services and other lines such investment in innovative e-commerce
and Mahindra, one of India’s largest as inpatient assistance, our maintenance travel insurance products, and to
suppliers of utility vehicles. This has pack program, pet insurance and the the expansion of our distribution
helped to firmly establish us as extended warranty business contributed into general insurance as a means
the market leader in roadside assistance. to 2009 growth. to provide roadside assistance
Indeed our leadership is partly reflected The Millea Mondial team exerted services.
in the 217.9% (in EUR) / 236.4% (in LC) continuous focus on keeping operating
growth we have experienced over the costs down, and made specific efforts slow growth but
past twelve months! Mondial Assistance to reduce operating platforms and solid returns
India continues to develop its business telecommunications costs. As it was for many other countries,
based on two fundamental principles: In an effort to further enhance our 2009 was an unsettling and challenging
an unwavering commitment to provide quality commitment to customers, year for Thailand. The market was
customers with innovative solutions we established a second operations initially affected by the negative impact
along with quality, caring, professional centre. This initiative has resolved of the global economic crisis; however,
service. capacity restraints due to the rapid the year and the market closed on
expansion of the business, and has a more positive note, with a 21.5%
enhanced growth and allowed us to create a disaster (in EUR) / 19.6% (in LC) growth. Our
profit in a challenging environment recovery facility. Thai business continued its vigilance
2009 was another solid performance in relation to costs, thereby enabling
year for Millea Mondial. Even within increased dynamics the entity to report strong levels of
a challenging economic environment, in travel insurance and roadside profitability for the year!
sales revenues climbed 62.1% (in EUR) / assistance
38.75% (in LC) and profitability was Our Singapore entity achieved a 13.1%
further enhanced. We are proud to say (in EUR) / 9.7% (in LC) growth in sales,
that we have maintained cumulative an outstanding result given the
profit since our joint venture was first nature of the operating environment.
established in 2006. Traditional roadside It can be directly attributed to the EUR: euros / LC: local currency.

+17.9%
IN TURNOVER



AMERICAS
Another record year in a challenging economy.
The Americas zone was the group’s largest growth
driver for revenues and profit thanks to online
specialty insurance. Innovative product development
and strict cost control allowed us to secure
our financial performance against the economic
downturn. But we never compromised on quality
20%
OF GROUP
service. Clients and employees expressed strong
TURNOVER
satisfaction levels in 2009.

introduces the ultimate infrastructure and obtained payment growing current clients and acquiring
assistance self-service tool card industry level 3 compliance strategic new businesses. The US
Brazil reported excellent 2009 results, certification. Employee engagement business unit is the second largest in
once again posting double-digit growth. was among the highest in the group revenue, leads all entities in travel
With a well-deployed, successful at 87% thanks to greatly improved insurance sales and is the market leader
diversification strategy, our Brazilian internal communications. in online travel and ticket insurance,
business unit consolidated its lead which experienced dramatic sales gains.
position in the overall market and consolidation Our focus on technology, specifically the
particularly in the travel insurance of Travel Insurance AgentMax desktop software for travel
segment. It focused on gaining direct In September, our business unit in agents and the expanded use of travel
end-consumers and launching niche Mexico successfully launched its first insurance 2.0 among online partners,
products. Brazil’s star accomplishment travel insurance program with the was a significant growth driver.
in 2009 remains DIRECTASSIST, a free country’s largest carrier. Our Mexican
Smartphone application that offers entity also began operations with major EUR: euros / LC: local currency.
end-customers a 24/7 one-touch, players in the finance industry to provide
talk-free access to assistance services. home assistance, funeral assistance,
This unique application converges and claims management while
the Internet, GPS and the mobile phone, continuing to coordinate all Mexican
thereby revolutionizing the way we help assistance files for the group. It is fair
our customers. to say that we have quickly established
ourselves as a quality reference in the
a watershed year Mexican market.
with a strong turnaround
Continued focus on innovative cost- double-digit growth
containment strategies and corporate for the fifth consecutive year
governance resulted in a very strong Despite a downturn in the American
year for our Canadian business unit. travel industry, our US company had
It exceeded its 2008 results by 231%! another strong year, with 22.7%
With an eye to existing and future financial
services clients, Canada enhanced its IT
(in EUR) / 15.8% (in LC) revenue growth.
The keys to success? Retaining and +16.1%
IN TURNOVER


EUROPE,
MIDDLE EAST AND AFRICA
Despite extremely challenging conditions,
EMEA experienced growth and overall strong
performances in 2009. Depending on market
specifics and maturity, our business units focused
on diversification, building e-commerce, IT
investments, implementing best cost containment
measures and improving our carbon footprint. 67%
OF GROUP
Innovation was at the heart of the region’s success. TURNOVER

