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National Health Insurance (PSN) obtained during the 2021 financial year, after tax, profit of 1.8 million euros at the end of last year, registering a growth of 200% compared to 2020as has already been said at the insurance company's General Assembly of Associates, the highest decision-making body, in which the shareholders have unquestionably supported the results.
Considering the consolidated result of the group as a whole, the benefit rose to 4.2 million. The entity's own funds grew by 2%, to 72.3 million. Savings under the entity's management practically did not change, standing at 1,571, and Revenue remained above 200 million, specifically, at 215.4.
In addition to analyzing the purely business results obtained throughout the year, Miguel Carrero, president of PSN, wanted to highlight in his Report the characteristics “that best represent PSN and its identity of mutual solidarity, having a direct impact on the benefit of the group protected". In this sense, he alluded to Profit Sharing, “an extra value that we grant to our members with Savings and mixed insurance, thus increasing the profitability they receive from their Mutual”. During 2021, this type of product obtained returns of up to 3.75%, unusual percentages at the current moment in interest rates, especially with regard to guaranteed products. These returns made it possible to distribute 7.2 million among mutual members last year, a figure that represents 22% more than the previous year, close to 77 million in the last decade.
Adapting to the crisis and moving towards normality
Another of the great things highlighted by Carrero was the benefits paid to the mutual group, “our maximum commitment to mutual members and the ultimate reason why university professionals look to us as guarantors of their protection and their future”. Over the last financial year, there were 244.8 million euros intended to cover needs and contingencies as sensitive and important as death, disability, sick leave or retirement.
Miguel Carrero directly alluded to the consequences caused by Covid-19: “We faced and still face a critical situation, a time in which it was necessary to adapt to the imposed circumstances that isolated us and brought brutal suffering” across the world stage. In this sense, he recalled that 2020 was a year to make decisions that, although complicated, pursued the purpose of “guaranteeing with the greatest strength the protection of yourself and those you value most. Difficult decisions in many cases, but necessary, directly derived from this crisis or simply accelerated by it and which, consequently, achieved a significant reduction in overhead costs of more than 22%”, he concluded.