VIG premiums revenue in Hungary reaches HUF 63-65 bln
Austriaʼs Vienna Insurance Group (VIG) had annual revenue of HUF 63-65 bln from premiums in Hungary, the management of the groupʼs local businesses told journalists on Friday, but the management did not disclose other figures for last year, according to reports.
VIG, which has almost 7% market share in Hungary and employs 1,200 staff in the country, currently has three units in Hungary: Union, Vienna Life and Erste Insurance. Gábor Lehel, who heads Union, said that VIG would consider acquiring another business in Hungary, for the right price, but it has no firm targets at present, according to MTI.
Lehel said the unitʼs premiums on mandatory vehicle insurance policies as well as the number of its contracts rose last year, raising revenue, according to MTI. Erste Insurance chief Zsolt Raveczky said Erste Bankʼs recent acquisition of the retail and credit card clients of Citibank in Hungary was expected to boost life insurance sales from 2017, MTI reported.
Hungary Gasoline Prices 3% Over Regional Avg
Gov't Wants Sustainable Business Model for Magyar Posta
120,000 Guest Workers Employed in Hungary
Budapest Airport Wins 'Best Airport in Eastern Europe' for 1...
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.