SEE hub And once again we demonstrated commercial success
weathers crisis with excellent commercial creativity and dynamism and innovations in 2009
performance through a sales promotion campaign Our French business unit posted strong
Despite the unfavourable business that focused on a key annual product results in 2009, despite the declining
environment, our Austrian business and brought together more than economy. Turnover was up by 9.1%, the
unit achieved a solid 2.7% (in EUR) 200 major clients. result of significant commercial initiatives
increase in revenues. With its and actions across all sectors. Teams
geographical expansion towards successfully developed portfolios with
SEE (South Eastern Europe), success despite major accounts across all business lines,
our Austrian entity further established tough market conditions and enjoyed many contract renewals with
itself as a regional hub, serving more Our business unit in Prague began top players. Our French entity signed a
than 10 countries. In 2009 travel its second decade of successful partnership agreement with a leading
and roadside assistance remained collaboration with Allianz Prague and Japanese automotive manufacturer.
the dominant lines of business. Allianz-Slovenska Poistovna Bratislava. Our healthcare and energy solutions won
With group support, we significantly the attention of new clients as well, and
diversification enlarged our customer portfolio in we were awarded with new agreements
generates strong growth assistance services and travel with sports equipment distributors and
Our Belgian business unit continued its insurance, and secured several major several camping networks. Growth
development during 2009 with a record new contracts in vehicle assistance. We continued with additions to our portfolio
growth in revenues and improved also won an international tender for the of mutual insurance companies.
profitability. We formed a new lifecare KBC Group for which our Prague entity Tourism online (excl. B2C) grew
partnership with an HR services now coordinates KBC presence by 27.3% in 2009, a trend that should
company, and enjoyed significant overall throughout Central and Eastern continue with the launch of France’s new,
growth within the healthcare sector. Europe. These and other focused more user-friendly website in 2010.
The business unit has now established business acquisition efforts helped Innovation was high on the agenda.
its credibility in the pharmaceutical mitigate the negative impact of the We launched “MIRA Mobile”, a mobile
sector and is proud of its portfolio year’s economic crisis. Our Czech version of our electronic missioning
of solid references. In addition, a new entity also completed its TOM (target system for service providers, as well as
win with a major automotive client operating model) targets to fully align a telephone for female victims of violence.
further reinforced positive turnover. its organisation with the group’s Our French business unit launched
standards.



several other socially-oriented initiatives in the health and lifecare and financial crisis in travel industry
as well, for the elderly, assistance givers sectors. Our German entity enjoyed shapes market in 2009
and active young people. To combat strong growth in its travel activity, Our Italian entity was severely
the economic crisis our French entity the largest share of its business impacted by the 2009 economic crisis
undertook an important operation portfolio, thanks to a healthy increase in the tourism industry. Business with
to streamline costs and optimise in annual policies. A major 2009 the Allianz group, the banking sector,
processes, and cut down on paper highlight was the repatriation of a baby, motor vehicle manufacturers and
consumption transforming 2 million paper known as the “Julia Assistance Case”, companies like Mediaworld generated
documents into electronic files! which the group made into a movie! a big part of turnover. The drop in tour
Telesecurity is booming with excellent operator portfolio revenues was
profit, and in Reunion Island, both private innovative actions fortunately compensated for by new
and public clients are reinforcing their help foster growth in trying times tour operator contracts, individual
partnerships with our company. Our Greek entity’s excellent customer Globy travel policies, a +40% increase
services and ability to successfully in direct online revenues, and a strong
best practices help implement innovative change no doubt expansion of our assistance portfolio,
achieve top results contributed to its success in 2009. in particular for ‘white and brown
Despite tough competition, our Even the new towing legislation goods’ warranty extension guarantees.
two German business units achieved combined with the poor economy The profound crisis in the travel market
good combined top-line results and could not slow us down. Our business has also caused an enormous liquidity
further reduced their operating unit reported a very successful +21,4% crisis for tourism players. As the market
expenses. Their approach? Successful growth, thereby maintaining its lead leader in the travel insurance field,
business process re-engineering, the position in both the automotive Mondial Assistance Italia has had
deployment of best practices and tight assistance and travel insurance markets. to cope with bankruptcies in
expense management. Initiatives to We designed new services, including the industry and make subsequent
further capitalize on online channels was accident management, and have provisions which has had an effect
very successful. Furthermore, efforts begun to develop an agent/broker on results for 2009.
to continuously optimize the business network to promote our assistance
portfolio structure paid off, producing services and products through a new
expected results with solid growth distribution channel.


