A life insurance product from Raiffeisen Polbank, the Polish subsidiary of the Austrian Raiffeisen group, has returned 119.2% after two years of investment, earning Polish investors annual interest of 9.18%.
Recepta na Zysk (Prescription for Profit), which was linked to a basket of nine pharmaceutical shares, was designed by Raiffeisen Bank and life insurance company TU Europa. “The product was carefully designed based on both internal Raiffeisen’s sector analysis as well as insurers,” said Michał Glinka (pictured), investment products director at Raiffeisen Bank Polska.
Raiffeisen Polbank took into account a number of factors when it decided to launch the product said Glinka. “At the time we looked in to the market/sector conditions and in particular those with an especially good outlook,” said Glinka. “Additionally we opted for a customer-friendly formula, where special attention was paid to comprehensibility for individual not sophisticated clients and limited remuneration appetite on the bank’s side,” he said.
According to SRP data, the life-insurance product was the best performing product in Poland this year to date.
Getin Noble Bank’s Piątka na Zysk 5 is the second best performing product in 2015 in Poland. The unit linked policy earned investors 30% after three years (9.14% annualized compound interest).
The product which is linked to a basket of four shares (Orange, GlaxoSmithKline, Bank of China and Mondele) and the Polish WIG20 index was launched by TU Europa under the name Nowy Strzał w Dziesiątke and also distributed via Idea Bank and the financial advisers of Open Finance.
Careful analysis of the market trends and cooperation with experienced investment banks allowed us to create products that bring customers high profits said Andrzej Popielski vice-president of TU Europa Life in the company’s memo. “Equally important is the quality of cooperation with distributor partners. We are committed to transparent communication with customers, which is why we make sure that the advisers have full access to information about products and able to provide precise answers to clients,” he said.
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