financial stability IT investments and persistent
within a difficult context reinforced presence in healthcare development of roadside assistance
Although the global economic crisis 2009 was a year of consolidation for After the successful launch of operations
negatively impacted business partners our Portuguese business unit. After in 2008, our Russian business unit set
in Poland, particularly in the financial several years of growth, the company its sights on becoming the country’s
and automotive industries, our Polish restructured. It also implemented a new leading roadside assistance provider.
business unit weathered 2009 very well. IT System that helps improve service During 2009 it was fully committed
It enjoys financial stability and hopeful provider capabilities, such as reducing to building the most extensive provider
prospects for development. A few time to send tow trucks to end users. network in the market. These efforts
highlights in 2009 include signing This new system has also helped to paid off and it now delivers services
agreements with key automotive brands, improve in-house management tools. in more than 100 locations. Our Russian
insurance companies, and banking Our Portuguese entity strategically entity also reviewed and optimized
partners. Our Polish entity is currently in focused on its core businesses internal business and operational
the process of developing new product in 2009 and reinforced its presence processes to be able to meet the heavy
lines around extended warranties in the healthcare sector by offering increase in demand. It successfully
and tele-assistance, and expanding new clients training programs in drug added 6 new automotive brands
its distribution channels in B2C. With administration and follow-up. to its client portfolio and focused
signs of improvement in the market, on developing key partnerships with
it is looking forward to a recovery in Russia’s major automotive distributors.
the automotive sector and is optimistic All of these efforts have led, not
about the future. surprisingly, to a considerable growth
in our market share!



it just keeps growing

+1.9%
IN TURNOVER
Despite the global crisis, which
negatively affected all sectors in 2009,
our Turkish business unit had stunning
4.2% (in EUR) / 18% (in LC) growth,
bringing its combined ratio to 92.5%.
Through proactive measures, it
minimized costs in network
growth management by altering towing rates,
and resilience in the downturn and at the same time, developed its
The Swiss market demonstrated customer portfolio. Growth in both
great resilience during the global the insurance and banking sectors
economic downturn. With a strong continued with the recent signing of
12.4% (in EUR) / 6.9% (in LC) growth a partnership agreement with a major
in revenues, our Swiss business unit travel player. A highlight in 2009 was
achieved very satisfactory top and implementing Unity, an effective IT tool that
bottom line results. The health and helps improve the quality of customer
lifecare and automotive businesses services. So far, the new system has
(including Medi24) greatly contributed paved the way for increased productivity
to this performance. Furthermore, and more efficient cost containment.
consumer specialty insurance initiatives
such as extended warranties for white
and brown goods and mobile phone innovation to grow
insurance products also positively Our UK and Irish business units were
contributed to a well-balanced particularly challenged in 2009 as a
new product launches
business portfolio. result of the economic recession.
and an improved carbon footprint
Despite this, our teams made new
Our Spanish business unit consolidated
maintaining business wins throughout the year with
2009 results in an environment greatly
stability in a year-long challenge particular success in B2B2C. This all
impacted by the severe economic crisis.
Despite the difficult market and contributed to strong operating results.
To combat the situation, our Spanish
economy in 2009, our Dutch entity Innovations were at the centre of this
team worked throughout 2009 to
maintained a stable turnover and success with further deployment of
improve its online customer services.
improved its bottom line results. online automotive warranty and travel
The entity also launched a new
How? It acquired several important new insurance platforms. M-commerce
assistance product that provides a wide
clients and improved its operational was high on the agenda resulting in
range of legal services, such as legal
efficiency. Our Dutch business unit also a significant business win with a major
counsel, legal defence and legal
continued to focus on new product mobile telecoms provider.
documentation. The crisis also led to a
development, which saw the successful Our UK business unit continues to be
steep drop in employee travel. The
launch of several innovations: a new recognized for its customer service
upside was a significant drop in
annual travel insurance product and the excellence and is amongst the region’s
employee-generated CO2 emissions,
first European digital owners booklet top three providers of dedicated
which were down 18% compared
produced together with a car roadside assistance, travel insurance
to 2008, and it further improved
manufacturer. Since mid 2009, administration and automotive warranty.
its carbon footprint by reducing its
in close collaboration with the Ministry Investment did not stop with technology;
paper consumption by 17%!
of Transportation, we have handled all HR, Internal Communications and CSR
automotive accident cases on main offered strong support throughout the
roads throughout the country, which year to boost employee engagement
has allowed us to expand our network and successfully implement innovative
into the semi-public sector. change.


improved focus for future
development
In 2009, Mondial Assistance heightened
its focus on the Nordic & Baltic
regions, as both the automotive and
e-commerce travel insurance activities are beginning
activities begin! to show promise of development there.
Throughout 2009, together with We strengthened our automotive
the Allianz network in the GCC (Gulf presence by signing a new pan-regional
Cooperation Council) and speciﬁcally roadside assistance agreement.
selected partners, Mondial Assistance At the same time, many car manufacturers
in the Middle East seized opportunities conﬁrmed their demands for renewal
with local leading GCC airlines. products. We also successfully
To launch its operations in the Middle developed and launched a CDW
East, Mondial Assistance International (collision damage waiver) product,
initially outsourced handling of travel part of our consumer specialty insurance
claims to one of its sister Allianz solutions. In order to fully develop
companies in Bahrain, while using business in the region, the group
Mondial Assistance UK’s medical and has agreed to redesign the Nordic
IT platforms. In the future we hope to organization and appoint a dedicated
open a small local operations platform country manager, who will work closely
in the region. with our local partners.

EUR: euros / LC: local currency.


Financial
results

+4.8%
growth


56 million €
net proﬁt

1,673
million € turnover

FINANCIAL RESULTS

REVIEW OF OPERATIONS
FOR THE YEAR 2009
Report on the activity of the Group and its subsidiaries in 2009
Economic situation The contribution by Mondial Assistance Asia continues to grow, with a contri-
France, World Access Inc. in the USA bution to the Group’s operational result
2009 was mainly marked by the world eco-
and Mondial Assistance Australia ac- reaching 10% against 9% in 2008. Addi-
nomic crisis. In this unfavourable situation
counted for 44.3% of total sales in 2009, tionally, in Germany, a loss-making con-
the economic position of consumers and
against 41% in 2008. tract with a tour operator is the reason
businesses deteriorated considerably.
for the 2009 technical loss. In Portugal
In France, travel insurance sold online and the Group continued to turn round loss-
Except for Asia (powered by China)
new customers in the automotive sector making business begun in 2008.
and Brazil, the car market was greatly
made up for the erosion in rates seen on
affected by the crisis. New vehicle sales fell
traditional markets. In the USA, growth was
except in France and Germany where gov- Investments and financial
driven by online sales and by a new product
ernment measures were introduced. result
covering the cancellation of event tickets.
The travel industry was also very much af- At end December 2009, the Group’s port-
fected by the economic crisis and by the In Asia, Australia posted strong organic folio came to 603 million euros which is
impact of the swine flu epidemic. According growth in travel and health insurance 39.8% of assets, up 4% on 31 December
to the World Travel and Tourism Council, the while the China portfolio reached the 2008. Investment policy continues to favour
contribution from tourism to GDP fell from critical size of 16 million euros. short term placements with a low risk profile
9.6% in 2008 to 9.3% in 2009, and ac- (bonds, short term deposits).
cording to Euromonitor the number of trips Operational result
made was down 8%, with the number of air The operational financial result came to
tickets dropping by 14%. The Group’s operational result came to 27.9 million euros, down 0.7 million euros
94 million euros, down 14.2% compared compared to 2008. The result from invest-
The impact of the crisis was very marked to 2008 but in line with budget. ments fell by 11 million euros which was
in Europe, North America, Mexico and in line with the decline in financial yields.
Russia. The change is due to the deterioration in Book profits from financial management
the combined ratio resulting from a rise fell from 4.25% in 2008 to 2.92% in 2009.
in insurance claims offset in part by strict The impact of negative exchange rates
The Group’s activity control of internal costs. of -8.2 million euros in 2008 was up at
In spite of the difficult economic situ- +1.8 million euros end 2009.
ation, total Group sales which came to The rise in claims was felt in travel in-
1.7 billion euros were up 5% compared surance in particular where the volume
Net result
to 2008. Business in Europe was most of cancellations increased significantly
affected by the crisis with growth of in the first part of the year because After the tax charge (38 million euros)
around 2% whereas growth areas in of the reduction in consumer purchasing and a non operational result of 2.3 mil-
Asia and the Americas posted two figure power. In addition, an increase in claims lion euros mainly from investments, the
growth rates of 18 and 17% respectively. was seen in roadside assistance in the Group’s net result came to 56 million
second half and was even more marked euros, down 10.5% compared to the
With sales of 790 million euros, up 4% in the last quarter in continental Europe. 2008 financial year.
nearly on 2008, travel insurance prod-
ucts accounted for 47% of total sales. The contribution by Mondial Assistance
Profitability
Roadside assistance sales were sta- France accounts for 32% of the total op-
ble at 623 million euros. Sales of health erational result against 38% in 2008 and On the basis of an average amount of
products were up by 18% while property the contribution by the Americas now equity of 393.9 million euros, the return
damage products increased by almost represents 26% of the total operational on equity for 2009 came to 14.2%.
30%. result against 14% in the previous year.


Mondial Assistance Annual Report 2009

Mondial Assistance Annual Report 2009

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Mondial Assistance Annual Report 2009